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

Privia Health Group, Inc. (NASDAQ:PRVA) has been given an average rating of “Moderate Buy” by the fourteen research firms that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $31.00.

PRVA has been the topic of several research reports. Canaccord Genuity Group set a $32.00 price target on Privia Health Group in a research report on Friday, August 7th. Barclays decreased their price objective on Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating for the company in a report on Tuesday, May 26th. Weiss Ratings upgraded shares of Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 2nd. Citigroup reaffirmed a “buy” rating on shares of Privia Health Group in a research report on Thursday, July 23rd. Finally, Zacks Research upgraded shares of Privia Health Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 5th.

Privia Health Group Price Performance

Shares of PRVA opened at $20.79 on Monday. The company has a 50-day simple moving average of $24.33 and a two-hundred day simple moving average of $23.19. The firm has a market capitalization of $2.66 billion, a PE ratio of 99.00, a price-to-earnings-growth ratio of 1.64 and a beta of 0.85. Privia Health Group has a one year low of $19.53 and a one year high of $28.82.

Privia Health Group (NASDAQ:PRVA) last posted its earnings results on Thursday, August 6th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.12. Privia Health Group had a return on equity of 3.52% and a net margin of 1.19%.The firm had revenue of $632.63 million for the quarter, compared to the consensus estimate of $597.33 million. During the same quarter in the prior year, the business earned $0.24 EPS. The business’s revenue for the quarter was up 21.4% on a year-over-year basis. Analysts expect that Privia Health Group will post 0.27 EPS for the current fiscal year.

Insider Activity

In other Privia Health Group news, CFO David Mountcastle sold 21,275 shares of the company’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $27.67, for a total value of $588,679.25. Following the sale, the chief financial officer owned 164,853 shares in the company, valued at approximately $4,561,482.51. This represents a 11.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Shawn Morris sold 53,722 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $27.24, for a total transaction of $1,463,387.28. Following the transaction, the director directly owned 68,188 shares of the company’s stock, valued at $1,857,441.12. This represents a 44.07% 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. Insiders have sold 327,886 shares of company stock worth $8,628,256 in the last three months. 5.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PRVA. Public Employees Retirement System of Ohio bought a new stake in Privia Health Group in the second quarter worth $26,000. Bayban purchased a new stake in shares of Privia Health Group in the fourth quarter worth $26,000. Hantz Financial Services Inc. increased 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 valued at $27,000 after acquiring an additional 926 shares in the last quarter. Global Retirement Partners LLC increased 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 valued at $38,000 after acquiring an additional 1,351 shares in the last quarter. Finally, Allworth Financial LP purchased a new position in shares of Privia Health Group in the 2nd quarter worth about $48,000. Hedge funds and other institutional investors own 94.48% of the company’s stock.

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.