Wellington Management Group LLP Has $54.81 Million Stock Holdings in Privia Health Group, Inc. $PRVA

Key Points

• Wellington Management increased its Privia Health stake by 850.6% in the second quarter, acquiring 1.91 million additional shares and bringing its holdings to $54.81 million. Institutional investors collectively own 94.48% of the company.
• Privia Health reported quarterly EPS of $0.19 versus the $0.07 analyst consensus, while revenue reached $632.63 million, up 21.4% year over year and above estimates.
• PRVA shares opened at $20.67, near their 12-month low, despite a consensus “Moderate Buy” rating and an average analyst price target of $31.00. Meanwhile, insiders sold $8.63 million of stock over the past three months under pre-arranged trading plans.

Wellington Management Group LLP boosted its position in Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 850.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,130,289 shares of the company's stock after acquiring an additional 1,906,187 shares during the period. Wellington Management Group LLP owned 1.67% of Privia Health Group worth $54,812,000 at the end of the most recent quarter.

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

Privia Health Group Trading Down 0.2%

Shares of PRVA opened at $20.67 on Friday. Privia Health Group, Inc. has a 12 month low of $19.53 and a 12 month high of $28.82. The firm has a fifty day simple moving average of $24.06 and a 200 day simple moving average of $23.16. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 98.43, a PEG ratio of 1.63 and a beta of 0.87.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.07 by $0.12. The company had revenue of $632.63 million during the quarter, compared to the consensus estimate of $597.33 million. Privia Health Group had a net margin of 1.19% and a return on equity of 3.52%. The company's quarterly revenue was up 21.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 EPS. As a group, research analysts predict that Privia Health Group, Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Activity at Privia Health Group

In other Privia Health Group news, Director Matthew Morris sold 88,110 shares of the firm's stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $25.33, for a total value of $2,231,826.30. Following the completion of the transaction, the director directly owned 76,651 shares in the company, valued at $1,941,569.83. This trade represents a 53.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Mountcastle sold 24,734 shares of the firm's stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $27.50, for a total value of $680,185.00. Following the completion of the transaction, the chief financial officer owned 186,728 shares of the company's stock, valued at approximately $5,135,020. This represents a 11.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 327,886 shares of company stock valued at $8,628,256 over the last three months. Insiders own 5.70% of the company's stock.

Analyst Ratings Changes

PRVA has been the subject of a number of analyst reports. Weiss Ratings raised Privia Health Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, July 2nd. Canaccord Genuity Group set a $32.00 target price on Privia Health Group in a research report on Friday, August 7th. Citigroup reiterated a "buy" rating on shares of Privia Health Group in a research report on Thursday, July 23rd. Zacks Research upgraded shares of Privia Health Group from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 5th. Finally, Barclays cut their target price on shares of Privia Health Group from $25.00 to $24.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 26th. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $31.00.

About Privia Health Group

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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