Privia Health Group Inc. (PRVA) can make a big difference with a little luck

Privia Health Group Inc. (NASDAQ: PRVA) stock fell -3.00% on Monday to $23.59 against a previous-day closing price of $24.32. With 6.97 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.97 million shares. During the session, the Health Information Services company that operates in wider Healthcare sector, reached to the highest price of $24.21 whereas the lowest price it dropped to was $23.18. The 52-week range on PRVA shows that it touched its highest point at $41.28 and its lowest point at $20.64 during that stretch. It currently has a 1-year price target of $37.64. Beta for the stock currently stands at 0.81.

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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 -7.89%, but this was down by -6.02% over a month. Three-month performance dropped to -6.39% while six-month performance fell -12.89%. The stock lost -43.86% in the past year, while it has gained 3.87% so far this year. A look at the trailing 12-month EPS for PRVA yields 0.29 with Next year EPS estimates of 0.29. For the next quarter, that number is 0.05. This implies an EPS growth rate of 95.80% for this year and 34.26% for next year.

Float and Shares Shorts:

At present, 116.16 million PRVA shares are outstanding with a float of 107.12 million shares on hand for trading. On Aug 30, 2023, short shares totaled 6.19 million, which was 5.28% higher than short shares on Jul 30, 2023. In addition to Mr. Parth Mehrotra as the firm’s CEO & Director, Mr. David Mountcastle CPA, MBA serves as its Exec. VP, CFO & Principal Accounting Officer.

Institutional Ownership:

Through their ownership of 81.21% of PRVA’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 53.80% of PRVA, in contrast to 40.76% held by mutual funds. Shares owned by individuals account for 29.27%. As the largest shareholder in PRVA with 11.64% of the stake, Fidelity Management & Research Co holds 13,665,817 shares worth 13,665,817. A second-largest stockholder of PRVA, BlackRock Fund Advisors, holds 12,695,741 shares, controlling over 10.82% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in PRVA, holding 10,716,139 shares or 9.13% stake. With a 5.64% stake in PRVA, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 6,619,902 shares are owned by the mutual fund manager. The Fidelity Select Port. – Health Ca, which owns about 2.76% of PRVA stock, is the second-largest Mutual Fund holder. It holds 3,240,000 shares valued at 85.05 million. Vanguard Total Stock Market ETF holds 2.74% of the stake in PRVA, owning 3,216,229 shares worth 84.43 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, PRVA reported revenue of $335.54M and operating income of -$5.25M. The EBITDA in the recently reported quarter was -$4.08M and diluted EPS was -$0.10.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PRVA since 0 analysts follow the stock currently. 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 $31.50, the average target price over the next 12 months is $37.64. Based on these targets, PRVA could surge 90.76% to reach the target high and rise by 33.53% to reach the target low. Reaching the average price target will result in a growth of 59.56% 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.

Summary of Insider Activity:

Insiders traded PRVA stock several times over the past three months with 13 Buys and 12 Sells. In these transactions, 148,601 shares were bought while 141,132 shares were sold. The number of buy transactions has increased to 82 while that of sell transactions has risen to 146 over the past year. The total number of shares bought during that period was 3,136,405 while 107,539,784 shares were sold.

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