Privia Health Group, Inc. (NASDAQ:PRVA) Given Average Rating of “Moderate Buy” by Brokerages

Privia Health Group, Inc. (NASDAQ:PRVA) has been given a consensus recommendation of “Moderate Buy” by the fifteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $24.79.

PRVA has been the subject of a number of research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $28.00 price target on shares of Privia Health Group in a report on Wednesday. Truist Financial reduced their target price on shares of Privia Health Group from $28.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Barclays dropped their price target on Privia Health Group from $22.00 to $19.00 and set an “equal weight” rating on the stock in a report on Monday, May 20th. Stifel Nicolaus reduced their price objective on Privia Health Group from $28.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Finally, Citigroup assumed coverage on Privia Health Group in a research report on Monday, April 22nd. They set a “buy” rating and a $25.00 target price on the stock.

Privia Health Group Price Performance

Shares of NASDAQ:PRVA opened at $19.90 on Friday. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 132.67, a PEG ratio of 4.23 and a beta of 0.78. Privia Health Group has a 12 month low of $15.92 and a 12 month high of $27.14. The stock’s 50 day moving average price is $18.38 and its 200 day moving average price is $18.91.

Privia Health Group (NASDAQ:PRVA) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The firm had revenue of $422.30 million during the quarter, compared to the consensus estimate of $411.50 million. Privia Health Group had a return on equity of 2.42% and a net margin of 0.88%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.06 EPS. On average, sell-side analysts expect that Privia Health Group will post 0.17 EPS for the current year.

Insider Transactions at Privia Health Group

In related news, Director Thomas A. Mccarthy acquired 10,000 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were purchased at an average cost of $16.37 per share, with a total value of $163,700.00. Following the completion of the transaction, the director now owns 52,611 shares of the company’s stock, valued at approximately $861,242.07. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Thomas A. Mccarthy bought 10,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was bought at an average price of $16.37 per share, with a total value of $163,700.00. Following the purchase, the director now directly owns 52,611 shares of the company’s stock, valued at approximately $861,242.07. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Adam Boehler purchased 5,306 shares of the stock in a transaction dated Wednesday, May 29th. The shares were bought at an average price of $16.50 per share, for a total transaction of $87,549.00. Following the completion of the acquisition, the director now owns 5,773,158 shares in the company, valued at $95,257,107. The disclosure for this purchase can be found here. Insiders purchased 293,235 shares of company stock valued at $4,745,481 over the last three months. 14.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PRVA. Canada Pension Plan Investment Board bought a new stake in shares of Privia Health Group in the 2nd quarter valued at approximately $26,000. Nisa Investment Advisors LLC grew its position in Privia Health Group by 107.5% in the second quarter. Nisa Investment Advisors LLC now owns 1,795 shares of the company’s stock worth $31,000 after acquiring an additional 930 shares in the last quarter. Signaturefd LLC increased its stake in shares of Privia Health Group by 46.3% during the 2nd quarter. Signaturefd LLC now owns 1,978 shares of the company’s stock worth $34,000 after purchasing an additional 626 shares during the last quarter. Park Place Capital Corp raised its holdings in shares of Privia Health Group by 115.4% during the 1st quarter. Park Place Capital Corp now owns 2,492 shares of the company’s stock valued at $49,000 after purchasing an additional 1,335 shares in the last quarter. Finally, Benjamin Edwards Inc. lifted its stake in shares of Privia Health Group by 44.9% in the 4th quarter. Benjamin Edwards Inc. now owns 3,239 shares of the company’s stock valued at $75,000 after purchasing an additional 1,003 shares during the last quarter. 94.48% of the stock is owned by institutional investors and hedge funds.

Privia Health Group Company Profile

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.