Freestone Grove Partners LP Invests $17.64 Million in Privia Health Group, Inc. $PRVA

Freestone Grove Partners LP purchased a new position in shares of Privia Health Group, Inc. (NASDAQ:PRVA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 685,489 shares of the company’s stock, valued at approximately $17,638,000. Freestone Grove Partners LP owned about 0.54% of Privia Health Group as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Caisse de depot et placement du Quebec acquired a new stake in Privia Health Group during the 2nd quarter worth approximately $8,399,000. Man Group plc purchased a new position in shares of Privia Health Group in the 2nd quarter valued at approximately $5,419,000. Jupiter Topco LLC acquired a new position in shares of Privia Health Group in the second quarter valued at approximately $1,134,000. Hsbc Holdings PLC acquired a new position in shares of Privia Health Group in the second quarter valued at approximately $2,602,000. Finally, PDT Partners LLC acquired a new stake in shares of Privia Health Group during the second quarter worth $4,651,000. Institutional investors and hedge funds own 94.48% of the company’s stock.

Wall Street Analyst Weigh In

PRVA has been the topic of a number of analyst reports. Canaccord Genuity Group set a $32.00 price objective on shares of Privia Health Group in a research report on Friday, August 7th. Barclays cut their price objective on shares of Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 26th. Weiss Ratings raised shares of Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 2nd. Zacks Research raised shares of Privia Health Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. Finally, Citigroup reiterated a “buy” rating on shares of Privia Health Group in a research note on Thursday, July 23rd. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $31.00.

Privia Health Group Price Performance

Privia Health Group stock opened at $20.86 on Friday. The stock’s 50 day moving average price is $24.39 and its 200 day moving average price is $23.20. Privia Health Group, Inc. has a 1-year low of $19.53 and a 1-year high of $28.82. The company has a market cap of $2.66 billion, a PE ratio of 99.34, a price-to-earnings-growth ratio of 1.66 and a beta of 0.85.

Privia Health Group (NASDAQ:PRVA) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.12. The firm had revenue of $632.63 million during the quarter, compared to analysts’ expectations of $597.33 million. Privia Health Group had a return on equity of 3.52% and a net margin of 1.19%.Privia Health Group’s revenue was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.24 earnings per share. On average, equities research analysts anticipate that Privia Health Group, Inc. will post 0.27 EPS for the current fiscal year.

Insider Transactions at Privia Health Group

In related news, CFO David Mountcastle sold 24,734 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $27.50, for a total value of $680,185.00. Following the completion of the sale, the chief financial officer owned 186,728 shares in the company, valued at $5,135,020. This trade represents a 11.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Shawn Morris sold 88,110 shares of the business’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $25.33, for a total transaction of $2,231,826.30. Following the sale, the director directly owned 76,651 shares in the company, valued at approximately $1,941,569.83. This represents a 53.48% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 327,886 shares of company stock valued at $8,628,256 in the last quarter. Insiders own 5.70% of the company’s stock.

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.