Privia Health Group, Inc. $PRVA Shares Sold by Cinctive Capital Management LP

Cinctive Capital Management LP decreased its holdings in shares of Privia Health Group, Inc. (NASDAQ:PRVA) by 92.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 25,614 shares of the company’s stock after selling 315,357 shares during the period. Cinctive Capital Management LP’s holdings in Privia Health Group were worth $638,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Canada Pension Plan Investment Board lifted its stake in Privia Health Group by 48.0% during the second quarter. Canada Pension Plan Investment Board now owns 3,700 shares of the company’s stock valued at $85,000 after purchasing an additional 1,200 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Privia Health Group in the second quarter worth approximately $113,000. Covestor Ltd grew its position in Privia Health Group by 39.8% in the third quarter. Covestor Ltd now owns 5,824 shares of the company’s stock worth $145,000 after buying an additional 1,657 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Privia Health Group in the first quarter valued at $154,000. Finally, CWM LLC increased its holdings in shares of Privia Health Group by 94.2% in the third quarter. CWM LLC now owns 6,634 shares of the company’s stock valued at $165,000 after buying an additional 3,218 shares in the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PRVA. Royal Bank Of Canada began coverage on Privia Health Group in a research note on Friday, January 9th. They set an “outperform” rating and a $31.00 price objective for the company. Citigroup cut their target price on Privia Health Group from $34.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $36.00 target price on shares of Privia Health Group in a report on Thursday, February 26th. Truist Financial increased their price target on Privia Health Group from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Finally, Canaccord Genuity Group lifted their price target on Privia Health Group from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

Privia Health Group Stock Up 1.3%

Shares of NASDAQ:PRVA opened at $21.96 on Tuesday. The company’s fifty day moving average is $22.85 and its two-hundred day moving average is $23.62. Privia Health Group, Inc. has a 12-month low of $18.77 and a 12-month high of $26.51. The company has a market cap of $2.72 billion, a P/E ratio of 129.18, a price-to-earnings-growth ratio of 1.37 and a beta of 0.82.

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

Insider Buying and Selling

In other news, CEO Parth Mehrotra sold 27,229 shares of the company’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $21.52, for a total value of $585,968.08. Following the transaction, the chief executive officer owned 581,952 shares in the company, valued at $12,523,607.04. This represents a 4.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Edward C. Fargis sold 4,949 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $22.84, for a total transaction of $113,035.16. Following the completion of the sale, the executive vice president directly owned 83,711 shares of the company’s stock, valued at $1,911,959.24. This trade represents a 5.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 209,291 shares of company stock valued at $4,793,168. Corporate insiders own 10.70% of the company’s stock.

Privia Health Group 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.