Hsbc Holdings PLC Makes New Investment in Privia Health Group, Inc. $PRVA

Key Points

• HSBC Holdings PLC bought 100,213 Privia Health shares worth approximately $2.6 million during the second quarter, joining other institutional investors; hedge funds and institutions now own 94.48% of the company.
• Privia Health exceeded quarterly expectations, reporting $0.19 in EPS versus the $0.07 consensus and $632.6 million in revenue, up 21.4% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $31, compared with a recent share price of $20.79.
• Company insiders sold 327,886 shares worth approximately $8.6 million over the past 90 days, including sizable sales by the CFO and a director under pre-arranged Rule 10b5-1 plans.

Hsbc Holdings PLC bought a new stake in shares of Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 100,213 shares of the company's stock, valued at approximately $2,602,000. Hsbc Holdings PLC owned approximately 0.08% of Privia Health Group at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in PRVA. Renaissance Group LLC bought a new position in shares of Privia Health Group during the 4th quarter valued at approximately $7,776,000. Oppenheimer Asset Management Inc. purchased a new stake in Privia Health Group during the 2nd quarter valued at $5,841,000. Principal Financial Group Inc. lifted its position in Privia Health Group by 1.6% in the fourth quarter. Principal Financial Group Inc. now owns 2,787,802 shares of the company's stock worth $66,099,000 after buying an additional 43,589 shares during the last quarter. Van Berkom & Associates Inc. lifted its position in Privia Health Group by 5.4% in the first quarter. Van Berkom & Associates Inc. now owns 4,053,043 shares of the company's stock worth $83,371,000 after buying an additional 208,787 shares during the last quarter. Finally, Louisiana State Employees Retirement System purchased a new position in Privia Health Group during the first quarter worth $1,055,000. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Privia Health Group Price Performance

PRVA opened at $20.79 on Monday. The business has a fifty day moving average of $24.33 and a 200 day moving average of $23.19. The stock has a market cap of $2.66 billion, a P/E ratio of 99.00, a PEG ratio of 1.64 and a beta of 0.85. Privia Health Group, Inc. has a 52-week low of $19.53 and a 52-week high of $28.82.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.12. Privia Health Group had a return on equity of 3.52% and a net margin of 1.19%.The business had revenue of $632.63 million for the quarter, compared to analyst estimates of $597.33 million. During the same quarter last year, the firm posted $0.24 earnings per share. The business's revenue was up 21.4% compared to the same quarter last year. Equities analysts anticipate that Privia Health Group, Inc. will post 0.27 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Barclays cut their price objective on shares of 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. Citigroup restated a "buy" rating on shares of Privia Health Group in a report on Thursday, July 23rd. Weiss Ratings upgraded shares of Privia Health Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, July 2nd. Canaccord Genuity Group set a $32.00 price target on shares of Privia Health Group in a report on Friday, August 7th. Finally, Zacks Research raised shares of Privia Health Group from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 5th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Privia Health Group currently has an average rating of "Moderate Buy" and a consensus price target of $31.00.

Insider Transactions at Privia Health Group

In related news, CFO David Mountcastle sold 24,734 shares of the firm's stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $27.50, for a total value of $680,185.00. Following the transaction, the chief financial officer owned 186,728 shares of the company's stock, valued at $5,135,020. This trade represents a 11.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Shawn Morris sold 88,110 shares of Privia Health Group stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $25.33, for a total transaction of $2,231,826.30. Following the sale, the director owned 76,651 shares of the company's stock, valued at $1,941,569.83. The trade was a 53.48% decrease in their position. 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. Over the last 90 days, insiders sold 327,886 shares of company stock worth $8,628,256. Company insiders own 5.70% of the company's stock.

Privia Health Group Company 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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