Sterling Capital Management LLC Lowers Stock Position in Privia Health Group, Inc. $PRVA

Sterling Capital Management LLC cut its stake in shares of Privia Health Group, Inc. (NASDAQ:PRVA) by 66.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,899 shares of the company’s stock after selling 68,534 shares during the period. Sterling Capital Management LLC’s holdings in Privia Health Group were worth $718,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of research firms have commented on PRVA. Evercore set a $26.00 price target on Privia Health Group in a research note on Wednesday, April 8th. Weiss Ratings downgraded Privia Health Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 8th. Canaccord Genuity Group decreased their target price on Privia Health Group from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, Barclays lowered their target price on Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating for the company in a report on Tuesday, May 26th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $31.15.

Privia Health Group Price Performance

PRVA stock opened at $26.88 on Thursday. The business’s 50-day moving average is $23.31 and its two-hundred day moving average is $22.98. The firm has a market capitalization of $3.39 billion, a P/E ratio of 168.01, a P/E/G ratio of 2.04 and a beta of 0.83. Privia Health Group, Inc. has a 1 year low of $18.77 and a 1 year high of $27.11.

Privia Health Group (NASDAQ:PRVA) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.11. Privia Health Group had a return on equity of 2.81% and a net margin of 0.97%.The business had revenue of $603.85 million during the quarter, compared to the consensus estimate of $560.99 million. During the same period in the previous year, the company posted $0.22 earnings per share. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. On average, analysts expect that Privia Health Group, Inc. will post 0.27 EPS for the current year.

Insider Buying and Selling

In other news, CFO David Mountcastle sold 17,196 shares of the firm’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $25.18, for a total value of $432,995.28. Following the sale, the chief financial officer directly owned 211,462 shares in the company, valued at approximately $5,324,613.16. This trade represents a 7.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Parth Mehrotra sold 105,439 shares of Privia Health Group stock in a transaction on Monday, May 11th. The stock was sold at an average price of $22.55, for a total transaction of $2,377,649.45. Following the sale, the chief executive officer directly owned 450,004 shares of the company’s stock, valued at approximately $10,147,590.20. This trade represents a 18.98% decrease in their ownership of the stock. 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. Insiders sold 319,487 shares of company stock worth $7,736,834 over the last 90 days. 5.70% of the stock is owned by 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.