Privia Health Group (NASDAQ:PRVA) Sets New 52-Week Low - Time to Sell?

Key Points

• Privia Health shares hit a new 52-week low of $19.46, well below their 50-day and 200-day moving averages of $22.65 and $22.99, respectively.
• Despite the decline, analysts maintain a consensus “Moderate Buy” rating with an average price target of $31, implying substantial upside from the reported trading level.
• The company exceeded quarterly expectations, reporting $0.19 in adjusted EPS versus a $0.07 estimate and $632.63 million in revenue, up 21.4% year over year; however, insiders sold 327,886 shares worth $8.6 million during the quarter.

Privia Health Group, Inc. (NASDAQ:PRVA - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $19.46 and last traded at $19.5630, with a volume of 116033 shares trading hands. The stock had previously closed at $19.85.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PRVA shares. Citigroup reissued a "buy" rating on shares of Privia Health Group in a report on Thursday, July 23rd. Zacks Research upgraded shares of Privia Health Group from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 5th. Weiss Ratings raised shares of Privia Health Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, July 2nd. Barclays dropped their target price on shares of Privia Health Group from $25.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 26th. Finally, Canaccord Genuity Group set a $32.00 target price on shares of Privia Health Group in a research report on Friday, August 7th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Privia Health Group currently has a consensus rating of "Moderate Buy" and an average target price of $31.00.

Privia Health Group Price Performance

The stock has a market cap of $2.49 billion, a PE ratio of 92.77 and a beta of 0.87. The firm's 50 day moving average price is $22.65 and its two-hundred day moving average price is $22.99.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.07 by $0.12. Privia Health Group had a net margin of 1.19% and a return on equity of 3.52%. The company had revenue of $632.63 million during the quarter, compared to the consensus estimate of $597.33 million. During the same period last year, the firm earned $0.24 EPS. Privia Health Group's revenue for the quarter was up 21.4% on a year-over-year basis. Analysts anticipate that Privia Health Group, Inc. will post 0.27 earnings per share for the current year.

Insider Buying and Selling at Privia Health Group

In other Privia Health Group news, CFO David Mountcastle sold 24,734 shares of the firm's stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $27.50, for a total value of $680,185.00. Following the completion of the transaction, the chief financial officer owned 186,728 shares in the company, valued at $5,135,020. This trade represents a 11.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Morris sold 88,110 shares of Privia Health Group stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $25.33, for a total value of $2,231,826.30. Following the transaction, the director directly owned 76,651 shares of the company's stock, valued at $1,941,569.83. The trade was a 53.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 327,886 shares of company stock valued at $8,628,256. 5.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Privia Health Group

Hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio purchased a new position in shares of Privia Health Group during the 2nd quarter valued at $26,000. Bayban bought a new stake in Privia Health Group during the fourth quarter valued at $26,000. Hantz Financial Services Inc. boosted its stake in Privia Health Group by 456.2% during the fourth quarter. Hantz Financial Services Inc. now owns 1,129 shares of the company's stock valued at $27,000 after buying an additional 926 shares during the period. Allworth Financial LP purchased a new position in Privia Health Group during the second quarter worth about $48,000. Finally, Nykredit A S purchased a new position in Privia Health Group during the second quarter worth about $50,000. Hedge funds and other institutional investors own 94.48% of the company's stock.

Privia Health Group Company Profile

Privia Health Group, Inc is a national physician enablement company that supports independent medical groups in delivering value-based care. Through its technology-enabled platform, the company provides administrative, clinical, and operational services designed to help physicians manage patient populations, improve care coordination, and participate in contracts with health plans and employers.

Privia's services include practice management, electronic health record and data analytics tools, revenue-cycle support, marketing, recruiting, and other nonclinical business functions.

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