Wellington Management Group LLP Sells 27,921 Shares of Privia Health Group, Inc. $PRVA

Key Points

• Wellington Management Group LLP has reduced its holdings in Privia Health Group, Inc. by 1.5%, now owning approximately 1.54% of the company, valued at $41.92 million.
• Institutional investors now own 94.48% of Privia Health Group, highlighting significant institutional interest.
• Privia Health Group reported a 23.4% increase in quarterly revenue, but earnings per share fell short of analyst expectations, resulting in an EPS of $0.02.

Wellington Management Group LLP reduced its holdings in Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 1.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,867,244 shares of the company's stock after selling 27,921 shares during the period. Wellington Management Group LLP owned approximately 1.54% of Privia Health Group worth $41,920,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. CWM LLC lifted its holdings in Privia Health Group by 50.3% in the first quarter. CWM LLC now owns 1,804 shares of the company's stock valued at $40,000 after buying an additional 604 shares during the period. Bessemer Group Inc. lifted its holdings in Privia Health Group by 2,393.4% in the first quarter. Bessemer Group Inc. now owns 2,269 shares of the company's stock valued at $51,000 after buying an additional 2,178 shares during the period. Russell Investments Group Ltd. lifted its holdings in Privia Health Group by 2,852.2% in the first quarter. Russell Investments Group Ltd. now owns 2,657 shares of the company's stock valued at $60,000 after buying an additional 2,567 shares during the period. GAMMA Investing LLC raised its holdings in Privia Health Group by 113.1% in the first quarter. GAMMA Investing LLC now owns 2,866 shares of the company's stock worth $64,000 after purchasing an additional 1,521 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Privia Health Group by 2,115.3% in the first quarter. Caitong International Asset Management Co. Ltd now owns 3,323 shares of the company's stock worth $75,000 after purchasing an additional 3,173 shares during the period. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PRVA. Evercore ISI cut their target price 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. JMP Securities raised 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. Barclays raised their price objective on shares of Privia Health Group from $23.00 to $24.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 27th. JPMorgan Chase & Co. raised 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. Finally, Citigroup restated an "outperform" rating on shares of Privia Health Group in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $28.08.

Privia Health Group Stock Performance

Privia Health Group stock traded up $1.23 during mid-day trading on Friday, reaching $23.04. The company's stock had a trading volume of 1,240,437 shares, compared to its average volume of 984,088. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 209.47, a price-to-earnings-growth ratio of 3.16 and a beta of 0.80. Privia Health Group, Inc. has a 12 month low of $16.47 and a 12 month high of $26.09. The business's 50 day simple moving average is $20.91 and its 200 day simple moving average is $22.66.

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

About Privia Health Group

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.