Privia Health Group, Inc. (NASDAQ:PRVA) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Privia Health Group, Inc. (NASDAQ:PRVA) have been given an average rating of “Moderate Buy” by the fifteen research firms that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $30.4167.

Several equities analysts have recently commented on PRVA shares. Barclays boosted their price objective on Privia Health Group from $22.00 to $23.00 and gave the company an “equal weight” rating in a research report on Monday, November 10th. Citizens Jmp boosted their price target on Privia Health Group from $30.00 to $31.00 and gave the stock a “market outperform” rating in a report on Friday, November 7th. Evercore ISI increased their price objective on shares of Privia Health Group from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Citigroup reiterated an “outperform” rating on shares of Privia Health Group in a research report on Friday, August 29th. Finally, JMP Securities boosted their target price on shares of Privia Health Group from $29.00 to $30.00 and gave the stock a “market outperform” rating in a report on Friday, August 29th.

Insider Transactions at Privia Health Group

In related news, CFO David Mountcastle sold 23,887 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 172,909 shares of the company’s stock, valued at approximately $4,327,912.27. This represents a 12.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matthew Shawn Morris sold 13,647 shares of Privia Health Group stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $25.01, for a total value of $341,311.47. Following the completion of the sale, the director directly owned 68,188 shares in the company, valued at approximately $1,705,381.88. The trade was a 16.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 10.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. grew its holdings in shares of Privia Health Group by 2,852.2% in the first quarter. Russell Investments Group Ltd. now owns 2,657 shares of the company’s stock valued at $60,000 after purchasing an additional 2,567 shares in the last quarter. CWM LLC lifted its position in Privia Health Group by 89.4% during the second quarter. CWM LLC now owns 3,416 shares of the company’s stock valued at $79,000 after purchasing an additional 1,612 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Privia Health Group by 48.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 3,700 shares of the company’s stock worth $85,000 after buying an additional 1,200 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Privia Health Group in the 2nd quarter worth $113,000. Finally, Covestor Ltd increased its holdings in shares of 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 buying an additional 1,657 shares during the last quarter. 94.48% of the stock is owned by hedge funds and other institutional investors.

Privia Health Group Price Performance

Shares of NASDAQ PRVA opened at $23.73 on Wednesday. The stock has a market cap of $2.92 billion, a PE ratio of 182.55, a price-to-earnings-growth ratio of 4.10 and a beta of 0.83. Privia Health Group has a 1 year low of $18.77 and a 1 year high of $26.51. The firm has a fifty day moving average price of $24.39 and a 200-day moving average price of $22.84.

Privia Health Group (NASDAQ:PRVA) last released its earnings results on Tuesday, June 7th. The company reported $0.10 earnings per share for the quarter. The company had revenue of $213.61 million for the quarter. Privia Health Group had a net margin of 0.89% and a return on equity of 2.52%. On average, research analysts expect that Privia Health Group will post 0.14 EPS for the current 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.