Privia Health Group, Inc. $PRVA Shares Sold by Riverbridge Partners LLC

Key Points

• Riverbridge Partners LLC reduced its stake in Privia Health Group by 10.3% during the 2nd quarter, now holding approximately 4.94 million shares valued at around $113.8 million.
• Several **institutional investors**, including Bessemer Group and GAMMA Investing, have significantly increased their holdings in Privia Health Group during the 1st quarter, reflecting strong institutional interest.
• Despite reporting lower earnings per share than expected this quarter, Privia Health Group saw a 23.4% increase in revenue year-over-year, totaling $521.15 million.

Riverbridge Partners LLC decreased its holdings in shares of Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 10.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,947,871 shares of the company's stock after selling 569,799 shares during the quarter. Privia Health Group comprises approximately 1.8% of Riverbridge Partners LLC's holdings, making the stock its 14th biggest holding. Riverbridge Partners LLC owned approximately 4.06% of Privia Health Group worth $113,801,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. lifted its holdings in shares of Privia Health Group by 2,393.4% during the 1st quarter. Bessemer Group Inc. now owns 2,269 shares of the company's stock valued at $51,000 after acquiring an additional 2,178 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Privia Health Group by 4.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 55,371 shares of the company's stock valued at $1,243,000 after acquiring an additional 2,413 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Privia Health Group by 113.1% during the 1st quarter. GAMMA Investing LLC now owns 2,866 shares of the company's stock valued at $64,000 after acquiring an additional 1,521 shares in the last quarter. Strs Ohio acquired a new position in Privia Health Group in the 1st quarter worth $849,000. Finally, Teacher Retirement System of Texas acquired a new position in Privia Health Group in the 1st quarter worth $387,000. Institutional investors and hedge funds own 94.48% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PRVA shares. Citigroup reiterated an "outperform" rating on shares of Privia Health Group in a report on Friday, August 29th. JPMorgan Chase & Co. boosted their price objective on shares of Privia Health Group from $29.00 to $32.00 and gave the stock an "overweight" rating in a report on Wednesday, May 28th. JMP Securities boosted their price objective on shares of Privia Health Group from $29.00 to $30.00 and gave the stock a "market outperform" rating in a report on Friday, August 29th. Zacks Research upgraded shares of Privia Health Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 19th. Finally, Evercore ISI cut their price objective on shares of Privia Health Group from $30.00 to $28.00 and set an "outperform" rating on the stock in a report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $28.58.

Privia Health Group Stock Performance

Shares of Privia Health Group stock opened at $23.34 on Thursday. The firm has a market cap of $2.86 billion, a PE ratio of 212.20, a price-to-earnings-growth ratio of 3.40 and a beta of 0.82. The firm's 50-day simple moving average is $21.39 and its 200-day simple moving average is $22.40. Privia Health Group, Inc. has a 1 year low of $16.47 and a 1 year high of $26.09.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.03). The company had revenue of $521.15 million during the quarter, compared to analyst estimates of $466.97 million. Privia Health Group had a net margin of 0.78% and a return on equity of 2.13%. The business's revenue for the quarter was up 23.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.19 EPS. Privia Health Group has set its FY 2025 guidance at EPS. On average, equities analysts predict that Privia Health Group, Inc. will post 0.14 earnings per share for the current year.

Privia Health Group Profile

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.

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