Hsbc Holdings PLC Makes New Investment in Privia Health Group, Inc. $PRVA

Hsbc Holdings PLC bought a new stake in shares of Privia Health Group, Inc. (NASDAQ:PRVA) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 100,213 shares of the company’s stock, valued at approximately $2,602,000. Hsbc Holdings PLC owned approximately 0.08% of Privia Health Group at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in PRVA. Renaissance Group LLC bought a new position in shares of Privia Health Group during the 4th quarter valued at approximately $7,776,000. Oppenheimer Asset Management Inc. purchased a new stake in Privia Health Group during the 2nd quarter valued at $5,841,000. Principal Financial Group Inc. lifted its position in Privia Health Group by 1.6% in the fourth quarter. Principal Financial Group Inc. now owns 2,787,802 shares of the company’s stock worth $66,099,000 after buying an additional 43,589 shares during the last quarter. Van Berkom & Associates Inc. lifted its position in Privia Health Group by 5.4% in the first quarter. Van Berkom & Associates Inc. now owns 4,053,043 shares of the company’s stock worth $83,371,000 after buying an additional 208,787 shares during the last quarter. Finally, Louisiana State Employees Retirement System purchased a new position in Privia Health Group during the first quarter worth $1,055,000. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Privia Health Group Price Performance

PRVA opened at $20.79 on Monday. The business has a fifty day moving average of $24.33 and a 200 day moving average of $23.19. The stock has a market cap of $2.66 billion, a P/E ratio of 99.00, a PEG ratio of 1.64 and a beta of 0.85. Privia Health Group, Inc. has a 52-week low of $19.53 and a 52-week high of $28.82.

Privia Health Group (NASDAQ:PRVA) last released its earnings results on Thursday, August 6th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.12. Privia Health Group had a return on equity of 3.52% and a net margin of 1.19%.The business had revenue of $632.63 million for the quarter, compared to analyst estimates of $597.33 million. During the same quarter last year, the firm posted $0.24 earnings per share. The business’s revenue was up 21.4% compared to the same quarter last year. Equities analysts anticipate that Privia Health Group, Inc. will post 0.27 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Barclays cut their price objective on shares of 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. Citigroup restated a “buy” rating on shares of Privia Health Group in a report on Thursday, July 23rd. Weiss Ratings upgraded shares of Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 2nd. Canaccord Genuity Group set a $32.00 price target on shares of Privia Health Group in a report on Friday, August 7th. Finally, Zacks Research raised shares of Privia Health Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 5th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Privia Health Group currently has an average rating of “Moderate Buy” and a consensus price target of $31.00.

Insider Transactions at Privia Health Group

In related news, CFO David Mountcastle sold 24,734 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $27.50, for a total value of $680,185.00. Following the transaction, the chief financial officer owned 186,728 shares of the company’s stock, valued at $5,135,020. This trade represents a 11.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Shawn Morris sold 88,110 shares of Privia Health Group stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $25.33, for a total transaction of $2,231,826.30. Following the sale, the director owned 76,651 shares of the company’s stock, valued at $1,941,569.83. The trade was a 53.48% 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. Over the last 90 days, insiders sold 327,886 shares of company stock worth $8,628,256. Company insiders own 5.70% of the company’s stock.

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.