Privia Health Group (NASDAQ:PRVA) Sets New 1-Year Low – Should You Sell?

Privia Health Group, Inc. (NASDAQ:PRVA) shares reached a new 52-week low on Monday . The stock traded as low as $19.46 and last traded at $19.5630, with a volume of 116033 shares traded. The stock had previously closed at $19.85.

Analyst Upgrades and Downgrades

PRVA has been the topic of a number of analyst reports. Canaccord Genuity Group set a $32.00 target price on shares of Privia Health Group in a report on Friday, August 7th. Zacks Research raised shares of Privia Health Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 5th. Weiss Ratings upgraded shares of Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 2nd. Citigroup restated a “buy” rating on shares of Privia Health Group in a research report on Thursday, July 23rd. Finally, Barclays lowered their price objective on Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 26th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $31.00.

Privia Health Group Stock Performance

The stock has a market cap of $2.49 billion, a PE ratio of 92.67 and a beta of 0.87. The company’s 50-day moving average price is $22.31 and its two-hundred day moving average price is $22.93.

Privia Health Group (NASDAQ:PRVA) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.12. The business had revenue of $632.63 million for the quarter, compared to the consensus estimate of $597.33 million. Privia Health Group had a return on equity of 3.52% and a net margin of 1.19%.The company’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter last year, the business posted $0.24 earnings per share. Equities research analysts forecast that Privia Health Group, Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Activity at Privia Health Group

In related news, CFO David Mountcastle sold 24,734 shares of Privia Health Group stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $27.50, for a total value of $680,185.00. Following the transaction, the chief financial officer owned 186,728 shares in the company, valued at $5,135,020. This trade represents a 11.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Morris sold 88,110 shares of the company’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $25.33, for a total transaction of $2,231,826.30. Following the sale, the director owned 76,651 shares of the company’s stock, valued at approximately $1,941,569.83. The trade was a 53.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 327,886 shares of company stock worth $8,628,256 over the last three months. Insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Privia Health Group

A number of large investors have recently bought and sold shares of the stock. Renaissance Group LLC bought a new position in shares of Privia Health Group in the fourth quarter worth approximately $7,776,000. Rubicon Founders LLC purchased a new stake in shares of Privia Health Group during the second quarter worth about $153,635,863. Oppenheimer Asset Management Inc. purchased a new position in Privia Health Group during the 2nd quarter valued at about $5,841,000. Van Berkom & Associates Inc. raised its position in Privia Health Group by 5.4% during the 1st quarter. Van Berkom & Associates Inc. now owns 4,053,043 shares of the company’s stock valued at $83,371,000 after purchasing an additional 208,787 shares during the last quarter. Finally, OneDigital Investment Advisors LLC purchased a new stake in Privia Health Group in the 2nd quarter worth approximately $6,653,000. 94.48% of the stock is owned by hedge funds and other institutional investors.

About Privia Health Group

Privia Health Group, Inc is a national physician enablement company that supports independent medical groups in delivering value-based care. Through its technology-enabled platform, the company provides administrative, clinical, and operational services designed to help physicians manage patient populations, improve care coordination, and participate in contracts with health plans and employers.

Privia’s services include practice management, electronic health record and data analytics tools, revenue-cycle support, marketing, recruiting, and other nonclinical business functions.