Kornitzer Capital Management Inc. KS Reduces Stock Holdings in Privia Health Group, Inc. (NASDAQ:PRVA)

Kornitzer Capital Management Inc. KS decreased its position in Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 41.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,025 shares of the company's stock after selling 152,460 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 0.18% of Privia Health Group worth $5,021,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Advisors Preferred LLC bought a new position in Privia Health Group in the 4th quarter valued at approximately $2,137,000. Loomis Sayles & Co. L P raised its position in Privia Health Group by 1.2% in the 3rd quarter. Loomis Sayles & Co. L P now owns 623,870 shares of the company's stock worth $14,349,000 after buying an additional 7,577 shares during the last quarter. Walleye Capital LLC purchased a new position in Privia Health Group in the 3rd quarter worth about $1,394,000. Riverbridge Partners LLC raised its position in Privia Health Group by 8.7% in the 4th quarter. Riverbridge Partners LLC now owns 4,342,385 shares of the company's stock worth $100,005,000 after buying an additional 348,852 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Privia Health Group by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 11,003,989 shares of the company's stock worth $253,092,000 after buying an additional 51,317 shares during the last quarter. Institutional investors own 94.48% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Truist Financial decreased their target price on Privia Health Group from $32.00 to $28.00 and set a "buy" rating for the company in a research report on Thursday, February 29th. Evercore ISI cut their target price on shares of Privia Health Group from $26.00 to $25.00 and set an "outperform" rating for the company in a research report on Wednesday, February 28th. Jefferies Financial Group initiated coverage on shares of Privia Health Group in a research report on Monday, February 26th. They issued a "buy" rating and a $25.00 target price for the company. JPMorgan Chase & Co. dropped their target price on Privia Health Group from $38.00 to $30.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 6th. Finally, Barclays initiated coverage on Privia Health Group in a research report on Wednesday, March 6th. They issued an "equal weight" rating and a $22.00 target price on the stock. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $28.18.

Privia Health Group Stock Up 1.5 %

PRVA traded up $0.26 during midday trading on Friday, reaching $18.08. The company had a trading volume of 990,334 shares, compared to its average volume of 790,165. The business has a 50-day moving average of $20.10 and a two-hundred day moving average of $21.39. The company has a market cap of $2.15 billion, a P/E ratio of 95.16, a P/E/G ratio of 2.47 and a beta of 0.81. Privia Health Group, Inc. has a 1 year low of $17.54 and a 1 year high of $30.15.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.02). The firm had revenue of $440.80 million during the quarter, compared to the consensus estimate of $425.81 million. Privia Health Group had a return on equity of 3.97% and a net margin of 1.39%. The business's revenue for the quarter was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.14 earnings per share. On average, equities research analysts predict that Privia Health Group, Inc. will post 0.26 EPS for the current year.

Insiders Place Their Bets

In other news, CFO David Mountcastle sold 3,933 shares of the business's stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $17.77, for a total value of $69,889.41. Following the transaction, the chief financial officer now directly owns 262,279 shares in the company, valued at $4,660,697.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director William M. Sullivan sold 9,951 shares of Privia Health Group stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $23.03, for a total transaction of $229,171.53. Following the sale, the director now owns 5,464,533 shares in the company, valued at $125,848,194.99. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO David Mountcastle sold 3,933 shares of Privia Health Group stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $17.77, for a total transaction of $69,889.41. Following the sale, the chief financial officer now owns 262,279 shares in the company, valued at approximately $4,660,697.83. The disclosure for this sale can be found here. Company insiders own 14.20% of the company's stock.

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.