Privia Health Group (NASDAQ:PRVA) Shares Up 4.1%

Privia Health Group, Inc. (NASDAQ:PRVAGet Free Report) shares shot up 4.1% during trading on Thursday . The stock traded as high as $17.08 and last traded at $17.08. 52,304 shares were traded during trading, a decline of 95% from the average session volume of 982,174 shares. The stock had previously closed at $16.40.

Analysts Set New Price Targets

Several research firms have recently commented on PRVA. Stifel Nicolaus lowered their price target on Privia Health Group from $28.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Jefferies Financial Group began coverage on Privia Health Group in a research note on Monday, February 26th. They issued a “buy” rating and a $25.00 price objective on the stock. UBS Group reduced their price objective on Privia Health Group from $31.00 to $29.00 and set a “buy” rating on the stock in a research note on Friday, March 1st. TD Cowen reduced their price objective on Privia Health Group from $30.00 to $26.00 and set an “outperform” rating on the stock in a research note on Friday, March 1st. Finally, JPMorgan Chase & Co. cut their price target on Privia Health Group from $38.00 to $30.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 6th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Privia Health Group presently has an average rating of “Moderate Buy” and a consensus price target of $24.92.

Read Our Latest Research Report on PRVA

Privia Health Group Price Performance

The stock has a 50-day moving average price of $18.18 and a 200 day moving average price of $20.51. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 115.47, a PEG ratio of 2.54 and a beta of 0.81.

Privia Health Group (NASDAQ:PRVAGet Free Report) last posted its earnings results on Tuesday, February 27th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). Privia Health Group had a return on equity of 3.13% and a net margin of 1.11%. The firm had revenue of $440.80 million for the quarter, compared to analyst estimates of $425.81 million. During the same quarter last year, the firm posted $0.14 EPS. The firm’s revenue for the quarter was up 21.0% on a year-over-year basis. As a group, equities research analysts predict that Privia Health Group, Inc. will post 0.21 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Thomas A. Mccarthy purchased 10,000 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were purchased at an average price of $16.37 per share, with a total value of $163,700.00. Following the completion of the acquisition, the director now directly owns 52,611 shares in the company, valued at approximately $861,242.07. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Privia Health Group news, EVP Thomas Bartrum sold 2,252 shares of Privia Health Group stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $18.42, for a total value of $41,481.84. Following the sale, the executive vice president now owns 103,862 shares of the company’s stock, valued at approximately $1,913,138.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas A. Mccarthy acquired 10,000 shares of the stock in a transaction on Thursday, May 23rd. The stock was acquired at an average cost of $16.37 per share, for a total transaction of $163,700.00. Following the acquisition, the director now directly owns 52,611 shares in the company, valued at approximately $861,242.07. The disclosure for this purchase can be found here. Insiders have sold a total of 49,390 shares of company stock valued at $897,700 over the last quarter. 14.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Privia Health Group

A number of institutional investors have recently added to or reduced their stakes in PRVA. Advisors Preferred LLC purchased a new stake in shares of Privia Health Group during the 4th quarter worth approximately $2,137,000. Loomis Sayles & Co. L P boosted its stake in shares of Privia Health Group by 1.2% during the 3rd quarter. Loomis Sayles & Co. L P now owns 623,870 shares of the company’s stock worth $14,349,000 after acquiring an additional 7,577 shares in the last quarter. Walleye Capital LLC purchased a new stake in shares of Privia Health Group during the 3rd quarter worth approximately $1,394,000. Riverbridge Partners LLC boosted its stake in shares of Privia Health Group by 8.7% during the 4th quarter. Riverbridge Partners LLC now owns 4,342,385 shares of the company’s stock worth $100,005,000 after acquiring an additional 348,852 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Privia Health Group by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 11,003,989 shares of the company’s stock worth $253,092,000 after acquiring an additional 51,317 shares in the last quarter. Hedge funds and other institutional investors own 94.48% of the company’s stock.

About Privia Health Group

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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.

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