Advisors Preferred LLC Invests $1.70 Million in Privia Health Group, Inc. $PRVA

Key Points

• Advisors Preferred LLC initiated a new position in Privia Health Group, buying 82,458 shares worth about $1.7 million in the first quarter.
• Institutional ownership in PRVA remains high, with 94.48% of shares held by hedge funds and other investors. Several firms increased their stakes during the quarter, including Royal Bank of Canada and AQR Capital Management.
• Analysts are still broadly constructive on the stock: the consensus rating is Moderate Buy with an average price target of $31.15, even as some firms recently trimmed targets or turned more cautious.

Advisors Preferred LLC bought a new stake in Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 82,458 shares of the company's stock, valued at approximately $1,696,000. Advisors Preferred LLC owned approximately 0.07% of Privia Health Group at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PRVA. Royal Bank of Canada grew 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 worth $5,514,000 after buying an additional 95,371 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Privia Health Group by 24.7% during 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position 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 acquiring an additional 3,714 shares during the last quarter. Intech Investment Management LLC increased its holdings in shares of Privia Health Group by 55.1% in the 1st quarter. Intech Investment Management LLC now owns 56,553 shares of the company's stock valued at $1,270,000 after acquiring an additional 20,082 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in shares of Privia Health Group in the 1st quarter valued at $154,000. 94.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Evercore set a $26.00 price target on shares of Privia Health Group in a research note on Wednesday, April 8th. Weiss Ratings upgraded shares of Privia Health Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, July 2nd. Zacks Research cut shares of Privia Health Group from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 7th. Barclays decreased their target price on shares of Privia Health Group from $25.00 to $24.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 26th. Finally, Canaccord Genuity Group lowered their price target on Privia Health Group from $35.00 to $34.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $31.15.

Privia Health Group Stock Performance

Shares of PRVA opened at $28.03 on Wednesday. The stock has a market capitalization of $3.53 billion, a P/E ratio of 175.20, a P/E/G ratio of 2.21 and a beta of 0.83. Privia Health Group, Inc. has a 1 year low of $18.77 and a 1 year high of $28.30. The company's fifty day moving average is $23.90 and its two-hundred day moving average is $23.19.

Insider Transactions at Privia Health Group

In related news, CEO Parth Mehrotra sold 105,439 shares of the firm's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $22.55, for a total value of $2,377,649.45. Following the completion of the sale, the chief executive officer owned 450,004 shares in the company, valued at $10,147,590.20. This trade represents a 18.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Matthew Shawn Morris sold 88,110 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $25.33, for a total value of $2,231,826.30. Following the transaction, the director directly owned 76,651 shares of the company's stock, valued at approximately $1,941,569.83. This trade represents a 53.48% decrease in their ownership of the stock. 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 have sold a total of 478,855 shares of company stock worth $12,099,109 over the last ninety days. 5.70% of the stock is currently owned by company insiders.

Privia Health Group Profile

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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