Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Evolent Health Inc. shares valued at $113,956 were sold by Scott Cheryl on Aug 31. At $36.76 per share, Scott Cheryl sold 3,100 shares. The insider’s holdings dropped to 51,104 shares worth approximately $1.83 million following the completion of this transaction.
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Also, WILLIAMS FRANK J sold 50,000 shares, netting a total of over 1,860,500 in proceeds. Following the sale of shares at $37.21 each, the insider now holds 752,434 shares.
Before that, WILLIAMS FRANK J had sold 150,000 shares from its account. In a trade valued at $5,362,500, the Director traded Evolent Health Inc. shares for $35.75 each. Upon closing the transaction, the insider’s holdings decreased to 150,000 shares, worth approximately $26.97 million.
As published in their initiating research note from RBC Capital Mkts on July 29, 2022, Evolent Health Inc. [EVH] has been an Outperform and the price target has been revised to $40. This represents a 10.37% premium over Thursday’s closing price. Analysts at Guggenheim started covering the stock with ‘”a Buy”‘ outlook in a report released in late March. As of November 18, 2021, JP Morgan has increased its “Neutral” rating to a “an Overweight” for EVH.
Analyzing EVH’s Price Performance
On Thursday, Evolent Health Inc. [NYSE: EVH] plunged -4.48% to $35.85. The stock’s lowest price that day was $35.02, but it reached a high of $37.47 in the same session. During the last five days, there has been a drop of approximately -7.89%. Over the course of the year, Evolent Health Inc. shares have jumped approximately 29.56%. Shares of the company reached a 52-week high of $39.78 on 09/15/22 and a 52-week low of $21.36 on 01/24/22. A 50-day SMA is recorded $35.71, while a 200-day SMA reached $29.79. Nevertheless, trading volume fell to 1.22 million shares from 0.51 million shares the previous day.
Support And Resistance Levels for Evolent Health Inc. (EVH)
According to the 24-hour chart, there is a support level at 34.76, which, if violated, would cause prices to drop to 33.66. In the upper region, resistance lies at 37.21. The next price resistance is at 38.56. RSI (Relative Strength Index) is 43.00 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.09, which suggests the price will decrease in the coming days. Percent R is at 82.56%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Evolent Health Inc. subject to short interest?
Stocks of Evolent Health Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.3 million shares to 8.42 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 8.12 million shares. A jump of 3.56% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 7.79 of the overall float, the days-to-cover ratio (short ratio) jumped to 7.79.
Which companies own the most shares of Evolent Health Inc. (EVH)?
According to The Vanguard Group, Inc. filings, the company currently owns 7,650,868 shares, which is about 8.35% of the total EVH shares outstanding. The investor’s shares have appreciated by 142,695 from its previous 13-F filing of 7508173.0 shares. BlackRock Fund Advisors reduced a -0.80% interest valued at $186.26 million while Fidelity Management & Research Co purchased a 499,219 stake. A total of -20,458 shares of Evolent Health Inc. were bought by JPMorgan Investment Management, I during the quarter, and -1,345,228 were sold by Granahan Investment Management, L. In its current portfolio, Engaged Capital LLC holds 2,810,978 shares valued at $103.3 million.