Citigroup Begins Coverage on Privia Health Group (NASDAQ:PRVA)

Citigroup assumed coverage on shares of Privia Health Group (NASDAQ:PRVA) in a research report released on Monday morning, MarketBeat reports. The brokerage issued a buy rating and a $25.00 price target on the stock.

Several other equities analysts have also issued reports on PRVA. Jefferies Financial Group initiated coverage on shares of Privia Health Group in a report on Monday, February 26th. They issued a buy rating and a $25.00 price target for the company. Truist Financial reduced their price target on shares of Privia Health Group from $32.00 to $28.00 and set a buy rating on the stock in a research report on Thursday, February 29th. Barclays assumed coverage on shares of Privia Health Group in a research note on Wednesday, March 6th. They set an equal weight rating and a $22.00 price target for the company. Evercore ISI lowered 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 note on Wednesday, February 28th. Finally, UBS Group reduced their price objective on shares of Privia Health Group from $31.00 to $29.00 and set a buy rating for the company in a research report on Friday, March 1st. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $27.92.

Privia Health Group Trading Down 3.4 %

NASDAQ PRVA opened at $18.17 on Monday. The stock’s 50 day moving average is $19.93 and its two-hundred day moving average is $21.30. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 95.64, a PEG ratio of 2.47 and a beta of 0.81. Privia Health Group has a 1-year low of $17.54 and a 1-year high of $30.15.

Privia Health Group (NASDAQ:PRVA) last released its quarterly earnings data 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). Privia Health Group had a net margin of 1.39% and a return on equity of 3.97%. The company had revenue of $440.80 million for the quarter, compared to analyst estimates of $425.81 million. During the same period in the previous year, the firm posted $0.14 earnings per share. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. On average, analysts predict that Privia Health Group will post 0.26 earnings per share for the current year.

Insiders Place Their Bets

In other Privia Health Group news, CFO David Mountcastle sold 3,933 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $17.77, for a total value of $69,889.41. Following the sale, the chief financial officer now owns 262,279 shares of the company’s stock, valued at approximately $4,660,697.83. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 14.20% of the company’s stock.

Institutional Investors Weigh In On Privia Health Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Park Place Capital Corp lifted its position in shares of Privia Health Group by 115.4% in the 1st quarter. Park Place Capital Corp now owns 2,492 shares of the company’s stock worth $49,000 after purchasing an additional 1,335 shares during the period. Benjamin Edwards Inc. increased its stake in Privia Health Group by 44.9% during the 4th quarter. Benjamin Edwards Inc. now owns 3,239 shares of the company’s stock valued at $75,000 after purchasing an additional 1,003 shares in the last quarter. Covestor Ltd grew its stake in shares of Privia Health Group by 8.3% in the third quarter. Covestor Ltd now owns 6,703 shares of the company’s stock worth $154,000 after acquiring an additional 514 shares during the period. Benjamin F. Edwards & Company Inc. bought a new stake in Privia Health Group during the fourth quarter valued at approximately $158,000. Finally, International Assets Investment Management LLC grew its position in Privia Health Group by 2,721.7% during the fourth quarter. International Assets Investment Management LLC now owns 7,139 shares of the company’s stock valued at $164,000 after buying an additional 6,886 shares during the period. 94.48% of the stock is owned by hedge funds and other institutional investors.

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.