A significant driver of top-line growth: Privia Health Group Inc. (PRVA)

Privia Health Group Inc. (NASDAQ: PRVA) stock fell -2.82% on Tuesday to $24.82 against a previous-day closing price of $25.54. With 0.59 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.87 million shares. During the session, the Health Information Services company that operates in wider Healthcare sector, reached to the highest price of $25.94 whereas the lowest price it dropped to was $24.69. The 52-week range on PRVA shows that it touched its highest point at $44.64 and its lowest point at $17.99 during that stretch. It currently has a 1-year price target of $39.07.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PRVA was down-trending over the past week, with a drop of -6.97%, but this was up by 4.20% over a month. Three-month performance dropped to -22.66% while six-month performance fell -31.83%. The stock gained 21.07% in the past year, while it has gained 9.29% so far this year. A look at the trailing 12-month EPS for PRVA yields -0.36 with Next year EPS estimates of 0.01. For the next quarter, that number is -0.03. This implies an EPS growth rate of -701.50% for this year and 103.80% for next year.

Float and Shares Shorts:

At present, 111.59 million PRVA shares are outstanding with a float of 103.57 million shares on hand for trading. On Oct 13, 2022, short shares totaled 3.25 million, which was 2.92% higher than short shares on Sep 14, 2022. In addition to Mr. Matthew Shawn Morris as the firm’s CEO & Director, Mr. Parth Mehrotra serves as its Pres & COO.

Institutional Ownership:

Through their ownership of 84.19% of PRVA’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 41.53% of PRVA, in contrast to 24.77% held by mutual funds. Shares owned by individuals account for 24.32%. As the largest shareholder in PRVA with 22.10% of the stake, Goldman Sachs & Co. LLC holds 25,256,834 shares worth 25,256,834. A second-largest stockholder of PRVA, The Vanguard Group, Inc., holds 4,684,223 shares, controlling over 4.10% of the firm’s shares. Newton Investment Management Nort is the third largest shareholder in PRVA, holding 3,306,013 shares or 2.89% stake. With a 1.51% stake in PRVA, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 1,728,903 shares are owned by the mutual fund manager. The BNY Mellon Small/Mid Cap Growth F, which owns about 1.46% of PRVA stock, is the second-largest Mutual Fund holder. It holds 1,669,907 shares valued at 37.92 million. Vanguard Small Cap Index Fund holds 1.29% of the stake in PRVA, owning 1,471,567 shares worth 33.42 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PRVA since 15 analysts follow the stock currently. There are 15 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With PRVA analysts setting a high price target of $45.00 and a low target of $28.00, the average target price over the next 12 months is $39.14. Based on these targets, PRVA could surge 81.31% to reach the target high and rise by 12.81% to reach the target low. Reaching the average price target will result in a growth of 57.7% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. PRVA will report FY 2022 earnings on 03/20/2024. Analysts have provided yearly estimates in a range of -$0.22 being high and -$0.29 being low. For PRVA, this leads to a yearly average estimate of -$0.26. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Privia Health Group Inc. surprised analysts by -$0.01 when it reported $0.01 EPS against a consensus estimate of $0.02. The surprise factor in the prior quarter was -$0.10. Based on analyst estimates, the high estimate for the next quarter is $0.11 and the low estimate is -$0.06. The average estimate for the next quarter is thus $0.00.

Summary of Insider Activity:

Insiders traded PRVA stock several times over the past three months with 5 Buys and 22 Sells. In these transactions, 123,317 shares were bought while 12,410,173 shares were sold. The number of buy transactions has increased to 77 while that of sell transactions has risen to 150 over the past year. The total number of shares bought during that period was 12,967,396 while 25,329,001 shares were sold.

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