Cinctive Capital Management LP Purchases 114,478 Shares of Privia Health Group, Inc. $PRVA

Key Points

• Cinctive Capital Management LP increased its holdings in Privia Health Group by 82.2%, acquiring an additional 114,478 shares, bringing its total ownership to approximately 253,783 shares valued at $5.7 million.
• Several institutional investors, including Van Berkom & Associates and Nuveen LLC, have also made significant investments in Privia, with 94.48% of the stock owned by institutional investors.
• Research analysts have mixed opinions on Privia Health Group, with price targets ranging from $28.00 to $36.00; currently, the stock holds a "Moderate Buy" average rating with a price of around $23.17.

Cinctive Capital Management LP boosted its stake in shares of Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 82.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 253,783 shares of the company's stock after purchasing an additional 114,478 shares during the period. Cinctive Capital Management LP owned 0.21% of Privia Health Group worth $5,697,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. raised its position in Privia Health Group by 2,393.4% during the first quarter. Bessemer Group Inc. now owns 2,269 shares of the company's stock worth $51,000 after acquiring an additional 2,178 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Privia Health Group by 4.6% during the first quarter. Janney Montgomery Scott LLC now owns 55,371 shares of the company's stock worth $1,243,000 after purchasing an additional 2,413 shares during the period. GAMMA Investing LLC increased its position in Privia Health Group by 113.1% during the first quarter. GAMMA Investing LLC now owns 2,866 shares of the company's stock worth $64,000 after buying an additional 1,521 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Privia Health Group during the 1st quarter worth approximately $387,000. Finally, Durable Capital Partners LP lifted its holdings in Privia Health Group by 3.4% during the 4th quarter. Durable Capital Partners LP now owns 11,487,843 shares of the company's stock valued at $224,587,000 after purchasing an additional 378,255 shares during the last quarter. 94.48% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Piper Sandler dropped their price objective on shares of Privia Health Group from $36.00 to $35.00 and set an "overweight" rating on the stock in a research report on Monday, August 11th. Zacks Research raised shares of Privia Health Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 19th. Evercore ISI cut their price objective on shares of Privia Health Group from $30.00 to $28.00 and set an "outperform" rating for the company in a research report on Wednesday, July 9th. Barclays boosted their price objective on Privia Health Group from $23.00 to $24.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 27th. Finally, JMP Securities increased their target price on Privia Health Group from $29.00 to $30.00 and gave the stock a "market outperform" rating in a research note on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $28.58.

Privia Health Group Stock Performance

Shares of NASDAQ PRVA traded down $0.08 during midday trading on Tuesday, reaching $23.51. The company's stock had a trading volume of 199,774 shares, compared to its average volume of 837,750. The company has a market cap of $2.89 billion, a P/E ratio of 213.56, a P/E/G ratio of 3.37 and a beta of 0.82. The business's 50 day moving average price is $21.05 and its two-hundred day moving average price is $22.56. Privia Health Group, Inc. has a fifty-two week low of $16.47 and a fifty-two week high of $26.09.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.03). Privia Health Group had a return on equity of 2.13% and a net margin of 0.78%.The company had revenue of $521.15 million for the quarter, compared to the consensus estimate of $466.97 million. During the same quarter last year, the business earned $0.19 EPS. Privia Health Group's revenue was up 23.4% on a year-over-year basis. Privia Health Group has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Privia Health Group, Inc. will post 0.14 earnings per share for the current fiscal year.

About Privia Health Group

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.