Stock Traders Purchase Large Volume of Put Options on Evolent Health (NYSE:EVH)

Evolent Health Inc (NYSE:EVH) was the recipient of some unusual options trading activity on Thursday. Stock traders purchased 1,830 put options on the company. This represents an increase of 1,826% compared to the average daily volume of 95 put options.

EVH has been the topic of a number of recent research reports. Piper Jaffray Companies set a $10.00 price target on shares of Evolent Health and gave the company a “buy” rating in a research report on Tuesday. Cantor Fitzgerald set a $16.00 price target on shares of Evolent Health and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Cowen set a $18.00 price target on shares of Evolent Health and gave the company a “buy” rating in a research report on Wednesday, August 7th. ValuEngine raised shares of Evolent Health from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Oppenheimer set a $15.00 price target on shares of Evolent Health and gave the company a “buy” rating in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $20.33.

Shares of NYSE EVH traded up $0.33 during trading on Friday, reaching $7.35. 1,315,265 shares of the stock were exchanged, compared to its average volume of 1,428,965. The business’s 50-day moving average price is $6.94 and its 200 day moving average price is $10.30. Evolent Health has a twelve month low of $5.50 and a twelve month high of $29.05. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $672.76 million, a price-to-earnings ratio of -21.00 and a beta of 1.06.

Evolent Health (NYSE:EVH) last posted its earnings results on Tuesday, August 6th. The technology company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.03. Evolent Health had a negative net margin of 14.67% and a negative return on equity of 6.47%. The business had revenue of $192.00 million for the quarter, compared to analysts’ expectations of $192.51 million. During the same period in the previous year, the company posted ($0.03) earnings per share. The business’s revenue for the quarter was up 33.1% compared to the same quarter last year. As a group, sell-side analysts expect that Evolent Health will post -0.96 earnings per share for the current fiscal year.

In other Evolent Health news, CFO Doug S. Aron purchased 10,550 shares of Evolent Health stock in a transaction on Wednesday, August 14th. The shares were purchased at an average cost of $8.20 per share, with a total value of $86,510.00. Also, Director Kenneth A. Samet purchased 7,200 shares of Evolent Health stock in a transaction on Thursday, August 15th. The shares were acquired at an average cost of $7.04 per share, for a total transaction of $50,688.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 32,750 shares of company stock valued at $242,648. 4.50% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. FDx Advisors Inc. lifted its position in shares of Evolent Health by 21.2% during the second quarter. FDx Advisors Inc. now owns 21,635 shares of the technology company’s stock worth $172,000 after purchasing an additional 3,785 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Evolent Health by 3.1% during the second quarter. Bank of Montreal Can now owns 137,118 shares of the technology company’s stock worth $1,089,000 after purchasing an additional 4,158 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in shares of Evolent Health by 38.4% during the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 15,500 shares of the technology company’s stock worth $123,000 after purchasing an additional 4,300 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Evolent Health by 7.6% during the second quarter. Royal Bank of Canada now owns 65,297 shares of the technology company’s stock worth $519,000 after purchasing an additional 4,590 shares in the last quarter. Finally, Aperio Group LLC acquired a new position in shares of Evolent Health during the second quarter worth $40,000. 94.25% of the stock is currently owned by institutional investors and hedge funds.

About Evolent Health

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, provides health care delivery and payment solutions in the United States. The company operates as a managed services firm that supports health systems and physician organizations in migration toward value-based care and population health management.

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