Covestor Ltd Raises Position in Privia Health Group, Inc. (NASDAQ:PRVA)

Covestor Ltd grew its holdings in shares of Privia Health Group, Inc. (NASDAQ:PRVA) by 25.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,292 shares of the company’s stock after purchasing an additional 1,076 shares during the period. Covestor Ltd’s holdings in Privia Health Group were worth $104,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Yousif Capital Management LLC lifted its holdings in shares of Privia Health Group by 1.1% during the 4th quarter. Yousif Capital Management LLC now owns 52,628 shares of the company’s stock valued at $1,212,000 after purchasing an additional 563 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Privia Health Group by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,970 shares of the company’s stock worth $176,000 after acquiring an additional 756 shares during the last quarter. Benjamin Edwards Inc. raised its stake in Privia Health Group by 44.9% in the 4th quarter. Benjamin Edwards Inc. now owns 3,239 shares of the company’s stock worth $75,000 after acquiring an additional 1,003 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in Privia Health Group by 1.7% in the 1st quarter. Illinois Municipal Retirement Fund now owns 60,841 shares of the company’s stock worth $1,192,000 after acquiring an additional 1,013 shares during the last quarter. Finally, Texas Permanent School Fund Corp raised its stake in Privia Health Group by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 89,896 shares of the company’s stock worth $1,761,000 after acquiring an additional 1,176 shares during the last quarter. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Privia Health Group Stock Up 1.6 %

Shares of NASDAQ:PRVA traded up $0.31 during trading on Tuesday, reaching $19.92. 203,671 shares of the company’s stock traded hands, compared to its average volume of 926,078. Privia Health Group, Inc. has a fifty-two week low of $15.92 and a fifty-two week high of $28.10. The firm has a market cap of $2.38 billion, a PE ratio of 132.80, a P/E/G ratio of 3.00 and a beta of 0.78. The company has a 50-day simple moving average of $17.34 and a 200-day simple moving average of $19.15.

Privia Health Group (NASDAQ:PRVA) last posted its earnings results on Thursday, May 9th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). Privia Health Group had a net margin of 1.11% and a return on equity of 3.13%. The business had revenue of $415.24 million for the quarter, compared to analyst estimates of $435.07 million. On average, equities research analysts forecast that Privia Health Group, Inc. will post 0.2 EPS for the current year.

Insider Activity

In other Privia Health Group news, Director Adam Boehler bought 5,306 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were purchased at an average cost of $16.50 per share, for a total transaction of $87,549.00. Following the transaction, the director now directly owns 5,773,158 shares of the company’s stock, valued at $95,257,107. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Adam Boehler acquired 5,306 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were bought at an average cost of $16.50 per share, for a total transaction of $87,549.00. Following the acquisition, the director now owns 5,773,158 shares in the company, valued at approximately $95,257,107. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas A. Mccarthy acquired 10,000 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average price of $16.37 per share, for a total transaction of $163,700.00. Following the completion of the acquisition, the director now owns 52,611 shares in the company, valued at approximately $861,242.07. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 293,235 shares of company stock worth $4,745,481 and have sold 45,457 shares worth $827,810. Insiders own 14.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PRVA shares. Citigroup started coverage on Privia Health Group in a research note on Monday, April 22nd. They issued a “buy” rating and a $25.00 target price for the company. Baird R W upgraded Privia Health Group to a “strong-buy” rating in a research note on Thursday, May 30th. Evercore ISI reduced their target price on Privia Health Group from $23.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, July 9th. Barclays reduced their target price on Privia Health Group from $22.00 to $19.00 and set an “equal weight” rating for the company in a research note on Monday, May 20th. Finally, Robert W. Baird initiated coverage on Privia Health Group in a research note on Thursday, May 30th. They issued an “outperform” rating and a $23.00 target price for the company. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Privia Health Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.54.

Privia Health Group 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.