Federated Hermes Inc. Decreases Stake in Privia Health Group, Inc. (NASDAQ:PRVA)

Federated Hermes Inc. reduced its stake in shares of Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 91.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,403 shares of the company's stock after selling 341,515 shares during the quarter. Federated Hermes Inc.'s holdings in Privia Health Group were worth $700,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Advisors Preferred LLC purchased a new position in Privia Health Group during the fourth quarter valued at $2,137,000. Loomis Sayles & Co. L P lifted its position in Privia Health Group by 1.2% during the 3rd quarter. Loomis Sayles & Co. L P now owns 623,870 shares of the company's stock valued at $14,349,000 after acquiring an additional 7,577 shares during the period. Walleye Capital LLC purchased a new position in Privia Health Group during the 3rd quarter valued at about $1,394,000. Riverbridge Partners LLC boosted its stake in Privia Health Group by 8.7% during the fourth quarter. Riverbridge Partners LLC now owns 4,342,385 shares of the company's stock worth $100,005,000 after acquiring an additional 348,852 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Privia Health Group by 0.5% during the third quarter. Vanguard Group Inc. now owns 11,003,989 shares of the company's stock valued at $253,092,000 after purchasing an additional 51,317 shares in the last quarter. 94.48% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO David Mountcastle sold 2,320 shares of the firm's stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $18.42, for a total transaction of $42,734.40. Following the sale, the chief financial officer now owns 259,959 shares in the company, valued at $4,788,444.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CFO David Mountcastle sold 2,320 shares of the firm's stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $18.42, for a total transaction of $42,734.40. Following the sale, the chief financial officer now directly owns 259,959 shares in the company, valued at approximately $4,788,444.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas Bartrum sold 2,252 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $18.42, for a total value of $41,481.84. Following the transaction, the executive vice president now owns 103,862 shares in the company, valued at approximately $1,913,138.04. The disclosure for this sale can be found here. Insiders sold a total of 31,783 shares of company stock valued at $582,886 in the last three months. 14.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PRVA shares. Barclays started coverage on shares of Privia Health Group in a report on Wednesday, March 6th. They issued an "equal weight" rating and a $22.00 price target on the stock. Stifel Nicolaus dropped their target price on Privia Health Group from $28.00 to $24.00 and set a "buy" rating on the stock in a research note on Wednesday. Bank of America cut Privia Health Group from a "buy" rating to a "neutral" rating and decreased their price target for the company from $27.00 to $21.00 in a research note on Thursday, February 22nd. Citigroup began coverage on shares of Privia Health Group in a report on Monday, April 22nd. They set a "buy" rating and a $25.00 price objective on the stock. Finally, JPMorgan Chase & Co. lowered their target price on shares of Privia Health Group from $38.00 to $30.00 and set an "overweight" rating for the company in a research note on Wednesday, March 6th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, Privia Health Group presently has a consensus rating of "Moderate Buy" and an average target price of $27.62.

Privia Health Group Stock Performance

NASDAQ PRVA traded up $0.33 on Friday, reaching $18.74. 936,654 shares of the company's stock traded hands, compared to its average volume of 940,366. The stock has a 50 day moving average price of $19.64 and a 200-day moving average price of $21.14. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 97.32, a P/E/G ratio of 2.46 and a beta of 0.81. Privia Health Group, Inc. has a fifty-two week low of $17.54 and a fifty-two week high of $30.15.

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

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.