Summit Global Investments Makes New $796,000 Investment in Privia Health Group, Inc. $PRVA

Summit Global Investments purchased a new stake in shares of Privia Health Group, Inc. (NASDAQ:PRVA) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 30,919 shares of the company’s stock, valued at approximately $796,000.

Other hedge funds have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. purchased a new stake in shares of Privia Health Group in the 2nd quarter valued at $5,841,000. Handelsbanken Fonder AB lifted its stake in Privia Health Group by 25.3% in the second quarter. Handelsbanken Fonder AB now owns 27,200 shares of the company’s stock worth $700,000 after purchasing an additional 5,500 shares during the last quarter. GAMMA Investing LLC lifted its stake in Privia Health Group by 14.0% in the second quarter. GAMMA Investing LLC now owns 4,819 shares of the company’s stock worth $124,000 after purchasing an additional 592 shares during the last quarter. Harbor Investment Advisory LLC purchased a new stake in Privia Health Group during the second quarter valued at about $69,000. Finally, Central Pacific Bank Trust Division boosted its position in Privia Health Group by 456.5% during the second quarter. Central Pacific Bank Trust Division now owns 7,001 shares of the company’s stock valued at $180,000 after buying an additional 5,743 shares during the period. 94.48% of the stock is currently owned by institutional investors.

Insider Activity

In other Privia Health Group news, CFO David Mountcastle sold 21,275 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer owned 164,853 shares in the company, valued at approximately $4,561,482.51. This trade represents a 11.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Shawn Morris sold 53,722 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $27.24, for a total value of $1,463,387.28. Following the completion of the sale, the director owned 68,188 shares of the company’s stock, valued at approximately $1,857,441.12. This trade represents a 44.07% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 327,886 shares of company stock worth $8,628,256 over the last three months. 5.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PRVA shares. Canaccord Genuity Group set a $32.00 price objective on Privia Health Group in a report on Friday, August 7th. Barclays reduced 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 report on Tuesday, May 26th. Weiss Ratings raised Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 2nd. Zacks Research upgraded Privia Health Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 5th. Finally, Citigroup reissued a “buy” rating on shares of Privia Health Group in a research note 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 stock presently has an average rating of “Moderate Buy” and an average price target of $31.00.

Privia Health Group Trading Up 1.1%

Shares of NASDAQ:PRVA opened at $22.00 on Friday. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 104.77, a price-to-earnings-growth ratio of 1.75 and a beta of 0.85. The company has a 50-day moving average price of $24.71 and a 200-day moving average price of $23.29. Privia Health Group, Inc. has a 12 month low of $19.53 and a 12 month high of $28.82.

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.