ArrowMark Colorado Holdings LLC Makes New Investment in Privia Health Group, Inc. $PRVA

Key Points

• ArrowMark Colorado Holdings LLC bought 351,400 shares of Privia Health (~$8.75M), representing about 0.29% ownership, while institutional investors collectively own roughly 94.48% of the company.
• Company insiders have been selling recently: CFO David Mountcastle sold 7,697 shares and Director Matthew Shawn Morris sold 16,550, with insiders disposing of 142,281 shares over the last 90 days and now holding 10.7% of shares.
• Wall Street sentiment is largely positive (13 Buys, 3 Holds) with an average target of $31, and Privia recently beat quarterly expectations with $0.25 EPS (vs. $0.04 est.) and revenue up 17.4% to $541.17M.

ArrowMark Colorado Holdings LLC purchased a new stake in Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 351,400 shares of the company's stock, valued at approximately $8,750,000. ArrowMark Colorado Holdings LLC owned about 0.29% of Privia Health Group as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of PRVA. Canada Pension Plan Investment Board increased its position in shares of Privia Health Group by 48.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 3,700 shares of the company's stock valued at $85,000 after acquiring an additional 1,200 shares during the period. Raymond James Financial Inc. purchased a new position in Privia Health Group during the second quarter valued at approximately $113,000. Covestor Ltd lifted its stake in shares of Privia Health Group by 39.8% in the 3rd quarter. Covestor Ltd now owns 5,824 shares of the company's stock valued at $145,000 after purchasing an additional 1,657 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Privia Health Group in the first quarter worth about $154,000. Finally, CWM LLC raised its holdings in Privia Health Group by 94.2% in the 3rd quarter. CWM LLC now owns 6,634 shares of the company's stock worth $165,000 after purchasing an additional 3,218 shares during the period. Institutional investors and hedge funds own 94.48% of the company's stock.

Insiders Place Their Bets

In other Privia Health Group news, CFO David Mountcastle sold 7,697 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $25.05, for a total value of $192,809.85. Following the transaction, the chief financial officer directly owned 172,909 shares in the company, valued at $4,331,370.45. This represents a 4.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Matthew Shawn Morris sold 16,550 shares of the stock in a transaction on Friday, February 27th. The shares were sold at an average price of $25.00, for a total transaction of $413,750.00. Following the completion of the transaction, the director directly owned 68,188 shares in the company, valued at $1,704,700. This trade represents a 19.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 142,281 shares of company stock valued at $3,338,491. 10.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PRVA shares. Royal Bank Of Canada initiated coverage on shares of Privia Health Group in a report on Friday, January 9th. They set an "outperform" rating and a $31.00 price objective on the stock. Citigroup decreased their target price on shares of Privia Health Group from $34.00 to $32.00 and set a "buy" rating on the stock in a research note on Tuesday, March 3rd. Truist Financial lifted their price target on Privia Health Group from $31.00 to $33.00 and gave the stock a "buy" rating in a report on Monday, March 2nd. Stephens reiterated an "overweight" rating and issued a $32.00 price objective on shares of Privia Health Group in a research report on Thursday, December 4th. Finally, Wolfe Research set a $31.00 target price on shares of Privia Health Group in a research note on Tuesday, January 6th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Privia Health Group has an average rating of "Moderate Buy" and an average target price of $31.00.

Privia Health Group Stock Performance

Shares of PRVA opened at $21.68 on Monday. Privia Health Group, Inc. has a 1 year low of $18.77 and a 1 year high of $26.51. The stock has a 50-day simple moving average of $22.89 and a 200-day simple moving average of $23.61. The stock has a market capitalization of $2.68 billion, a PE ratio of 127.53, a PEG ratio of 1.37 and a beta of 0.82.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.04 by $0.21. The company had revenue of $541.17 million during the quarter, compared to analysts' expectations of $516.61 million. Privia Health Group had a net margin of 1.08% and a return on equity of 3.06%. The firm's revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.21 EPS. Analysts predict that Privia Health Group, Inc. will post 0.14 EPS for the current year.

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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