Fort Washington Investment Advisors Inc. OH Acquires Shares of 189,611 Privia Health Group, Inc. $PRVA

Key Points

• Fort Washington Investment Advisors opened a new position in Privia Health Group, buying 189,611 shares valued at about $3.9 million in the first quarter.
• Privia Health Group reported better-than-expected quarterly earnings, with EPS of $0.19 versus the $0.08 consensus and revenue of $603.85 million, up 25.8% year over year.
• Insiders sold shares recently, including the CFO and a director, while analysts remain generally positive with a Moderate Buy consensus and an average price target of $31.15.

Fort Washington Investment Advisors Inc. OH bought a new position in Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 189,611 shares of the company's stock, valued at approximately $3,900,000. Fort Washington Investment Advisors Inc. OH owned approximately 0.15% of Privia Health Group at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Bayban bought a new stake in Privia Health Group in the fourth quarter valued at $26,000. Hantz Financial Services Inc. boosted its stake in shares of Privia Health Group by 456.2% in the 4th 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 grew its holdings in shares of Privia Health Group by 579.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,584 shares of the company's stock worth $38,000 after purchasing an additional 1,351 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of Privia Health Group by 48.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 3,700 shares of the company's stock worth $85,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new position in Privia Health Group during the 4th quarter valued at about $93,000. Institutional investors own 94.48% of the company's stock.

Privia Health Group Trading Down 0.1%

Shares of NASDAQ PRVA opened at $25.55 on Tuesday. Privia Health Group, Inc. has a 1 year low of $18.77 and a 1 year high of $26.51. The firm's 50-day moving average is $23.22 and its 200-day moving average is $22.95. The firm has a market capitalization of $3.22 billion, a PE ratio of 159.70, a price-to-earnings-growth ratio of 2.02 and a beta of 0.90.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.11. Privia Health Group had a net margin of 0.97% and a return on equity of 2.81%. The business had revenue of $603.85 million during the quarter, compared to the consensus estimate of $560.99 million. During the same period in the previous year, the firm posted $0.22 earnings per share. Privia Health Group's revenue for the quarter was up 25.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Privia Health Group, Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO David Mountcastle sold 7,179 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $25.03, for a total value of $179,690.37. Following the transaction, the chief financial officer owned 214,847 shares of the company's stock, valued at $5,377,620.41. This represents a 3.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 17,096 shares of the firm's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $24.99, for a total value of $427,229.04. Following the completion of the transaction, the director owned 68,188 shares in the company, valued at $1,704,018.12. This represents a 20.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 156,535 shares of company stock valued at $3,586,903 in the last 90 days. 5.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on PRVA shares. Canaccord Genuity Group decreased their price objective on shares of Privia Health Group from $35.00 to $34.00 and set a "buy" rating on the stock in a research note on Friday, May 8th. Evercore set a $26.00 target price on shares of Privia Health Group in a research note on Wednesday, April 8th. Weiss Ratings downgraded Privia Health Group from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, May 8th. Barclays decreased their price target on Privia Health Group from $25.00 to $24.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 26th. Finally, Truist Financial raised their price target on Privia Health Group from $31.00 to $33.00 and gave the company a "buy" rating in a report on Monday, March 2nd. Eleven research 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 currently has an average rating of "Moderate Buy" and a consensus target price of $31.15.

About Privia Health Group

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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