CenterBook Partners LP Acquires New Shares in Privia Health Group, Inc. $PRVA

Key Points

• CenterBook Partners initiated a position in Privia Health Group, buying 58,501 shares worth approximately $1.15 million in the third quarter. Institutional investors collectively own 94.48% of the company.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $31.25; Canaccord and Piper Sandler recently raised their targets to $33 and $38, respectively.
• Privia reported quarterly EPS of $0.21, beating the $0.09 consensus, and revenue of $656.96 million, up 13.2% year over year.

CenterBook Partners LP purchased a new position in shares of Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 58,501 shares of the company's stock, valued at approximately $1,152,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Heritage Family Offices LLP acquired a new stake in shares of Privia Health Group in the third quarter worth approximately $34,000. Legacies Wealth LLC purchased a new position in Privia Health Group during the third quarter worth about $57,000. Covestor Ltd raised its stake in Privia Health Group by 33.7% during the third quarter. Covestor Ltd now owns 4,330 shares of the company's stock worth $85,000 after purchasing an additional 1,092 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in Privia Health Group by 6.3% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 28,614 shares of the company's stock valued at $563,000 after purchasing an additional 1,700 shares during the last quarter. Finally, Vise Technologies Inc. acquired a new position in Privia Health Group in the 3rd quarter valued at about $215,000. Institutional investors and hedge funds own 94.48% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PRVA shares. Canaccord Genuity Group raised their target price on Privia Health Group from $32.00 to $33.00 and gave the stock a "buy" rating in a research note on Friday. Piper Sandler increased their price objective on shares of Privia Health Group from $36.00 to $38.00 and gave the company an "overweight" rating in a research report on Friday. Weiss Ratings restated a "hold (c)" rating on shares of Privia Health Group in a research note on Tuesday, September 29th. Zacks Research raised Privia Health Group from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 5th. Finally, Citigroup restated a "buy" rating on shares of Privia Health Group in a research report on Thursday, July 23rd. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $31.25.

Privia Health Group Stock Performance

NASDAQ:PRVA opened at $24.54 on Tuesday. Privia Health Group, Inc. has a 1 year low of $18.92 and a 1 year high of $28.82. The stock has a fifty day moving average price of $21.12 and a two-hundred day moving average price of $22.64. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of 94.39 and a beta of 0.76.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.21 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.12. The business had revenue of $656.96 million for the quarter, compared to analysts' expectations of $610.72 million. Privia Health Group had a net margin of 1.19% and a return on equity of 3.52%. The business's revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.29 EPS. On average, analysts predict that Privia Health Group, Inc. will post 0.27 EPS for the current year.

Privia Health Group Company 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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