Weiss Asset Management LP Makes New $553,000 Investment in Privia Health Group, Inc. $PRVA

Weiss Asset Management LP acquired a new stake in Privia Health Group, Inc. (NASDAQ:PRVA) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 26,900 shares of the company’s stock, valued at approximately $553,000.

Other hedge funds also recently made changes to their positions in the company. Bayban purchased a new position in shares of Privia Health Group in the fourth quarter valued at $26,000. Hantz Financial Services Inc. increased its stake in Privia Health Group by 456.2% during the 4th quarter. Hantz Financial Services Inc. now owns 1,129 shares of the company’s stock worth $27,000 after buying an additional 926 shares during the period. Global Retirement Partners LLC increased its stake in Privia Health Group by 579.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,584 shares of the company’s stock worth $38,000 after buying an additional 1,351 shares during the period. Canada Pension Plan Investment Board lifted its holdings in Privia Health Group by 48.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 3,700 shares of the company’s stock worth $85,000 after buying an additional 1,200 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in Privia Health Group in the 4th quarter worth $93,000. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Canaccord Genuity Group lowered their target price on Privia Health Group from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Citigroup reiterated a “buy” rating on shares of Privia Health Group in a research note on Thursday. Evercore set a $26.00 price target on Privia Health Group in a report on Wednesday, April 8th. Weiss Ratings upgraded Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 2nd. Finally, Zacks Research downgraded Privia Health Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.15.

Privia Health Group Price Performance

NASDAQ PRVA opened at $24.67 on Tuesday. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 154.20, a price-to-earnings-growth ratio of 2.02 and a beta of 0.83. Privia Health Group, Inc. has a 12 month low of $18.77 and a 12 month high of $28.82. The company’s fifty day moving average price is $24.42 and its two-hundred day moving average price is $23.33.

Insider Activity

In related news, Director Matthew Shawn Morris sold 53,722 shares of the business’s stock in a transaction dated 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 directly owned 68,188 shares of the company’s stock, valued at $1,857,441.12. The trade was a 44.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Parth Mehrotra sold 15,647 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $22.64, for a total value of $354,248.08. Following the sale, the chief executive officer owned 434,357 shares in the company, valued at $9,833,842.48. The trade was a 3.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 478,855 shares of company stock worth $12,099,109. 5.70% of the stock is currently owned by corporate insiders.

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.