Algert Global LLC Sells 68,290 Shares of Privia Health Group, Inc. $PRVA

Algert Global LLC reduced its stake in Privia Health Group, Inc. (NASDAQ:PRVA) by 39.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 103,000 shares of the company’s stock after selling 68,290 shares during the period. Algert Global LLC’s holdings in Privia Health Group were worth $2,650,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Privia Health Group during the 2nd quarter worth $550,684,000. Durable Capital Partners LP raised its stake in Privia Health Group by 1.8% in the third quarter. Durable Capital Partners LP now owns 11,691,685 shares of the company’s stock valued at $291,123,000 after purchasing an additional 203,842 shares in the last quarter. State Street Corp raised its stake in Privia Health Group by 1.5% in the second quarter. State Street Corp now owns 4,171,069 shares of the company’s stock valued at $95,935,000 after purchasing an additional 61,853 shares in the last quarter. Van Berkom & Associates Inc. lifted its position in Privia Health Group by 5.4% during the first quarter. Van Berkom & Associates Inc. now owns 4,053,043 shares of the company’s stock worth $83,371,000 after purchasing an additional 208,787 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in Privia Health Group during the second quarter worth about $74,425,000. Institutional investors and hedge funds own 94.48% of the company’s stock.

Privia Health Group Stock Down 0.3%

Shares of PRVA opened at $20.79 on Friday. The stock has a market cap of $2.66 billion, a PE ratio of 99.00, a PEG ratio of 1.64 and a beta of 0.85. Privia Health Group, Inc. has a 12-month low of $19.53 and a 12-month high of $28.82. The business has a 50-day simple moving average of $24.33 and a two-hundred day simple moving average of $23.18.

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, beating the consensus estimate of $0.07 by $0.12. The company had revenue of $632.63 million during the quarter, compared to the consensus estimate of $597.33 million. Privia Health Group had a return on equity of 3.52% and a net margin of 1.19%.The firm’s revenue was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.24 earnings per share. On average, equities research analysts expect that Privia Health Group, Inc. will post 0.27 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PRVA. Canaccord Genuity Group set a $32.00 price objective on shares of Privia Health Group in a research note on Friday, August 7th. Weiss Ratings upgraded Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 2nd. Zacks Research raised Privia Health Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. Barclays decreased their price target on Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 26th. Finally, Citigroup reissued a “buy” rating on shares of Privia Health Group in a report on Thursday, July 23rd. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Insider Activity

In other Privia Health Group news, Director Matthew Shawn Morris sold 88,110 shares of the company’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $25.33, for a total value of $2,231,826.30. Following the sale, the director owned 76,651 shares in the company, valued at approximately $1,941,569.83. The trade was a 53.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Mountcastle sold 24,734 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $27.50, for a total value of $680,185.00. Following the transaction, the chief financial officer owned 186,728 shares of the company’s stock, valued at $5,135,020. This trade represents a 11.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 over the last ninety days. Company insiders own 5.70% of the company’s stock.

Privia Health Group 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.