Privia Health Group, Inc. $PRVA Position Boosted by Fort Washington Investment Advisors Inc. OH

Key Points

• Fort Washington Investment Advisors increased its Privia Health Group position by 65.1% in the third quarter, holding 1.74 million shares valued at approximately $34.25 million. Institutional investors collectively own 94.48% of PRVA.
• Analyst sentiment is generally positive, with 11 Buy ratings and three Holds. Privia has a consensus rating of “Moderate Buy” and an average price target of $31, compared with a recent share price of $21.67.
• Privia reported quarterly earnings of $0.19 per share, beating the $0.07 consensus estimate, while revenue rose 21.4% year over year to $632.63 million. The company supports independent medical practices through technology, administrative services and value-based care programs.

Fort Washington Investment Advisors Inc. OH lifted its position in Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 65.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,739,427 shares of the company's stock after purchasing an additional 686,156 shares during the period. Fort Washington Investment Advisors Inc. OH owned about 1.36% of Privia Health Group worth $34,249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of Privia Health Group by 33.5% during the 3rd quarter. GAMMA Investing LLC now owns 6,432 shares of the company's stock valued at $127,000 after acquiring an additional 1,613 shares during the period. Central Pacific Bank Trust Division raised its holdings in Privia Health Group by 68.6% in the 3rd quarter. Central Pacific Bank Trust Division now owns 11,801 shares of the company's stock worth $232,000 after purchasing an additional 4,800 shares during the period. QRG Capital Management Inc. acquired a new position in Privia Health Group in the 2nd quarter worth about $505,000. Integrated Wealth Concepts LLC acquired a new position in Privia Health Group in the 2nd quarter worth about $74,000. Finally, Squarepoint Ops LLC boosted its position in Privia Health Group by 313.2% during the second quarter. Squarepoint Ops LLC now owns 198,763 shares of the company's stock worth $5,114,000 after purchasing an additional 150,655 shares in the last quarter. 94.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PRVA has been the topic of several research analyst reports. Zacks Research raised Privia Health Group from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 5th. Canaccord Genuity Group set a $32.00 price objective on Privia Health Group in a research report on Friday, August 7th. Citigroup reaffirmed a "buy" rating on shares of Privia Health Group in a research note on Thursday, July 23rd. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Privia Health Group in a research report on Tuesday, September 29th. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $31.00.

Privia Health Group Stock Performance

Shares of PRVA opened at $21.67 on Thursday. Privia Health Group, Inc. has a one year low of $18.92 and a one year high of $28.82. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 103.20 and a beta of 0.80. The stock has a 50 day moving average price of $20.74 and a 200 day moving average price of $22.75.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.12. The company had revenue of $632.63 million for 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%. The firm's revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 EPS. On average, analysts predict that Privia Health Group, Inc. will post 0.27 earnings per share for the current year.

Privia Health Group Company Profile

Privia Health Group, Inc is a physician-enablement company that supports independent medical practices through technology, administrative services and value-based care programs. The company partners with physicians and medical groups to help them manage clinical operations, improve patient outcomes and participate in alternative payment arrangements with health insurers and employers.

Its platform includes practice management and electronic health record tools, data analytics, population health management, care coordination, revenue cycle support, payer contracting and centralized administrative services.

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