Privia Health Group, Inc. $PRVA Position Lessened by Cinctive Capital Management LP

Cinctive Capital Management LP lowered its stake in shares of Privia Health Group, Inc. (NASDAQ:PRVA) by 92.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,614 shares of the company’s stock after selling 315,357 shares during the quarter. Cinctive Capital Management LP’s holdings in Privia Health Group were worth $638,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PRVA. Canada Pension Plan Investment Board lifted its stake in Privia Health Group by 48.0% in the second quarter. Canada Pension Plan Investment Board now owns 3,700 shares of the company’s stock valued at $85,000 after buying an additional 1,200 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Privia Health Group during the second quarter worth about $113,000. Covestor Ltd increased its holdings in shares of Privia Health Group by 39.8% in the 3rd quarter. Covestor Ltd now owns 5,824 shares of the company’s stock worth $145,000 after acquiring an additional 1,657 shares during the period. Acadian Asset Management LLC bought a new stake in Privia Health Group in the 1st quarter valued at about $154,000. Finally, CWM LLC lifted its position in Privia Health Group by 94.2% in the 3rd quarter. CWM LLC now owns 6,634 shares of the company’s stock valued at $165,000 after purchasing an additional 3,218 shares during the last quarter. 94.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PRVA has been the subject of several recent analyst reports. Truist Financial upped their target price on shares of Privia Health Group from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Canaccord Genuity Group lifted their price target on Privia Health Group from $34.00 to $35.00 and gave the company a “buy” rating in a report on Friday, February 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Privia Health Group in a research report on Monday, December 29th. Citigroup decreased their price objective on Privia Health Group from $34.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Finally, Jefferies Financial Group restated a “buy” rating and issued a $32.00 target price on shares of Privia Health Group in a research report on Thursday, February 26th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

Insiders Place Their Bets

In other news, CFO David Mountcastle sold 6,565 shares of Privia Health Group stock in a transaction on Friday, March 13th. The stock was sold at an average price of $21.52, for a total transaction of $141,278.80. Following the transaction, the chief financial officer directly owned 226,804 shares in the company, valued at approximately $4,880,822.08. This trade represents a 2.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Parth Mehrotra sold 27,229 shares of the business’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $21.52, for a total value of $585,968.08. Following the completion of the sale, the chief executive officer directly owned 581,952 shares in the company, valued at $12,523,607.04. This represents a 4.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 209,291 shares of company stock worth $4,793,168 over the last ninety days. Company insiders own 10.70% of the company’s stock.

Privia Health Group Trading Up 1.3%

PRVA stock opened at $21.96 on Tuesday. The firm’s 50-day moving average is $22.85 and its two-hundred day moving average is $23.62. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 129.18, a price-to-earnings-growth ratio of 1.37 and a beta of 0.82. Privia Health Group, Inc. has a 52 week low of $18.77 and a 52 week high of $26.51.

Privia Health Group (NASDAQ:PRVA) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.21. Privia Health Group had a net margin of 1.08% and a return on equity of 3.06%. The business had revenue of $541.17 million during the quarter, compared to analysts’ expectations of $516.61 million. During the same period last year, the firm posted $0.21 earnings per share. The business’s revenue was up 17.4% on a year-over-year basis. On average, equities research analysts predict that Privia Health Group, Inc. will post 0.14 earnings per share for the current year.

Privia Health Group Company Profile

Privia Health Group (NASDAQ: PRVA) is a physician enablement company that partners with independent physicians, medical groups and health systems to transform the delivery of patient care. Through a clinically integrated network and a proprietary technology platform, the company supports providers in managing population health, delivering coordinated care and optimizing financial performance under both fee-for-service and value-based reimbursement models.

Founded in 2016 and headquartered in McLean, Virginia, Privia Health has rapidly expanded its footprint to serve multiple metropolitan markets across the United States.