Louisiana State Employees Retirement System Purchases Shares of 51,300 Privia Health Group, Inc. $PRVA

Louisiana State Employees Retirement System purchased a new stake in shares of Privia Health Group, Inc. (NASDAQ:PRVA) in the 1st quarter, Holdings Channel.com reports. The fund purchased 51,300 shares of the company’s stock, valued at approximately $1,055,000.

Other hedge funds also recently modified their holdings of the company. Durable Capital Partners LP grew its stake in shares of Privia Health Group by 1.8% in the third quarter. Durable Capital Partners LP now owns 11,691,685 shares of the company’s stock worth $291,123,000 after purchasing an additional 203,842 shares during the last quarter. State Street Corp increased its holdings in Privia Health Group by 1.5% in the second quarter. State Street Corp now owns 4,171,069 shares of the company’s stock valued at $95,935,000 after purchasing an additional 61,853 shares during the period. Van Berkom & Associates Inc. increased its holdings in Privia Health Group by 1.8% in the fourth quarter. Van Berkom & Associates Inc. now owns 3,844,256 shares of the company’s stock valued at $91,147,000 after purchasing an additional 69,691 shares during the period. Geode Capital Management LLC raised its position in Privia Health Group by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 2,814,290 shares of the company’s stock worth $66,738,000 after purchasing an additional 31,204 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Privia Health Group by 1.6% during the 4th quarter. Principal Financial Group Inc. now owns 2,787,802 shares of the company’s stock worth $66,099,000 after purchasing an additional 43,589 shares during the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on PRVA. Canaccord Genuity Group reduced their price target on Privia Health Group from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Barclays lowered their price objective on Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 26th. Evercore set a $26.00 target price on Privia Health Group in a report on Wednesday, April 8th. Finally, Weiss Ratings upgraded Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday. Eleven equities research 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 has a consensus rating of “Moderate Buy” and a consensus target price of $31.15.

Privia Health Group Price Performance

PRVA stock opened at $27.36 on Friday. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 171.01, a PEG ratio of 2.16 and a beta of 0.83. The company’s fifty day simple moving average is $23.45 and its 200 day simple moving average is $23.02. Privia Health Group, Inc. has a 12-month low of $18.77 and a 12-month high of $27.52.

Privia Health Group (NASDAQ:PRVA) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.19 earnings per share 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 firm had revenue of $603.85 million during the quarter, compared to the consensus estimate of $560.99 million. During the same period last year, the business posted $0.22 EPS. The business’s revenue was up 25.8% compared to the same quarter last year. Research analysts expect that Privia Health Group, Inc. will post 0.27 earnings per share for the current year.

Insider Activity at Privia Health Group

In related news, Director Matthew Shawn Morris sold 63,212 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $25.33, for a total transaction of $1,601,159.96. Following the completion of the sale, the director owned 76,651 shares of the company’s stock, valued at $1,941,569.83. This trade represents a 45.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Mountcastle sold 17,196 shares of Privia Health Group stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $25.18, for a total value of $432,995.28. Following the completion of the sale, the chief financial officer owned 211,462 shares of the company’s stock, valued at approximately $5,324,613.16. The trade was a 7.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 319,487 shares of company stock worth $7,736,834 in the last 90 days. Corporate insiders own 5.70% of the company’s stock.

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.