Algert Global LLC Sells 68,290 Shares of Privia Health Group, Inc. $PRVA

Algert Global LLC lessened its holdings in Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 39.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 103,000 shares of the company's stock after selling 68,290 shares during the quarter. Algert Global LLC owned approximately 0.08% of Privia Health Group worth $2,650,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PRVA. Bayban bought a new stake in Privia Health Group in the fourth quarter valued at about $26,000. Hantz Financial Services Inc. increased its stake in Privia Health Group by 456.2% in the fourth quarter. Hantz Financial Services Inc. now owns 1,129 shares of the company's stock valued at $27,000 after purchasing an additional 926 shares in the last quarter. Global Retirement Partners LLC raised its stake in Privia Health Group by 579.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,584 shares of the company's stock worth $38,000 after buying an additional 1,351 shares during the period. Allworth Financial LP acquired a new stake in Privia Health Group during the 2nd quarter worth $48,000. Finally, Harbor Investment Advisory LLC bought a new position in Privia Health Group during the second quarter worth about $69,000. Institutional investors and hedge funds own 94.48% of the company's stock.

Insider Activity

In other Privia Health Group news, CFO David Mountcastle sold 21,275 shares of the business'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 transaction, the chief financial officer owned 164,853 shares of the company's stock, valued at $4,561,482.51. The trade was a 11.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Shawn Morris sold 53,722 shares of the firm's 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 completion of the sale, the director directly owned 68,188 shares of the company's stock, valued at approximately $1,857,441.12. The trade was a 44.07% 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 sold a total of 327,886 shares of company stock valued at $8,628,256 over the last quarter. 5.70% of the stock is currently owned by company insiders.

Privia Health Group Stock Down 0.3%

PRVA stock opened at $20.79 on Friday. Privia Health Group, Inc. has a twelve month low of $19.53 and a twelve month high of $28.82. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 99.00, a P/E/G ratio of 1.64 and a beta of 0.85. The business has a 50 day moving average price of $24.33 and a two-hundred day moving average price of $23.18.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.12. The business had revenue of $632.63 million for the quarter, compared to the consensus estimate of $597.33 million. Privia Health Group had a net margin of 1.19% and a return on equity of 3.52%. The firm's revenue for the quarter was up 21.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.24 earnings per share. On average, equities research analysts anticipate that Privia Health Group, Inc. will post 0.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Weiss Ratings raised shares of Privia Health Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, July 2nd. 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 reiterated a "buy" rating on shares of Privia Health Group in a report on Thursday, July 23rd. Canaccord Genuity Group set a $32.00 price target on Privia Health Group in a research note on Friday, August 7th. Finally, Barclays cut their price target 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 investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $31.00.

Privia Health Group Company 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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