Privia Health Group, Inc. $PRVA Shares Acquired by Squarepoint Ops LLC

Key Points

• Squarepoint Ops LLC increased its Privia Health Group stake by 313.2% in the second quarter, ending with 198,763 shares valued at approximately $5.1 million. Institutional investors and hedge funds 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 $31.00. Recent targets range from $24 to $32.
• Privia reported second-quarter EPS of $0.19, beating estimates of $0.07, while revenue rose 21.4% year over year to $632.63 million. However, insiders sold 327,886 shares worth $8.63 million over the past three months.

Squarepoint Ops LLC increased its holdings in shares of Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 313.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 198,763 shares of the company's stock after purchasing an additional 150,655 shares during the quarter. Squarepoint Ops LLC owned approximately 0.16% of Privia Health Group worth $5,114,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PRVA. Royal Bank of Canada raised its holdings in Privia Health Group by 63.5% during the first quarter. Royal Bank of Canada now owns 245,633 shares of the company's stock worth $5,514,000 after purchasing an additional 95,371 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Privia Health Group by 24.7% in the 1st quarter. AQR Capital Management LLC now owns 40,781 shares of the company's stock valued at $916,000 after buying an additional 8,068 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Privia Health Group by 3.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 118,764 shares of the company's stock valued at $2,666,000 after buying an additional 3,714 shares during the last quarter. Intech Investment Management LLC grew its position in shares of Privia Health Group by 55.1% in the 1st quarter. Intech Investment Management LLC now owns 56,553 shares of the company's stock valued at $1,270,000 after buying an additional 20,082 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Privia Health Group in the 1st quarter valued at $154,000. 94.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PRVA shares. Barclays reduced their price target on shares of Privia Health Group from $25.00 to $24.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 26th. Canaccord Genuity Group set a $32.00 price objective on Privia Health Group in a report on Friday, August 7th. Weiss Ratings upgraded Privia Health Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, July 2nd. Citigroup reissued a "buy" rating on shares of Privia Health Group in a report on Thursday, July 23rd. Finally, Zacks Research upgraded 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 has an average rating of "Moderate Buy" and an average price target of $31.00.

Insider Buying and Selling at Privia Health Group

In other Privia Health Group news, CFO David Mountcastle sold 24,734 shares of the company's stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $27.50, for a total transaction of $680,185.00. Following the completion of the transaction, the chief financial officer owned 186,728 shares in the company, valued at approximately $5,135,020. This represents a 11.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Morris sold 88,110 shares of the firm's stock in a transaction on Friday, June 26th. The stock was sold at an average price of $25.33, for a total transaction of $2,231,826.30. Following the completion of the sale, 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 327,886 shares of company stock worth $8,628,256 over the last three months. 5.70% of the stock is currently owned by corporate insiders.

Privia Health Group Trading Up 0.2%

Privia Health Group stock opened at $20.42 on Friday. The stock has a 50 day moving average of $23.36 and a two-hundred day moving average of $23.09. Privia Health Group, Inc. has a twelve month low of $19.53 and a twelve month high of $28.82. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of 97.24 and a beta of 0.87.

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 (EPS) for the quarter, beating 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 in the previous year, the company posted $0.24 earnings per share. The company's revenue for the quarter was up 21.4% compared to the same quarter last year. Equities analysts predict that Privia Health Group, Inc. will post 0.27 earnings per share for the current year.

Privia Health Group Profile

Privia Health Group, Inc is a national physician enablement company that supports independent medical groups in delivering value-based care. Through its technology-enabled platform, the company provides administrative, clinical, and operational services designed to help physicians manage patient populations, improve care coordination, and participate in contracts with health plans and employers.

Privia's services include practice management, electronic health record and data analytics tools, revenue-cycle support, marketing, recruiting, and other nonclinical business functions.

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