Privia Health Group, Inc. (NASDAQ:PRVA) Sees Significant Increase in Short Interest

Privia Health Group, Inc. (NASDAQ:PRVA – Get Rating) saw a large growth in short interest in May. As of May 15th, there was short interest totalling 5,740,000 shares, a growth of 189.9% from the April 30th total of 1,980,000 shares. Based on an average daily volume of 1,180,000 shares, the short-interest ratio is currently 4.9 days. Currently, 5.4% of the shares of the company are sold short.

Analyst Ratings Changes

PRVA has been the topic of a number of recent analyst reports. SVB Securities upped their target price on shares of Privia Health Group from $39.00 to $40.00 in a research report on Friday, May 5th. Stephens began coverage on shares of Privia Health Group in a research note on Tuesday, April 11th. They set an “overweight” rating and a $33.00 target price on the stock. The Goldman Sachs Group began coverage on shares of Privia Health Group in a research note on Friday, February 3rd. They issued a “buy” rating and a $32.00 price target on the stock. Credit Suisse Group reiterated an “outperform” rating and issued a $41.00 price target on shares of Privia Health Group in a research note on Tuesday, March 7th. Finally, Royal Bank of Canada started coverage on shares of Privia Health Group in a research note on Thursday, March 9th. They issued an “outperform” rating and a $36.00 price target on the stock. Thirteen analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Privia Health Group currently has an average rating of “Buy” and a consensus price target of $39.19.

Insider Buying and Selling

In related news, Director William M. Sullivan sold 18,153 shares of Privia Health Group stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $26.54, for a total value of $481,780.62. Following the completion of the sale, the director now directly owns 5,673,861 shares in the company, valued at approximately $150,584,270.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director William M. Sullivan sold 6,545 shares of the company’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $30.01, for a total transaction of $196,415.45. Following the completion of the sale, the director now owns 5,693,314 shares of the company’s stock, valued at $170,856,353.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director William M. Sullivan sold 18,153 shares of the business’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $26.54, for a total transaction of $481,780.62. Following the transaction, the director now directly owns 5,673,861 shares in the company, valued at approximately $150,584,270.94. The disclosure for this sale can be found here. Insiders sold 25,371,773 shares of company stock worth $551,840,171 in the last three months. Corporate insiders own 57.60% of the company’s stock.

Institutional Trading of Privia Health Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC acquired a new position in shares of Privia Health Group in the 3rd quarter valued at about $32,000. HighMark Wealth Management LLC lifted its position in Privia Health Group by 46.1% during the 1st quarter. HighMark Wealth Management LLC now owns 1,315 shares of the company’s stock worth $36,000 after acquiring an additional 415 shares in the last quarter. Focused Wealth Management Inc acquired a new position in shares of Privia Health Group in the 4th quarter valued at approximately $41,000. James Investment Research Inc. acquired a new position in shares of Privia Health Group in the 1st quarter valued at approximately $44,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Privia Health Group by 171.1% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,578 shares of the company’s stock valued at $44,000 after purchasing an additional 996 shares in the last quarter. Hedge funds and other institutional investors own 66.83% of the company’s stock.

Privia Health Group Stock Up 0.2 %

Shares of NASDAQ PRVA traded up $0.04 during mid-day trading on Friday, hitting $24.48. 502,926 shares of the company were exchanged, compared to its average volume of 1,014,512. The stock has a 50 day simple moving average of $26.88 and a 200-day simple moving average of $25.85. Privia Health Group has a 1-year low of $20.64 and a 1-year high of $44.64. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 222.36, a price-to-earnings-growth ratio of 3.14 and a beta of 0.77.

Privia Health Group (NASDAQ:PRVA – Get Rating) last released its earnings results on Tuesday, February 28th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.17. Privia Health Group had a return on equity of 3.20% and a net margin of 1.14%. The company had revenue of $364.42 million during the quarter, compared to the consensus estimate of $337.16 million. Analysts anticipate that Privia Health Group will post 0.23 earnings per share for the current fiscal year.

About Privia Health Group

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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.