Invesco Ltd. Grows Position in Privia Health Group, Inc. $PRVA

Key Points

• Invesco Ltd. increased its stake in Privia Health Group, Inc. by 4.3%, acquiring an additional 15,945 shares, bringing its total ownership to 389,784 shares valued at approximately $8.75 million.
• Numerous other investors, including CWM LLC and Bessemer Group Inc., also raised their stakes significantly in Privia Health Group during the same quarter, showcasing strong institutional interest in the company.
• Analysts have varying opinions on Privia Health Group's stock, with a consensus rating of "Moderate Buy" and a target price range between $24.00 and $35.00, indicating expectations for future growth despite recent earnings misses.

Invesco Ltd. lifted its holdings in shares of Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 4.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 389,784 shares of the company's stock after acquiring an additional 15,945 shares during the quarter. Invesco Ltd. owned approximately 0.32% of Privia Health Group worth $8,751,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CWM LLC raised its holdings in shares of Privia Health Group by 50.3% during the first quarter. CWM LLC now owns 1,804 shares of the company's stock valued at $40,000 after acquiring an additional 604 shares in the last quarter. Bessemer Group Inc. grew its stake in Privia Health Group by 2,393.4% in the first quarter. Bessemer Group Inc. now owns 2,269 shares of the company's stock worth $51,000 after purchasing an additional 2,178 shares during the period. GAMMA Investing LLC grew its stake in Privia Health Group by 113.1% in the first quarter. GAMMA Investing LLC now owns 2,866 shares of the company's stock worth $64,000 after purchasing an additional 1,521 shares during the period. Financial Management Professionals Inc. grew its stake in Privia Health Group by 28.7% in the first quarter. Financial Management Professionals Inc. now owns 3,383 shares of the company's stock worth $76,000 after purchasing an additional 754 shares during the period. Finally, Vestcor Inc purchased a new stake in Privia Health Group in the first quarter worth $76,000. Institutional investors own 94.48% of the company's stock.

Analyst Upgrades and Downgrades

PRVA has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on Privia Health Group from $29.00 to $32.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 28th. JMP Securities upped their price target on Privia Health Group from $29.00 to $30.00 and gave the stock a "market outperform" rating in a research note on Friday. Zacks Research raised Privia Health Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 19th. Barclays upped their price target on Privia Health Group from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 27th. Finally, Evercore ISI reduced their price target on Privia Health Group from $30.00 to $28.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $28.08.

Privia Health Group Stock Up 5.6%

Shares of NASDAQ PRVA traded up $1.23 during trading on Friday, reaching $23.04. The company had a trading volume of 1,240,437 shares, compared to its average volume of 984,088. Privia Health Group, Inc. has a 12-month low of $16.47 and a 12-month high of $26.09. The stock has a market cap of $2.83 billion, a PE ratio of 209.47, a P/E/G ratio of 3.34 and a beta of 0.80. The business's 50-day moving average is $20.91 and its 200 day moving average is $22.65.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.03). Privia Health Group had a return on equity of 2.13% and a net margin of 0.78%.The company had revenue of $521.15 million during the quarter, compared to analysts' expectations of $466.97 million. During the same period in the prior year, the company posted $0.19 earnings per share. The company's revenue was up 23.4% on a year-over-year basis. Privia Health Group has set its FY 2025 guidance at EPS. On average, analysts anticipate 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.