Pier Capital LLC Acquires 45,168 Shares of Privia Health Group, Inc. $PRVA

by · The Markets Daily

Pier Capital LLC raised its holdings in shares of Privia Health Group, Inc. (NASDAQ:PRVA – Free Report) by 14.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 357,166 shares of the company’s stock after buying an additional 45,168 shares during the period. Privia Health Group comprises 1.4% of Pier Capital LLC’s portfolio, making the stock its 20th largest holding. Pier Capital LLC owned 0.29% of Privia Health Group worth $8,893,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PRVA. Royal Bank of Canada boosted its stake in shares of Privia Health Group by 63.5% during the 1st quarter. Royal Bank of Canada now owns 245,633 shares of the company’s stock worth $5,514,000 after acquiring an additional 95,371 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Privia Health Group by 24.7% in the 1st quarter. AQR Capital Management LLC now owns 40,781 shares of the company’s stock worth $916,000 after purchasing an additional 8,068 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Privia Health Group by 3.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 118,764 shares of the company’s stock worth $2,666,000 after purchasing an additional 3,714 shares in the last quarter. Intech Investment Management LLC raised its holdings in Privia Health Group by 55.1% in the 1st quarter. Intech Investment Management LLC now owns 56,553 shares of the company’s stock worth $1,270,000 after purchasing an additional 20,082 shares during the period. Finally, Acadian Asset Management LLC bought a new position in Privia Health Group in the 1st quarter worth $154,000. 94.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PRVA has been the subject of several recent research reports. Canaccord Genuity Group boosted their price target on Privia Health Group from $34.00 to $35.00 and gave the company a “buy” rating in a report on Friday, February 27th. Stephens reaffirmed an “overweight” rating and issued a $32.00 price objective on shares of Privia Health Group in a research note on Thursday, December 4th. Piper Sandler reaffirmed an “overweight” rating and set a $36.00 price objective on shares of Privia Health Group in a research report on Thursday, February 26th. Royal Bank Of Canada began coverage on Privia Health Group in a research note on Friday, January 9th. They set an “outperform” rating and a $31.00 price objective for the company. Finally, Citigroup reduced their target price on shares of Privia Health Group from $34.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.00.

View Our Latest Stock Report on Privia Health Group

Insiders Place Their Bets

In related news, CFO David Mountcastle sold 5,829 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $22.84, for a total value of $133,134.36. Following the transaction, the chief financial officer directly owned 161,903 shares of the company’s stock, valued at approximately $3,697,864.52. The trade was a 3.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matthew Shawn Morris sold 16,550 shares of the company’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 transaction, the director owned 68,188 shares of the company’s stock, valued at $1,704,700. The trade was a 19.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 142,281 shares of company stock worth $3,338,491 over the last quarter. Company insiders own 10.70% of the company’s stock.

Privia Health Group Stock Performance

Shares of PRVA stock opened at $21.73 on Friday. The stock has a fifty day simple moving average of $22.93 and a two-hundred day simple moving average of $23.58. The firm has a market capitalization of $2.69 billion, a PE ratio of 127.82, a PEG ratio of 1.39 and a beta of 0.82. Privia Health Group, Inc. has a 52-week low of $18.77 and a 52-week high of $26.51.

Privia Health Group (NASDAQ:PRVA – Get Free Report) 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 for the quarter, compared to the consensus estimate of $516.61 million. Privia Health Group had a return on equity of 3.06% and a net margin of 1.08%.The business’s revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.21 earnings per share. On average, sell-side analysts forecast that Privia Health Group, Inc. will post 0.14 EPS for the current fiscal year.

Privia Health Group Company Profile

(Free Report)

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.

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