Privia Health Group (NASDAQ:PRVA) Hits New 12-Month Low – Here’s Why

Privia Health Group, Inc. (NASDAQ:PRVA) hit a new 52-week low during trading 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 recent analyst reports. Barclays lowered their target price on shares of Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 26th. Citigroup reissued a “buy” rating on shares of Privia Health Group in a research note on Thursday, July 23rd. Canaccord Genuity Group set a $32.00 price target on shares of Privia Health Group in a report on Friday, August 7th. Zacks Research upgraded shares of Privia Health Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings raised shares of Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 2nd. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.00.

Privia Health Group Stock Performance

The company has a market cap of $2.49 billion, a P/E ratio of 92.77 and a beta of 0.87. The stock has a 50-day moving average of $22.65 and a two-hundred day moving average of $22.99.

Privia Health Group (NASDAQ:PRVA) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.19 EPS 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 analysts’ expectations of $597.33 million. Privia Health Group had a net margin of 1.19% and a return on equity of 3.52%. The business’s quarterly revenue was up 21.4% on a year-over-year basis. During the same period last year, the business earned $0.24 earnings per share. As a group, sell-side analysts forecast that Privia Health Group, Inc. will post 0.27 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO David Mountcastle sold 21,275 shares of the stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $27.67, for a total transaction of $588,679.25. Following the transaction, the chief financial officer owned 164,853 shares of the company’s stock, valued at approximately $4,561,482.51. This trade represents a 11.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Morris sold 53,722 shares of Privia Health Group stock in a transaction on Monday, July 6th. The stock was sold at an average price of $27.24, for a total transaction of $1,463,387.28. Following the completion of the transaction, the director owned 68,188 shares in the company, valued at approximately $1,857,441.12. The trade was a 44.07% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 327,886 shares of company stock valued at $8,628,256 in the last ninety days. 5.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Privia Health Group

Several institutional investors have recently bought and sold shares of PRVA. Integrated Wealth Concepts LLC purchased a new position in Privia Health Group in the 2nd quarter worth approximately $74,000. Squarepoint Ops LLC boosted its stake in shares of Privia Health Group by 313.2% during the second quarter. Squarepoint Ops LLC now owns 198,763 shares of the company’s stock valued at $5,114,000 after purchasing an additional 150,655 shares during the period. Nykredit A S bought a new position in shares of Privia Health Group in the second quarter worth approximately $50,000. Amundi grew its holdings in shares of Privia Health Group by 55.5% in the second quarter. Amundi now owns 39,573 shares of the company’s stock worth $1,018,000 after purchasing an additional 14,119 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Privia Health Group in the second quarter worth $767,000. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Privia Health Group Company Profile

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.