Riverbridge Partners LLC trimmed its position in Privia Health Group, Inc. (NASDAQ:PRVA – Free Report) by 3.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,895,288 shares of the company’s stock after selling 103,309 shares during the quarter. Privia Health Group accounts for approximately 1.7% of Riverbridge Partners LLC’s portfolio, making the stock its 18th largest holding. Riverbridge Partners LLC’s holdings in Privia Health Group were worth $57,008,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Illinois Municipal Retirement Fund grew its holdings in shares of Privia Health Group by 5.8% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 60,639 shares of the company’s stock worth $1,194,000 after purchasing an additional 3,316 shares during the period. Parallel Advisors LLC increased its position in Privia Health Group by 313.7% during the 3rd quarter. Parallel Advisors LLC now owns 2,180 shares of the company’s stock worth $43,000 after purchasing an additional 1,653 shares in the last quarter. CenterBook Partners LP purchased a new position in Privia Health Group in the third quarter valued at approximately $1,152,000. Heritage Family Offices LLP purchased a new position in Privia Health Group in the third quarter valued at approximately $34,000. Finally, Legacies Wealth LLC purchased a new position in Privia Health Group in the third quarter valued at approximately $57,000. 94.48% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
PRVA has been the topic of a number of recent research reports. Canaccord Genuity Group lifted their price target on shares of Privia Health Group from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, November 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Privia Health Group in a research report on Tuesday, September 29th. Zacks Research raised shares of Privia Health Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 5th. Citigroup reissued a “buy” rating on shares of Privia Health Group in a research note on Thursday, July 23rd. Finally, Piper Sandler lifted their target price on shares of Privia Health Group from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Friday, November 6th. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.25.
View Our Latest Report on PRVA
Privia Health Group Price Performance
Shares of NASDAQ PRVA opened at $24.37 on Wednesday. Privia Health Group, Inc. has a 1-year low of $18.92 and a 1-year high of $28.82. The business has a 50-day moving average of $21.20 and a 200-day moving average of $22.64. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 93.73 and a beta of 0.76.
Privia Health Group (NASDAQ:PRVA – Get Free Report) last posted its earnings results on Thursday, November 5th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.12. The business had revenue of $656.96 million during the quarter, compared to analyst estimates of $610.72 million. Privia Health Group had a return on equity of 4.20% and a net margin of 1.43%. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.29 earnings per share. Research analysts expect that Privia Health Group, Inc. will post 0.27 EPS for the current fiscal year.
Privia Health Group Profile
Privia Health Group, Inc. is a physician enablement company that partners with independent medical groups, health systems and other providers. Its technology-enabled platform is designed to help physicians manage their practices and deliver coordinated care, while retaining their clinical independence. The company provides practice management, technology, care coordination and population health services. It also helps providers participate in value-based care arrangements, which tie payments more closely to the quality and efficiency of care.
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