A large number of institutional investors and hedge funds have recently added to or reduced their stakes in Evolent Health Inc. (NYSE: EVH), a company providing an integrated value-based care platform to the nation’s leading provider organizations. The company debuted on the New York Stock Exchange on 6/5/15, raising $195M, and closed above a $1 billion market cap.
Here is a look at recent institutional investments in Evolent Health:
1. CWM Advisors LLC grew its position in Evolent Health by 75.3% during Q2 2019, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,085 shares of the technology company’s stock after purchasing an additional 8,625 shares during the quarter. CWM Advisors LLC’s holdings in Evolent Health were worth $160,000 at the end of the most recent reporting period.
2. Redmond Asset Management LLC increased its position in Evolent Health by 2.3% during Q1 2019. Redmond Asset Management LLC now owns 70,171 shares of the company’s stock valued at $883,000 after purchasing an additional 1,592 shares during the period.
3. Legal & General Group Plc raised its position in shares of Evolent Health by 7.1% during the Q4 2018. Legal & General Group Plc now owns 27,695 shares of the technology company’s stock worth $553,000 after purchasing an additional 1,838 shares during the last quarter.
4. White Pine Investment CO grew its stake in Evolent Health by 2.9% during the Q1 2019. White Pine Investment CO now owns 162,300 shares of the technology company’s stock valued at $2,042,000 after acquiring an additional 4,625 shares in the last quarter.
5. US Bancorp DE grew its stake in Evolent Health by 15.9% during Q1 2019. US Bancorp DE now owns 48,758 shares of the technology company’s stock valued at $613,000 after acquiring an additional 6,687 shares in the last quarter.
6. Gabelli & Company Investment Advisers purchased a new stake in Evolent Health during Q1 2019 valued at about $141,000.
To date, 97.99% of Evolent Health’s stock is owned by institutional investors and hedge funds. Evolent Health’s stock is currently down by 64% year to date (YTD).
Evolent Health’s Quarterly Earnings Report
Evolent Health released its second quarterly earnings data on Tuesday, August 6th. The company reported:
– total revenue of $192.0 million and $144.3 million for the three months ended June 30, 2019 and 2018, respectively, an increase of 33.0%
– Services revenue of $149.5 million and $125.2 million for the three months ended June 30, 2019 and 2018, respectively, before intersegment eliminations of $3.1 million and $3.6 million, respectively
– True Health premiums revenue of $45.8 million and $22.9 million for the three months ended June 30, 2019and 2018, respectively, before intersegment eliminations of $0.3 million and $0.2 million, respectively
– Cost of revenue of $108.4 million and $69.0 million for the three months ended June 30, 2019 and 2018, respectively, an increase of 57.1%
– Claims expenses of $36.1 million and $18.4 million for the three months ended June 30, 2019 and 2018, respectively, an increase of 95.8%
– Selling, general and administrative expenses of $66.9 million and $57.4 million for the three months ended June 30, 2019 and 2018, respectively, an increase of 16.6%
– Net income (loss) attributable to Evolent Health, Inc. of $(31.6) million and $(9.9) million for the three months ended June 30, 2019 and 2018, respectively
– Earnings (loss) available to common shareholders, basic and diluted, of $(31.6) million and $(9.9) million for the three months ended June 30, 2019 and 2018, respectively
– Earnings (loss) available to common shareholders, per basic and diluted share, of $(0.38) and $(0.13) for the three months ended June 30, 2019 and 2018, respectively.
