Intech Investment Management LLC Sells 29,031 Shares of Privia Health Group, Inc. $PRVA

Intech Investment Management LLC decreased its position in shares of Privia Health Group, Inc. (NASDAQ:PRVA) by 40.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,103 shares of the company’s stock after selling 29,031 shares during the period. Intech Investment Management LLC’s holdings in Privia Health Group were worth $1,073,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PRVA. Wealth Alliance LLC grew its stake in shares of Privia Health Group by 4.4% in the third quarter. Wealth Alliance LLC now owns 11,979 shares of the company’s stock worth $298,000 after purchasing an additional 508 shares during the last quarter. Arizona State Retirement System raised its position in Privia Health Group by 1.9% during the 3rd quarter. Arizona State Retirement System now owns 28,835 shares of the company’s stock valued at $718,000 after purchasing an additional 524 shares during the last quarter. Bank of Montreal Can lifted its holdings in Privia Health Group by 1.9% in the 2nd quarter. Bank of Montreal Can now owns 28,694 shares of the company’s stock worth $660,000 after buying an additional 543 shares during the period. Illinois Municipal Retirement Fund grew its position in shares of Privia Health Group by 1.1% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 55,501 shares of the company’s stock worth $1,382,000 after buying an additional 585 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Privia Health Group by 9.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 7,731 shares of the company’s stock worth $193,000 after buying an additional 675 shares during the last quarter. Institutional investors own 94.48% of the company’s stock.

Privia Health Group Stock Down 2.4%

NASDAQ PRVA opened at $23.27 on Friday. Privia Health Group, Inc. has a twelve month low of $18.77 and a twelve month high of $26.51. The firm has a market capitalization of $2.88 billion, a PE ratio of 136.88, a P/E/G ratio of 1.56 and a beta of 0.82. The stock’s 50 day moving average is $23.04 and its 200 day moving average is $23.57.

Privia Health Group (NASDAQ:PRVA) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.21. The business had revenue of $541.17 million during the quarter, compared to the consensus estimate of $516.61 million. Privia Health Group had a return on equity of 3.06% and a net margin of 1.08%.The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.21 earnings per share. On average, research analysts anticipate that Privia Health Group, Inc. will post 0.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Jefferies Financial Group restated a “buy” rating and set a $32.00 target price on shares of Privia Health Group in a report on Thursday, February 26th. Barclays lifted their price target on shares of Privia Health Group from $22.00 to $23.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Stephens reissued an “overweight” rating and set a $32.00 price objective on shares of Privia Health Group in a research report on Thursday, December 4th. Truist Financial raised their target price on shares of Privia Health Group from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Privia Health Group in a research note on Monday, December 29th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Insider Activity

In other Privia Health Group news, CFO David Mountcastle sold 23,887 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $25.03, for a total value of $597,891.61. Following the sale, the chief financial officer owned 172,909 shares in the company, valued at approximately $4,327,912.27. This represents a 12.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew Shawn Morris sold 16,550 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $25.00, for a total transaction of $413,750.00. Following the transaction, the director directly owned 68,188 shares of the company’s stock, valued at $1,704,700. This represents a 19.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 74,930 shares of company stock valued at $1,874,410. 10.70% of the stock is owned by company insiders.

Privia Health Group Company 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.