Hsbc Holdings PLC Acquires 23,983 Shares of Privia Health Group, Inc. $PRVA

Key Points

• Hsbc Holdings PLC increased its stake in Privia Health Group by 55.5%, owning 67,192 shares worth approximately $1.49 million as of its latest filing.
• Privia Health Group reported a 23.4% increase in quarterly revenue year-over-year, totaling $521.15 million, but missed earnings expectations with $0.02 EPS compared to a consensus estimate of $0.05.
• The stock has a market capitalization of $2.68 billion and a consensus rating of "Moderate Buy" with an average price target of $28.00.

Hsbc Holdings PLC raised its holdings in Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 55.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,192 shares of the company's stock after purchasing an additional 23,983 shares during the period. Hsbc Holdings PLC owned approximately 0.06% of Privia Health Group worth $1,493,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of PRVA. CWM LLC boosted its holdings in Privia Health Group by 50.3% in the 1st quarter. CWM LLC now owns 1,804 shares of the company's stock valued at $40,000 after purchasing an additional 604 shares during the period. Bessemer Group Inc. boosted its holdings in Privia Health Group by 2,393.4% in the 1st quarter. Bessemer Group Inc. now owns 2,269 shares of the company's stock valued at $51,000 after purchasing an additional 2,178 shares during the period. Russell Investments Group Ltd. boosted its holdings in Privia Health Group by 2,852.2% in the 1st quarter. Russell Investments Group Ltd. now owns 2,657 shares of the company's stock valued at $60,000 after purchasing an additional 2,567 shares during the period. GAMMA Investing LLC boosted its holdings in Privia Health Group by 113.1% in the 1st quarter. GAMMA Investing LLC now owns 2,866 shares of the company's stock valued at $64,000 after purchasing an additional 1,521 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Privia Health Group by 2,115.3% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,323 shares of the company's stock valued at $75,000 after buying an additional 3,173 shares during the period. Institutional investors own 94.48% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Privia Health Group from $29.00 to $32.00 and gave the company an "overweight" rating in a report on Wednesday, May 28th. Evercore ISI decreased their target price on shares of Privia Health Group from $30.00 to $28.00 and set an "outperform" rating on the stock in a report on Wednesday, July 9th. Citigroup reissued an "outperform" rating on shares of Privia Health Group in a report on Friday, August 29th. Barclays raised their target price on shares of Privia Health Group from $23.00 to $24.00 and gave the company an "equal weight" rating in a report on Tuesday, May 27th. Finally, JMP Securities raised their target price on shares of Privia Health Group from $29.00 to $30.00 and gave the company a "market outperform" rating in a report on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $28.08.

Privia Health Group Stock Performance

Shares of Privia Health Group stock traded down $0.02 during midday trading on Wednesday, hitting $23.17. 600,569 shares of the company traded hands, compared to its average volume of 960,541. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of 210.66, a PEG ratio of 3.37 and a beta of 0.82. The firm's fifty day moving average price is $20.99 and its 200-day moving average price is $22.62. Privia Health Group, Inc. has a 12 month low of $16.47 and a 12 month high of $26.09.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.03). The company had revenue of $521.15 million for the quarter, compared to the consensus estimate of $466.97 million. Privia Health Group had a net margin of 0.78% and a return on equity of 2.13%. The company's revenue for the quarter was up 23.4% compared to the same quarter last year. During the same period last year, the firm posted $0.19 earnings per share. Privia Health Group has set its FY 2025 guidance at EPS. Equities research analysts forecast that Privia Health Group, Inc. will post 0.14 earnings per share for the current year.

About Privia Health Group

Privia Health Group, Inc operates as a national physician-enablement company in the United States. The company collaborates with medical groups, health plans, and health systems to optimize physician practices, enhance patient experiences, and reward doctors for delivering care in-person and virtual settings.