Hsbc Holdings PLC Boosts Stock Position in Privia Health Group, Inc. $PRVA

Key Points

• HSBC increased its Privia Health Group stake by 164.8% in the second quarter, purchasing 62,362 additional shares to reach 100,213 shares valued at approximately $2.6 million. Institutional investors collectively own 94.48% of the company.
• Privia exceeded quarterly expectations, reporting $0.19 in EPS versus the $0.07 consensus and $632.63 million in revenue, up 21.4% year over year. Analysts maintain a “Moderate Buy” consensus rating with a $31 average price target.
• Company insiders sold 327,886 shares worth $8.63 million over the past three months, including sizable sales by a director and the CFO under pre-arranged Rule 10b5-1 plans.

Hsbc Holdings PLC boosted its position in Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 164.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 100,213 shares of the company's stock after purchasing an additional 62,362 shares during the quarter. Hsbc Holdings PLC owned about 0.08% of Privia Health Group worth $2,602,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in Privia Health Group by 14.0% during the second quarter. GAMMA Investing LLC now owns 4,819 shares of the company's stock worth $124,000 after acquiring an additional 592 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Privia Health Group by 8.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,361 shares of the company's stock worth $213,000 after purchasing an additional 840 shares during the period. ProShare Advisors LLC lifted its stake in shares of Privia Health Group by 4.1% during the 4th quarter. ProShare Advisors LLC now owns 22,576 shares of the company's stock worth $535,000 after purchasing an additional 898 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Privia Health Group by 5.9% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 16,250 shares of the company's stock worth $385,000 after purchasing an additional 903 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its holdings in shares of Privia Health Group by 456.2% during the fourth quarter. Hantz Financial Services Inc. now owns 1,129 shares of the company's stock worth $27,000 after purchasing an additional 926 shares during the last quarter. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Privia Health Group

In other Privia Health Group news, Director Matthew Morris sold 88,110 shares of the firm's stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $25.33, for a total transaction of $2,231,826.30. Following the completion of the sale, the director owned 76,651 shares in the company, valued at $1,941,569.83. This trade represents a 53.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Mountcastle sold 24,734 shares of the firm's stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $27.50, for a total value of $680,185.00. Following the sale, the chief financial officer owned 186,728 shares of the company's stock, valued at approximately $5,135,020. This trade represents a 11.70% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 327,886 shares of company stock valued at $8,628,256 in the last three months. 5.70% of the stock is currently owned by company insiders.

Privia Health Group Stock Up 0.2%

NASDAQ PRVA opened at $20.42 on Friday. The stock has a market cap of $2.61 billion, a PE ratio of 97.24 and a beta of 0.87. Privia Health Group, Inc. has a fifty-two week low of $19.53 and a fifty-two week high of $28.82. The business has a 50 day moving average price of $23.36 and a two-hundred day moving average price of $23.09.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.19 EPS 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 analysts' expectations of $597.33 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 21.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 earnings per share. Sell-side analysts anticipate that Privia Health Group, Inc. will post 0.27 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Zacks Research raised Privia Health Group from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 5th. Weiss Ratings raised shares of Privia Health Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, July 2nd. 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 target price on shares of Privia Health Group in a research report on Friday, August 7th. Finally, Barclays lowered 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 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 stock. According to MarketBeat, Privia Health Group has a consensus rating of "Moderate Buy" and a consensus price target of $31.00.

Privia Health Group Company Profile

Privia Health Group, Inc is a national physician enablement company that supports independent medical groups in delivering value-based care. Through its technology-enabled platform, the company provides administrative, clinical, and operational services designed to help physicians manage patient populations, improve care coordination, and participate in contracts with health plans and employers.

Privia's services include practice management, electronic health record and data analytics tools, revenue-cycle support, marketing, recruiting, and other nonclinical business functions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.