Man Group plc Purchases New Position in Privia Health Group, Inc. $PRVA

Key Points

• Man Group plc acquired 210,624 shares of Privia Health Group worth approximately $5.4 million, representing about 0.16% of the company. Institutional investors collectively own 94.48% of PRVA.
• Analysts maintain a generally positive outlook, with 11 Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $31.
• Privia exceeded quarterly expectations with adjusted EPS of $0.19 versus $0.07 expected and revenue of $632.6 million, up 21.4% year over year. However, insiders sold roughly $8.6 million of stock over the past 90 days.

Man Group plc bought a new stake in shares of Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 210,624 shares of the company's stock, valued at approximately $5,419,000. Man Group plc owned approximately 0.16% of Privia Health Group at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bayban purchased a new position in shares of Privia Health Group in the fourth quarter worth $26,000. Hantz Financial Services Inc. grew its position in Privia Health Group by 456.2% during the fourth quarter. Hantz Financial Services Inc. now owns 1,129 shares of the company's stock valued at $27,000 after buying an additional 926 shares during the period. Global Retirement Partners LLC grew its position in shares of Privia Health Group by 579.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,584 shares of the company's stock valued at $38,000 after acquiring an additional 1,351 shares during the period. Allworth Financial LP purchased a new stake in Privia Health Group in the second quarter worth about $48,000. Finally, Harbor Investment Advisory LLC bought a new stake in Privia Health Group during the 2nd quarter worth approximately $69,000. Institutional investors own 94.48% of the company's stock.

Analysts Set New Price Targets

PRVA has been the topic of several research analyst reports. Barclays lowered their target price on shares of Privia Health Group from $25.00 to $24.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 26th. Canaccord Genuity Group set a $32.00 target price on Privia Health Group in a report on Friday, August 7th. 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. Citigroup reiterated a "buy" rating on shares of Privia Health Group in a research note on Thursday, July 23rd. Finally, Zacks Research raised shares of Privia Health Group from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 5th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Privia Health Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.00.

Privia Health Group Stock Performance

PRVA opened at $20.79 on Friday. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of 99.00, a PEG ratio of 1.64 and a beta of 0.85. Privia Health Group, Inc. has a fifty-two week low of $19.53 and a fifty-two week high of $28.82. The company has a fifty day moving average of $24.33 and a two-hundred day moving average of $23.18.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.07 by $0.12. The company had revenue of $632.63 million during the quarter, compared to analyst estimates of $597.33 million. Privia Health Group had a return on equity of 3.52% and a net margin of 1.19%.Privia Health Group's quarterly revenue was up 21.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.24 EPS. On average, equities research analysts forecast that Privia Health Group, Inc. will post 0.27 earnings per share for the current year.

Insider Activity

In other Privia Health Group news, Director Matthew Shawn Morris sold 53,722 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $27.24, for a total transaction of $1,463,387.28. Following the sale, the director directly owned 68,188 shares in the company, valued at $1,857,441.12. This represents a 44.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Mountcastle sold 21,275 shares of Privia Health Group stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $27.67, for a total value of $588,679.25. Following the completion of the transaction, the chief financial officer owned 164,853 shares of the company's stock, valued at $4,561,482.51. The trade was a 11.43% 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. Over the last 90 days, insiders sold 327,886 shares of company stock worth $8,628,256. 5.70% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding PRVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Privia Health Group, Inc. (NASDAQ:PRVA - Free Report).

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.