Renaissance Group LLC Invests $7.78 Million in Privia Health Group, Inc. $PRVA

Renaissance Group LLC acquired a new position in shares of Privia Health Group, Inc. (NASDAQ:PRVA) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 327,970 shares of the company’s stock, valued at approximately $7,776,000. Renaissance Group LLC owned 0.27% of Privia Health Group at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PRVA. Hantz Financial Services Inc. raised its holdings in shares of Privia Health Group by 456.2% during the fourth quarter. Hantz Financial Services Inc. now owns 1,129 shares of the company’s stock worth $27,000 after purchasing an additional 926 shares during the last quarter. Global Retirement Partners LLC raised its holdings in shares of Privia Health Group by 579.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,584 shares of the company’s stock worth $38,000 after purchasing an additional 1,351 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in Privia Health Group by 48.0% in the second 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 in the last quarter. GAMMA Investing LLC increased its holdings in Privia Health Group by 198.5% in the fourth quarter. GAMMA Investing LLC now owns 4,314 shares of the company’s stock valued at $102,000 after buying an additional 2,869 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Privia Health Group in the second quarter valued at $113,000. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Privia Health Group

In related news, CFO David Mountcastle sold 3,385 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $22.60, for a total transaction of $76,501.00. Following the completion of the sale, the chief financial officer owned 211,462 shares of the company’s stock, valued at approximately $4,779,041.20. This represents a 1.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Parth Mehrotra sold 15,647 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $22.64, for a total transaction of $354,248.08. Following the sale, the chief executive officer directly owned 434,357 shares of the company’s stock, valued at approximately $9,833,842.48. This represents a 3.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 223,229 shares of company stock valued at $5,041,569. Corporate insiders own 5.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Canaccord Genuity Group cut their price objective on shares of Privia Health Group from $35.00 to $34.00 and set a “buy” rating for the company in a report on Friday, May 8th. Weiss Ratings cut shares of Privia Health Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 8th. Piper Sandler reissued an “overweight” rating and set a $36.00 target price on shares of Privia Health Group in a research note on Thursday, February 26th. Jefferies Financial Group reissued a “buy” rating and set a $32.00 target price on shares of Privia Health Group in a research note on Thursday, February 26th. Finally, Citigroup cut 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 research note on Tuesday, March 3rd. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Privia Health Group has an average rating of “Moderate Buy” and an average price target of $31.15.

Privia Health Group Stock Up 3.3%

PRVA stock opened at $22.90 on Thursday. The stock has a market capitalization of $2.89 billion, a P/E ratio of 143.13, a P/E/G ratio of 1.60 and a beta of 0.90. The firm has a 50-day simple moving average of $22.76 and a 200-day simple moving average of $22.96. 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) last released its earnings results on Thursday, May 7th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.11. Privia Health Group had a net margin of 0.97% and a return on equity of 2.81%. The business had revenue of $603.85 million during the quarter, compared to analysts’ expectations of $560.99 million. During the same quarter in the previous year, the company earned $0.22 earnings per share. The company’s quarterly revenue was up 25.8% on a year-over-year basis. On average, analysts expect that Privia Health Group, Inc. will post 0.29 earnings per share for the current 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.