Royce & Associates LP Buys 214,166 Shares of Privia Health Group, Inc. $PRVA

Royce & Associates LP boosted its stake in Privia Health Group, Inc. (NASDAQ:PRVA) by 54.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 607,191 shares of the company’s stock after purchasing an additional 214,166 shares during the period. Royce & Associates LP owned about 0.49% of Privia Health Group worth $15,119,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PRVA. CWM LLC grew its holdings in shares of Privia Health Group by 89.4% in the second quarter. CWM LLC now owns 3,416 shares of the company’s stock worth $79,000 after purchasing an additional 1,612 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in Privia Health Group by 48.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 3,700 shares of the company’s stock valued at $85,000 after buying an additional 1,200 shares during the period. Raymond James Financial Inc. purchased a new stake in Privia Health Group during the 2nd quarter valued at $113,000. Covestor Ltd grew its holdings in Privia Health Group by 39.8% in the 3rd quarter. Covestor Ltd now owns 5,824 shares of the company’s stock worth $145,000 after acquiring an additional 1,657 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Privia Health Group in the first quarter valued at about $154,000. Institutional investors own 94.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PRVA. Weiss Ratings reiterated a “hold (c)” rating on shares of Privia Health Group in a report on Monday, December 29th. BMO Capital Markets initiated coverage on Privia Health Group in a research report on Thursday, November 13th. They set an “outperform” rating and a $30.00 price target for the company. Stephens reiterated an “overweight” rating and issued a $32.00 price objective on shares of Privia Health Group in a report on Thursday, December 4th. Citigroup reissued a “market outperform” rating on shares of Privia Health Group in a research note on Tuesday, January 6th. Finally, Evercore upped their target price on Privia Health Group from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Privia Health Group presently has an average rating of “Moderate Buy” and a consensus price target of $30.93.

Privia Health Group News Summary

Here are the key news stories impacting Privia Health Group this week:

• Positive Sentiment: Truist raised its price target on PRVA from $31 to $33 and reiterated a “buy” rating — the new target implies roughly ~37% upside from the current price, which can attract buyers and support the rally. Article Title
• Positive Sentiment: Privia announced it will acquire Evolent’s ACO business to expand its value?based care scale — a strategic deal that could boost managed-care revenue, accelerate margin improvement in value-based contracts, and justify higher multiples if integration succeeds. Privia Health Expands Value Based Care Scale With Evolent ACO Acquisition
• Negative Sentiment: Director Matthew Shawn Morris sold a combined ~24,338 shares across Feb. 26–27 for about $608k; he still holds 68,188 shares. Significant director sales can create short?term selling pressure or raise governance/sentiment questions for some investors. SEC filing: SEC Form 4
• Negative Sentiment: CFO David Mountcastle sold a combined ~13,058 shares across Feb. 26–27 for roughly $327k; he continues to own 172,909 shares. Insider sales by senior finance executives are often watched closely and can temper enthusiasm from positive catalysts. SEC filing: SEC Form 4

Insider Transactions at Privia Health Group

In related news, CFO David Mountcastle sold 23,887 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $25.03, for a total transaction of $597,891.61. Following 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Matthew Shawn Morris sold 16,550 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $25.00, for a total value of $413,750.00. Following the completion of the sale, the director directly owned 68,188 shares in the company, valued at approximately $1,704,700. This represents a 19.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 74,930 shares of company stock valued at $1,874,410. 10.70% of the stock is currently owned by corporate insiders.

Privia Health Group Stock Up 1.2%

Shares of PRVA stock opened at $24.04 on Tuesday. The business’s fifty day moving average is $23.07 and its 200 day moving average is $23.52. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 141.41, a PEG ratio of 1.59 and a beta of 0.83. 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 announced its quarterly earnings data on Thursday, February 26th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.04 by $0.21. The business had revenue of $541.17 million during the quarter, compared to analyst estimates of $516.61 million. Privia Health Group had a return on equity of 3.06% and a net margin of 1.08%.The company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.21 earnings per share. Equities research analysts expect that Privia Health Group, Inc. will post 0.14 earnings per share for the current fiscal year.

Privia Health Group Company Profile

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.