PDT Partners LLC Takes $4.65 Million Position in Privia Health Group, Inc. $PRVA

Key Points

• PDT Partners acquired a new 180,779-share stake in Privia Health Group valued at approximately $4.65 million, while institutional investors collectively own 94.48% of the company.
• 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, above the stock’s $21.20 opening price.
• Privia exceeded quarterly expectations, reporting $0.19 in earnings per share versus $0.07 expected and $632.63 million in revenue, up 21.4% year over year; however, insiders sold $8.63 million of stock during the last quarter.

PDT Partners LLC acquired a new position in Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 180,779 shares of the company's stock, valued at approximately $4,651,000. PDT Partners LLC owned 0.14% of Privia Health Group as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Renaissance Group LLC bought a new stake in shares of Privia Health Group during the fourth quarter worth approximately $7,776,000. Oppenheimer Asset Management Inc. acquired a new position in Privia Health Group in the second quarter valued at approximately $5,841,000. Principal Financial Group Inc. boosted its stake 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 valued at $66,099,000 after acquiring an additional 43,589 shares during the last quarter. Van Berkom & Associates Inc. grew its holdings in Privia Health Group by 5.4% during the 1st quarter. Van Berkom & Associates Inc. now owns 4,053,043 shares of the company's stock worth $83,371,000 after acquiring an additional 208,787 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new stake in Privia Health Group during the 1st quarter worth $1,055,000. 94.48% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PRVA has been the topic of a number of analyst reports. Canaccord Genuity Group set a $32.00 price target on Privia Health Group in a research note on Friday, August 7th. Zacks Research upgraded Privia Health Group from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 5th. Citigroup restated a "buy" rating on shares of Privia Health Group in a report on Thursday, July 23rd. Weiss Ratings upgraded Privia Health Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, July 2nd. Finally, Barclays lowered their price target on Privia Health Group from $25.00 to $24.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 26th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $31.00.

Privia Health Group Stock Up 0.9%

PRVA opened at $21.20 on Wednesday. Privia Health Group, Inc. has a 12 month low of $19.53 and a 12 month high of $28.82. The company has a fifty day simple moving average of $24.50 and a 200 day simple moving average of $23.21. The stock has a market cap of $2.71 billion, a P/E ratio of 100.96, a P/E/G ratio of 1.66 and a beta of 0.85.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $632.63 million for the quarter, compared to analyst estimates of $597.33 million. During the same period in the previous year, the company posted $0.24 earnings per share. The company's revenue for the quarter was up 21.4% on a year-over-year basis. On average, equities research analysts expect that Privia Health Group, Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Activity

In other Privia Health Group news, CFO David Mountcastle sold 24,734 shares of Privia Health Group 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 transaction, the chief financial officer owned 186,728 shares of the company's stock, valued at approximately $5,135,020. The trade was a 11.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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 the company's stock in a transaction that occurred on 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 completion of the transaction, the director owned 76,651 shares of the company's stock, valued at $1,941,569.83. This trade represents a 53.48% 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 have sold a total of 327,886 shares of company stock worth $8,628,256 in the last quarter. 5.70% of the stock is currently owned by company insiders.

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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