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

Privia Health Group, Inc. (NASDAQ:PRVA - Get Free Report) was the target of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 3,480,000 shares, a decrease of 16.5% from the March 31st total of 4,170,000 shares. Based on an average daily trading volume, of 815,000 shares, the short-interest ratio is presently 4.3 days. Approximately 3.2% of the company's shares are sold short.

Insider Activity at Privia Health Group

In other news, CFO David Mountcastle sold 3,445 shares of Privia Health Group stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $23.33, for a total value of $80,371.85. Following the completion of the sale, the chief financial officer now owns 176,231 shares of the company's stock, valued at $4,111,469.23. The trade was a 1.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Parth Mehrotra sold 15,100 shares of the stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $23.33, for a total value of $352,283.00. Following the transaction, the chief executive officer now owns 454,281 shares in the company, valued at $10,598,375.73. This trade represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,484 shares of company stock valued at $799,163. Company insiders own 10.70% of the company's stock.

Institutional Trading of Privia Health Group

Large investors have recently bought and sold shares of the company. Riverbridge Partners LLC increased its position in shares of Privia Health Group by 19.7% during the fourth quarter. Riverbridge Partners LLC now owns 5,824,458 shares of the company's stock worth $113,868,000 after acquiring an additional 958,418 shares during the last quarter. Loomis Sayles & Co. L P grew its stake in Privia Health Group by 55.0% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,418,234 shares of the company's stock valued at $27,727,000 after purchasing an additional 503,002 shares in the last quarter. Durable Capital Partners LP grew its stake 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 in the last quarter. Royce & Associates LP purchased a new stake in Privia Health Group during the 1st quarter worth approximately $6,818,000. Finally, BlackBarn Capital Partners LP raised its position in shares of Privia Health Group by 65.8% in the 4th quarter. BlackBarn Capital Partners LP now owns 663,397 shares of the company's stock valued at $12,969,000 after purchasing an additional 263,397 shares in the last quarter. Institutional investors and hedge funds own 94.48% of the company's stock.

Privia Health Group Stock Performance

Shares of NASDAQ:PRVA traded down $0.26 during mid-day trading on Tuesday, hitting $22.72. 427,909 shares of the company traded hands, compared to its average volume of 768,175. The firm's 50 day simple moving average is $23.47 and its 200 day simple moving average is $22.16. The firm has a market cap of $2.76 billion, a P/E ratio of 227.22, a PEG ratio of 3.47 and a beta of 0.87. Privia Health Group has a 52-week low of $15.92 and a 52-week high of $26.04.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PRVA shares. Needham & Company LLC reiterated a "buy" rating and set a $30.00 price objective on shares of Privia Health Group in a report on Thursday, April 10th. Barclays increased their price target on shares of Privia Health Group from $21.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 10th. Truist Financial boosted their price objective on shares of Privia Health Group from $27.00 to $28.00 and gave the company a "buy" rating in a research note on Thursday, April 10th. Canaccord Genuity Group lifted their target price on Privia Health Group from $29.00 to $30.00 and gave the company a "buy" rating in a report on Friday, February 28th. Finally, JMP Securities reissued a "market outperform" rating and set a $29.00 price target on shares of Privia Health Group in a research report on Monday, April 28th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $27.38.

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.