Institutional investors are actively repositioning their stakes in Privia Health Group, Inc. (NASDAQ: PRVA), signaling notable shifts within the healthcare stock market. These strategic adjustments by major firms underscore the dynamic nature of equity investments and the ongoing evaluation of company valuations in a fluctuating economic landscape.
A significant move came from GSA Capital Partners LLP, which reportedly reduced its position in Privia Health Group by 15.1% during the first quarter. This reduction involved the sale of 9,048 shares, leaving the firm with 51,026 shares valued at approximately $1.15 million, as detailed in its most recent SEC filing.
Conversely, several other institutional players opted to increase their holdings in PRVA. CWM LLC notably lifted its stake by 50.3%, acquiring an additional 604 shares to reach a total of 1,804 shares valued at $40,000. Bessemer Group Inc. showed even more aggressive accumulation, boosting its position by a staggering 2,393.4%, adding 2,178 shares to own 2,269 shares worth $51,000.
Further reinforcing this trend of increased investment, GAMMA Investing LLC enhanced its stake by 113.1%, purchasing an additional 1,521 shares to bring their total to 2,866 shares, valued at $64,000. Financial Management Professionals Inc. also grew its holdings by 28.7%, acquiring 754 additional shares, resulting in a total of 3,383 shares worth $76,000.
These movements are set against a backdrop of varied analyst sentiments and price targets for Privia Health Group. Firms like JPMorgan Chase & Co. and Robert W. Baird have recently raised their price targets and maintained “overweight” or “outperform” ratings, reflecting positive long-term outlooks. Barclays and Truist Financial have also adjusted targets upwards, with an overall market consensus indicating a “Buy” rating and an average target price around $28.38.
Adding another layer to the company’s financial narrative are recent insider stock sales. The CEO, Parth Mehrotra, sold 13,773 shares for a total of $344,187.27, reducing his holdings by 3.15%. Similarly, the CFO sold 3,322 shares totaling $83,016.78, representing a 1.89% decrease in their position, as disclosed in SEC filings. Despite these sales, insiders collectively retain a significant 10.70% ownership of the company’s stock.
Privia Health Group shares opened at $19.59, with the company commanding a market capitalization of $2.39 billion. Key financial metrics include a P/E ratio of 163.26, a price-to-earnings-growth ratio of 3.12, and a beta of 0.82. The stock has experienced fluctuations, with a 50-day moving average of $21.77 and a 200-day moving average of $22.92, trading within a 1-year range of $16.47 to $26.09.
Privia Health Group operates as a national physician-enablement company, collaborating with medical groups, health plans, and health systems across the United States. Its core mission involves optimizing physician practices, enhancing patient experiences, and incentivizing doctors for delivering high-quality care in both in-person and virtual settings, underscoring its pivotal role in the evolving healthcare landscape.
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