Algert Global LLC Increases Holdings in Privia Health Group, Inc. $PRVA

Algert Global LLC boosted its holdings in shares of Privia Health Group, Inc. (NASDAQ:PRVA) by 277.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 484,304 shares of the company’s stock after buying an additional 355,966 shares during the quarter. Algert Global LLC owned 0.39% of Privia Health Group worth $12,059,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PRVA. Canada Pension Plan Investment Board boosted 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 purchasing an additional 1,200 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Privia Health Group during the 2nd quarter valued at about $113,000. Covestor Ltd raised its stake in shares of Privia Health Group by 39.8% during the 3rd quarter. Covestor Ltd now owns 5,824 shares of the company’s stock valued at $145,000 after buying an additional 1,657 shares during the last quarter. CWM LLC lifted its holdings in shares of Privia Health Group by 94.2% in the 3rd quarter. CWM LLC now owns 6,634 shares of the company’s stock valued at $165,000 after buying an additional 3,218 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in shares of Privia Health Group in the 1st quarter valued at about $154,000. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on PRVA. Wolfe Research set a $31.00 target price on Privia Health Group in a report on Tuesday, January 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Privia Health Group in a report on Monday, December 29th. Piper Sandler restated an “overweight” rating and issued a $36.00 price objective on shares of Privia Health Group in a research report on Thursday, February 26th. Canaccord Genuity Group raised their price objective on shares of Privia Health Group from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $32.00 target price on shares of Privia Health Group in a report on Thursday, February 26th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.00.

Privia Health Group Trading Down 0.2%

Shares of Privia Health Group stock opened at $21.68 on Monday. Privia Health Group, Inc. has a twelve month low of $18.77 and a twelve month high of $26.51. The firm has a market capitalization of $2.68 billion, a PE ratio of 127.53, a P/E/G ratio of 1.37 and a beta of 0.82. The firm’s 50-day moving average price is $22.89 and its 200 day moving average price is $23.61.

Privia Health Group (NASDAQ:PRVA) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.04 by $0.21. Privia Health Group had a return on equity of 3.06% and a net margin of 1.08%.The company had revenue of $541.17 million during the quarter, compared to analyst estimates of $516.61 million. During the same period in the previous year, the business earned $0.21 EPS. Privia Health Group’s quarterly revenue was up 17.4% on a year-over-year basis. On average, sell-side analysts predict that Privia Health Group, Inc. will post 0.14 EPS for the current fiscal year.

Insider Buying and Selling at Privia Health Group

In other news, EVP Edward C. Fargis sold 4,949 shares of Privia Health Group stock in a transaction on Monday, March 9th. The stock was sold at an average price of $22.84, for a total transaction of $113,035.16. Following the transaction, the executive vice president owned 83,711 shares in the company, valued at $1,911,959.24. The trade was a 5.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Parth Mehrotra sold 41,999 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $22.86, for a total transaction of $960,097.14. Following the transaction, the chief executive officer directly owned 343,795 shares in the company, valued at approximately $7,859,153.70. The trade was a 10.89% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 142,281 shares of company stock valued at $3,338,491. Insiders own 10.70% 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.