Man Group plc Acquires Shares of 210,624 Privia Health Group, Inc. $PRVA

Man Group plc purchased a new position in shares of Privia Health Group, Inc. (NASDAQ:PRVA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 210,624 shares of the company’s stock, valued at approximately $5,419,000.

Other institutional investors also recently bought and sold shares of the company. Jupiter Topco LLC purchased a new position in shares of Privia Health Group during the 2nd quarter worth approximately $1,134,000. Hsbc Holdings PLC acquired a new position in Privia Health Group in the second quarter valued at $2,602,000. PDT Partners LLC purchased a new position in shares of Privia Health Group during the 2nd quarter worth about $4,651,000. Canada Pension Plan Investment Board purchased a new position in Privia Health Group during the second quarter worth approximately $391,000. Finally, Rubicon Founders LLC acquired a new position in Privia Health Group in the second quarter valued at $153,635,863. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Privia Health Group news, CFO David Mountcastle sold 21,275 shares of the business’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $27.67, for a total transaction 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. The trade was a 11.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 dated Monday, July 6th. The stock was sold at an average price of $27.24, for a total transaction of $1,463,387.28. Following the completion of the transaction, the director owned 68,188 shares of the company’s stock, valued at approximately $1,857,441.12. The trade was a 44.07% 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 327,886 shares of company stock worth $8,628,256 over the last ninety days. 5.70% of the stock is owned by insiders.

Privia Health Group Price Performance

PRVA stock opened at $20.79 on Friday. Privia Health Group, Inc. has a 12 month low of $19.53 and a 12 month high of $28.82. The firm has a market cap of $2.66 billion, a PE ratio of 99.00, a P/E/G ratio of 1.64 and a beta of 0.85. The firm has a 50 day simple moving average of $24.33 and a 200 day simple moving average of $23.18.

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

Analysts Set New Price Targets

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

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.