Privia Health Group, Inc. $PRVA Shares Sold by Tudor Investment Corp ET AL

Key Points

• Tudor Investment Corp cut its Privia Health stake by 95.1% in Q3, selling 445,865 shares and leaving 22,986 shares worth $572,000, while institutional investors now own about 94.48% of the stock.
• Insiders sold heavily—company executives (including the CFO and an EVP) sold shares recently, with insiders offloading 242,191 shares valued at $5.52 million in the last quarter, reducing insider ownership to 10.70%.
• Analyst sentiment is positive (consensus "Moderate Buy," average target $31.13) after Privia beat quarterly estimates—EPS $0.25 vs. $0.04 expected and revenue $541.17M (up 17.4% year-over-year).

Tudor Investment Corp ET AL lowered its holdings in Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 95.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,986 shares of the company's stock after selling 445,865 shares during the period. Tudor Investment Corp ET AL's holdings in Privia Health Group were worth $572,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PRVA. Great Lakes Advisors LLC acquired a new position in shares of Privia Health Group during the third quarter worth approximately $4,487,000. Hsbc Holdings PLC increased its position in Privia Health Group by 69.2% in the 2nd quarter. Hsbc Holdings PLC now owns 113,718 shares of the company's stock valued at $2,549,000 after acquiring an additional 46,526 shares during the period. ArrowMark Colorado Holdings LLC acquired a new stake in Privia Health Group in the 3rd quarter valued at approximately $8,750,000. Edgestream Partners L.P. bought a new stake in Privia Health Group during the 2nd quarter valued at $2,209,000. Finally, Public Sector Pension Investment Board boosted its position in Privia Health Group by 25.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 450,010 shares of the company's stock worth $11,205,000 after acquiring an additional 92,507 shares during the period. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Privia Health Group

In related news, CFO David Mountcastle sold 6,391 shares of Privia Health Group stock in a transaction on Monday, March 16th. The stock was sold at an average price of $22.11, for a total transaction of $141,305.01. Following the completion of the sale, the chief financial officer owned 220,413 shares of the company's stock, valued at approximately $4,873,331.43. This trade represents a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Edward C. Fargis sold 4,949 shares of the business's stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $22.84, for a total value of $113,035.16. Following the completion of the transaction, the executive vice president owned 83,711 shares in the company, valued at $1,911,959.24. This trade represents a 5.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 242,191 shares of company stock valued at $5,520,587 in the last quarter. Company insiders own 10.70% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PRVA. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Privia Health Group in a research note on Friday. Royal Bank Of Canada assumed coverage on Privia Health Group in a report on Friday, January 9th. They set an "outperform" rating and a $31.00 target price on the stock. Citigroup cut their target price on Privia Health Group from $34.00 to $32.00 and set a "buy" rating for the company in a research report on Tuesday, March 3rd. Canaccord Genuity Group increased their price target on Privia Health Group from $34.00 to $35.00 and gave the company a "buy" rating in a research note on Friday, February 27th. Finally, Truist Financial boosted their price objective on Privia Health Group from $31.00 to $33.00 and gave the stock a "buy" rating in a research note on Monday, March 2nd. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $31.13.

Privia Health Group Price Performance

Shares of PRVA opened at $20.57 on Wednesday. The business's 50-day moving average is $22.30 and its 200-day moving average is $23.45. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 121.00, a P/E/G ratio of 1.25 and a beta of 0.82. Privia Health Group, Inc. has a fifty-two week low of $18.77 and a fifty-two week high of $26.51.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.04 by $0.21. The business had revenue of $541.17 million during the quarter, compared to analysts' expectations of $516.61 million. Privia Health Group had a net margin of 1.08% and a return on equity of 3.06%. The firm's quarterly revenue was up 17.4% compared to the same quarter last year. During the same period last year, the company posted $0.21 earnings per share. Equities research analysts expect that Privia Health Group, Inc. will post 0.14 earnings per share for the current fiscal year.

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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