Citigroup Begins Coverage on Privia Health Group (NASDAQ:PRVA)

Citigroup began coverage on shares of Privia Health Group (NASDAQ:PRVA) in a report published on Monday morning, Marketbeat.com reports. The firm issued a buy rating and a $25.00 price objective on the stock.

Several other equities analysts have also weighed in on PRVA. Truist Financial decreased their target price on shares of Privia Health Group from $32.00 to $28.00 and set a buy rating on the stock in a report on Thursday, February 29th. Canaccord Genuity Group lowered their price objective on Privia Health Group from $41.00 to $37.00 and set a buy rating for the company in a research report on Tuesday, March 19th. Bank of America cut Privia Health Group from a buy rating to a neutral rating and cut their target price for the stock from $27.00 to $21.00 in a research note on Thursday, February 22nd. TD Cowen decreased their price target on Privia Health Group from $30.00 to $26.00 and set an outperform rating on the stock in a research note on Friday, March 1st. Finally, UBS Group cut their price objective on Privia Health Group from $31.00 to $29.00 and set a buy rating for the company in a research report on Friday, March 1st. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $27.92.

Privia Health Group Stock Performance

Shares of Privia Health Group stock opened at $18.05 on Monday. The business’s 50 day moving average price is $20.02 and its 200 day moving average price is $21.36. The company has a market cap of $2.14 billion, a price-to-earnings ratio of 95.00, a PEG ratio of 2.47 and a beta of 0.81. Privia Health Group has a one year low of $17.54 and a one year high of $30.15.

Privia Health Group (NASDAQ:PRVA) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). Privia Health Group had a return on equity of 3.97% and a net margin of 1.39%. The company had revenue of $440.80 million for the quarter, compared to analysts’ expectations of $425.81 million. During the same quarter in the prior year, the firm earned $0.14 EPS. The firm’s revenue was up 21.0% on a year-over-year basis. On average, analysts predict that Privia Health Group will post 0.26 EPS for the current fiscal year.

Insider Activity at Privia Health Group

In other Privia Health Group news, CFO David Mountcastle sold 3,933 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $17.77, for a total transaction of $69,889.41. Following the sale, the chief financial officer now directly owns 262,279 shares in the company, valued at $4,660,697.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Privia Health Group news, CFO David Mountcastle sold 3,933 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $17.77, for a total value of $69,889.41. Following the completion of the transaction, the chief financial officer now owns 262,279 shares of the company’s stock, valued at approximately $4,660,697.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William M. Sullivan sold 9,951 shares of the business’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $23.03, for a total transaction of $229,171.53. Following the completion of the transaction, the director now owns 5,464,533 shares of the company’s stock, valued at approximately $125,848,194.99. The disclosure for this sale can be found here. 14.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Privia Health Group

A number of hedge funds have recently bought and sold shares of the stock. Covestor Ltd grew its position in shares of Privia Health Group by 8.3% during the third quarter. Covestor Ltd now owns 6,703 shares of the company’s stock worth $154,000 after buying an additional 514 shares in the last quarter. Yousif Capital Management LLC grew its holdings in Privia Health Group by 1.1% during the 4th quarter. Yousif Capital Management LLC now owns 52,628 shares of the company’s stock worth $1,212,000 after acquiring an additional 563 shares in the last quarter. New York State Common Retirement Fund grew its holdings in Privia Health Group by 2.7% during the 3rd quarter. New York State Common Retirement Fund now owns 27,966 shares of the company’s stock worth $643,000 after acquiring an additional 737 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of 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 valued at $176,000 after purchasing an additional 756 shares during the last quarter. Finally, Glenmede Trust Co. NA raised its holdings in shares of Privia Health Group by 0.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 107,711 shares of the company’s stock valued at $2,477,000 after purchasing an additional 976 shares in the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

About Privia Health Group

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.