Kornitzer Capital Management Inc. KS Sells 93,490 Shares of Privia Health Group, Inc. $PRVA

Kornitzer Capital Management Inc. KS lowered its stake in shares of Privia Health Group, Inc. (NASDAQ:PRVA) by 42.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 124,535 shares of the company’s stock after selling 93,490 shares during the quarter. Kornitzer Capital Management Inc. KS owned approximately 0.10% of Privia Health Group worth $3,101,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PRVA. Advantage Alpha Capital Partners LP bought a new stake in shares of Privia Health Group in the 2nd quarter worth approximately $3,941,000. Hsbc Holdings PLC raised its stake in shares of Privia Health Group by 69.2% in the second quarter. Hsbc Holdings PLC now owns 113,718 shares of the company’s stock valued at $2,549,000 after buying an additional 46,526 shares during the period. Edgestream Partners L.P. purchased a new position in shares of Privia Health Group during the 2nd quarter valued at $2,209,000. State of Alaska Department of Revenue grew its stake in shares of Privia Health Group by 9.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 62,406 shares of the company’s stock worth $1,435,000 after acquiring an additional 5,223 shares during the period. Finally, Yousif Capital Management LLC increased its holdings in Privia Health Group by 2.5% in the 2nd quarter. Yousif Capital Management LLC now owns 39,687 shares of the company’s stock worth $913,000 after acquiring an additional 955 shares during the last quarter. Institutional investors own 94.48% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on PRVA. Citigroup reiterated a “market outperform” rating on shares of Privia Health Group in a research report on Tuesday, January 6th. Stephens reiterated an “overweight” rating and issued a $32.00 price objective on shares of Privia Health Group in a research note on Thursday, December 4th. Canaccord Genuity Group increased their target price on Privia Health Group from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. BMO Capital Markets initiated coverage on Privia Health Group in a research report on Thursday, November 13th. They issued an “outperform” rating and a $30.00 price target for the company. Finally, Royal Bank Of Canada initiated coverage on Privia Health Group in a research note on Friday, January 9th. They set an “outperform” rating and a $31.00 price objective on the stock. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Privia Health Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.50.

Insider Buying and Selling at Privia Health Group

In other Privia Health Group news, CFO David Mountcastle sold 23,887 shares of Privia Health Group stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $25.03, for a total transaction of $597,891.61. Following the completion of the sale, the chief financial officer owned 172,909 shares of the company’s stock, valued at $4,327,912.27. The trade was a 12.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Matthew Shawn Morris sold 13,647 shares of the stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $25.01, for a total value of $341,311.47. Following the transaction, the director owned 68,188 shares in the company, valued at $1,705,381.88. This trade represents a 16.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 10.70% of the company’s stock.

Privia Health Group Stock Down 5.1%

NASDAQ:PRVA opened at $22.86 on Wednesday. The stock has a market cap of $2.81 billion, a P/E ratio of 175.86, a PEG ratio of 1.69 and a beta of 0.83. The business’s 50-day moving average price is $23.83 and its two-hundred day moving average price is $23.12. Privia Health Group, Inc. has a twelve month low of $18.77 and a twelve month high of $26.51.

Privia Health Group (NASDAQ:PRVA) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.23. Privia Health Group had a net margin of 0.89% and a return on equity of 2.52%. The company had revenue of $580.42 million for the quarter, compared to analysts’ expectations of $494.98 million. During the same period in the prior year, the business earned $0.20 earnings per share. Privia Health Group’s revenue for the quarter was up 32.5% compared to the same quarter last year. On average, equities research analysts expect that Privia Health Group, Inc. will post 0.14 EPS for the current fiscal year.

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.