Legal & General Group Plc purchased a new position in Privia Health Group, Inc. (NASDAQ:PRVA – Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 256,706 shares of the company’s stock, valued at approximately $6,605,000.
A number of other institutional investors also recently bought and sold shares of PRVA. Royal Bank of Canada lifted its stake in Privia Health Group by 63.5% during the 1st quarter. Royal Bank of Canada now owns 245,633 shares of the company’s stock valued at $5,514,000 after acquiring an additional 95,371 shares during the period. AQR Capital Management LLC increased its stake in shares of Privia Health Group by 24.7% in the first quarter. AQR Capital Management LLC now owns 40,781 shares of the company’s stock worth $916,000 after acquiring an additional 8,068 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Privia Health Group by 3.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 118,764 shares of the company’s stock worth $2,666,000 after purchasing an additional 3,714 shares during the last quarter. Intech Investment Management LLC raised its holdings in shares of Privia Health Group by 55.1% during the first quarter. Intech Investment Management LLC now owns 56,553 shares of the company’s stock worth $1,270,000 after purchasing an additional 20,082 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Privia Health Group during the first quarter valued at $154,000. 94.48% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts have commented on PRVA shares. Zacks Research raised shares of Privia Health Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. Canaccord Genuity Group set a $32.00 price objective on Privia Health Group in a research note on Friday, August 7th. Citigroup reissued a “buy” rating on shares of Privia Health Group in a report on Thursday, July 23rd. Weiss Ratings upgraded Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 2nd. Finally, Barclays dropped their target price on Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 26th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Privia Health Group presently has a consensus rating of “Moderate Buy” and an average price target of $31.00.
Privia Health Group Stock Performance
PRVA opened at $20.72 on Thursday. The company has a fifty day moving average of $24.14 and a two-hundred day moving average of $23.17. Privia Health Group, Inc. has a fifty-two week low of $19.53 and a fifty-two week high of $28.82. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 98.67, a PEG ratio of 1.63 and a beta of 0.87.
Privia Health Group (NASDAQ:PRVA – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.12. The firm had revenue of $632.63 million during the quarter, compared to analyst estimates of $597.33 million. Privia Health Group had a return on equity of 3.52% and a net margin of 1.19%.Privia Health Group’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.24 EPS. On average, equities research analysts forecast that Privia Health Group, Inc. will post 0.27 earnings per share for the current year.
Insider Buying and Selling
In other news, CFO David Mountcastle sold 21,275 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $27.67, for a total transaction of $588,679.25. Following the completion of the transaction, the chief financial officer directly owned 164,853 shares of the company’s stock, valued at $4,561,482.51. This represents a 11.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Shawn Morris sold 53,722 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $27.24, for a total value of $1,463,387.28. Following the transaction, the director owned 68,188 shares in the company, valued at $1,857,441.12. This trade represents a 44.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 327,886 shares of company stock valued at $8,628,256 over the last 90 days. Company insiders own 5.70% of the company’s stock.
About Privia Health Group
Privia Health Group (NASDAQ: PRVA) is a physician enablement company that partners with independent physicians, medical groups and health systems to transform the delivery of patient care. Through a clinically integrated network and a proprietary technology platform, the company supports providers in managing population health, delivering coordinated care and optimizing financial performance under both fee-for-service and value-based reimbursement models.
Founded in 2016 and headquartered in McLean, Virginia, Privia Health has rapidly expanded its footprint to serve multiple metropolitan markets across the United States.
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