Short Interest in Privia Health Group, Inc. (NASDAQ:PRVA) Grows By 19.8%

Privia Health Group, Inc. (NASDAQ:PRVA) was the recipient of a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 6,950,000 shares, an increase of 19.8% from the May 31st total of 5,800,000 shares. Currently, 6.6% of the shares of the stock are short sold. Based on an average daily volume of 917,800 shares, the days-to-cover ratio is currently 7.6 days.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PRVA shares. Stifel Nicolaus lowered their price objective on Privia Health Group from $28.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Barclays reduced their target price on Privia Health Group from $22.00 to $19.00 and set an “equal weight” rating on the stock in a report on Monday, May 20th. Truist Financial reduced their target price on Privia Health Group from $28.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Canaccord Genuity Group reduced their target price on Privia Health Group from $37.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Finally, Robert W. Baird initiated coverage on Privia Health Group in a report on Thursday, May 30th. They issued an “outperform” rating and a $23.00 target price on the stock. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.92.

Insider Buying and Selling

In other Privia Health Group news, CEO Parth Mehrotra sold 12,219 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $18.42, for a total transaction of $225,073.98. Following the completion of the transaction, the chief executive officer now owns 261,640 shares of the company’s stock, valued at $4,819,408.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Parth Mehrotra sold 12,219 shares of Privia Health Group stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $18.42, for a total value of $225,073.98. Following the completion of the sale, the chief executive officer now owns 261,640 shares of the company’s stock, valued at $4,819,408.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Thomas Bartrum sold 2,252 shares of Privia Health Group stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $18.42, for a total value of $41,481.84. Following the completion of the sale, the executive vice president now directly owns 103,862 shares of the company’s stock, valued at approximately $1,913,138.04. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 293,235 shares of company stock valued at $4,745,481 and sold 45,457 shares valued at $827,810. 14.20% of the stock is currently owned by insiders.

Institutional Trading of Privia Health Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. grew its holdings in shares of Privia Health Group by 33.6% during the third quarter. Envestnet Asset Management Inc. now owns 455,626 shares of the company’s stock valued at $10,479,000 after purchasing an additional 114,568 shares during the last quarter. Northern Trust Corp grew its holdings in Privia Health Group by 28.7% in the 3rd quarter. Northern Trust Corp now owns 1,344,327 shares of the company’s stock worth $30,920,000 after buying an additional 299,395 shares in the last quarter. Gotham Asset Management LLC grew its holdings in Privia Health Group by 97.9% in the 3rd quarter. Gotham Asset Management LLC now owns 59,557 shares of the company’s stock worth $1,370,000 after buying an additional 29,465 shares in the last quarter. Glenmede Trust Co. NA grew its holdings in Privia Health Group by 0.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 107,711 shares of the company’s stock worth $2,477,000 after buying an additional 976 shares in the last quarter. Finally, Advantage Alpha Capital Partners LP grew its holdings in Privia Health Group by 7.6% in the 3rd quarter. Advantage Alpha Capital Partners LP now owns 154,217 shares of the company’s stock worth $3,547,000 after buying an additional 10,828 shares in the last quarter. 94.48% of the stock is owned by institutional investors.

Privia Health Group Stock Performance

Shares of NASDAQ:PRVA traded up $0.02 during trading on Tuesday, hitting $17.12. The company’s stock had a trading volume of 136,183 shares, compared to its average volume of 951,641. Privia Health Group has a fifty-two week low of $15.92 and a fifty-two week high of $28.23. The stock’s 50-day moving average price is $17.48 and its two-hundred day moving average price is $19.71. The company has a market capitalization of $2.04 billion, a PE ratio of 114.00, a PEG ratio of 2.72 and a beta of 0.78.

Privia Health Group (NASDAQ:PRVA) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.03). The business had revenue of $415.24 million during the quarter, compared to analyst estimates of $435.07 million. Privia Health Group had a return on equity of 3.13% and a net margin of 1.11%. On average, equities analysts predict that Privia Health Group will post 0.2 earnings per share for the current fiscal year.

Privia Health Group Company Profile

Privia Health Group, Inc operates as a national physician-enablement company in the United States. The company collaborates with medical groups, health plans, and health systems to optimize physician practices, enhance patient experiences, and reward doctors for delivering care in-person and virtual settings.