PDT Partners LLC Invests $4.65 Million in Privia Health Group, Inc. $PRVA

PDT Partners LLC purchased a new stake in Privia Health Group, Inc. (NASDAQ:PRVA) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 180,779 shares of the company’s stock, valued at approximately $4,651,000.

Several other large investors also recently made changes to their positions in PRVA. Royal Bank of Canada increased its stake in shares of Privia Health Group by 63.5% during the 1st quarter. Royal Bank of Canada now owns 245,633 shares of the company’s stock worth $5,514,000 after purchasing an additional 95,371 shares during the last quarter. AQR Capital Management LLC grew its holdings in Privia Health Group by 24.7% during the first quarter. AQR Capital Management LLC now owns 40,781 shares of the company’s stock worth $916,000 after purchasing an additional 8,068 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Privia Health Group by 3.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 118,764 shares of the company’s stock worth $2,666,000 after buying an additional 3,714 shares during the last quarter. Intech Investment Management LLC raised its stake in Privia Health Group by 55.1% in the first quarter. Intech Investment Management LLC now owns 56,553 shares of the company’s stock valued at $1,270,000 after buying an additional 20,082 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in shares of Privia Health Group in the first quarter valued at approximately $154,000. Institutional investors and hedge funds own 94.48% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PRVA shares. Canaccord Genuity Group set a $32.00 target price on Privia Health Group in a report on Friday, August 7th. Barclays dropped their price objective on shares of Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 26th. 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. Weiss Ratings upgraded Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 2nd. Finally, Citigroup reissued a “buy” rating on shares of Privia Health Group in a report on Thursday, July 23rd. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

Privia Health Group Stock Performance

PRVA opened at $21.20 on Wednesday. Privia Health Group, Inc. has a 52-week low of $19.53 and a 52-week high of $28.82. The firm has a market cap of $2.71 billion, a P/E ratio of 100.96, a price-to-earnings-growth ratio of 1.66 and a beta of 0.85. The business’s fifty day moving average is $24.50 and its 200-day moving average is $23.21.

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

Insider Activity at Privia Health Group

In related news, Director Matthew Shawn Morris sold 53,722 shares of Privia Health Group stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $27.24, for a total value 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 trade represents a 44.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Mountcastle sold 21,275 shares of the company’s stock in a transaction on Thursday, July 9th. The stock was 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 of the company’s stock, valued at $4,561,482.51. The trade was a 11.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 327,886 shares of company stock worth $8,628,256 in the last quarter. 5.70% of the stock is currently owned by company insiders.

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.