Royce & Associates LP Makes New Investment in Privia Health Group, Inc. (NASDAQ:PRVA)

Key Points

• Royce & Associates LP has acquired a new position in Privia Health Group, Inc., purchasing 303,675 shares valued at approximately $6.82 million.
• Other hedge funds have significantly increased their stakes in Privia Health, with CWM LLC increasing by 50.3% and Bessemer Group Inc. seeing a massive 2,393.4% increase in their holdings during the first quarter.
• Several analysts have recently adjusted their ratings on Privia Health Group, with a consensus rating of "Buy" and an average price target of $28.38 for the stock.

Royce & Associates LP bought a new position in shares of Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 303,675 shares of the company's stock, valued at approximately $6,818,000. Royce & Associates LP owned 0.25% of Privia Health Group at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Durable Capital Partners LP increased its stake in shares of Privia Health Group by 3.4% during the fourth quarter. Durable Capital Partners LP now owns 11,487,843 shares of the company's stock worth $224,587,000 after purchasing an additional 378,255 shares during the period. Nuveen Asset Management LLC increased its stake in shares of Privia Health Group by 19.8% during the fourth quarter. Nuveen Asset Management LLC now owns 1,488,979 shares of the company's stock worth $29,110,000 after purchasing an additional 246,393 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Privia Health Group by 10.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,416,235 shares of the company's stock worth $27,687,000 after purchasing an additional 138,747 shares during the period. Northern Trust Corp increased its stake in shares of Privia Health Group by 14.2% during the fourth quarter. Northern Trust Corp now owns 1,392,641 shares of the company's stock worth $27,226,000 after purchasing an additional 173,563 shares during the period. Finally, Franklin Resources Inc. grew its position in Privia Health Group by 0.8% during the fourth quarter. Franklin Resources Inc. now owns 1,311,166 shares of the company's stock worth $25,633,000 after buying an additional 10,926 shares in the last quarter. Institutional investors own 94.48% of the company's stock.

Insiders Place Their Bets

In other Privia Health Group news, CEO Parth Mehrotra sold 13,773 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $24.99, for a total value of $344,187.27. Following the completion of the transaction, the chief executive officer owned 423,143 shares of the company's stock, valued at $10,574,343.57. This represents a 3.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO David Mountcastle sold 3,322 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $24.99, for a total value of $83,016.78. Following the completion of the transaction, the chief financial officer directly owned 172,909 shares of the company's stock, valued at approximately $4,320,995.91. The trade was a 1.89% decrease in their position. The disclosure for this sale can be found here. Insiders own 10.70% of the company's stock.

Privia Health Group Stock Up 0.8%

Shares of PRVA stock traded up $0.16 during trading hours on Wednesday, reaching $19.64. The company's stock had a trading volume of 70,844 shares, compared to its average volume of 811,475. The firm's 50 day simple moving average is $21.86 and its 200-day simple moving average is $22.95. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 163.64, a PEG ratio of 3.15 and a beta of 0.82. Privia Health Group, Inc. has a fifty-two week low of $16.47 and a fifty-two week high of $26.09.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PRVA shares. Truist Financial increased their price target on Privia Health Group from $27.00 to $28.00 and gave the stock a "buy" rating in a research report on Thursday, April 10th. Robert W. Baird increased their price target on Privia Health Group from $24.00 to $26.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 15th. JMP Securities reissued a "market outperform" rating and set a $29.00 price target on shares of Privia Health Group in a research report on Monday, April 28th. Barclays increased their price target on Privia Health Group from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 27th. Finally, Needham & Company LLC reissued a "buy" rating and set a $30.00 price target on shares of Privia Health Group in a research report on Thursday, April 10th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $28.38.

Privia Health Group Company 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.