Privia Health Group, Inc. (NASDAQ:PRVA) Receives Consensus Rating of “Moderate Buy” from Brokerages

Privia Health Group, Inc. (NASDAQ:PRVA) has been given an average rating of “Moderate Buy” by the fourteen brokerages that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $31.1538.

A number of equities research analysts have recently weighed in on the company. Canaccord Genuity Group cut their price objective 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. Weiss Ratings upgraded Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 2nd. Evercore set a $26.00 price target on Privia Health Group in a research note on Wednesday, April 8th. Zacks Research cut shares of Privia Health Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Finally, Barclays reduced 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.

Privia Health Group News Roundup

Here are the key news stories impacting Privia Health Group this week:

• Positive Sentiment: RBC Capital reiterated its Buy rating on Privia Health Group, which supports the bullish case for the stock. RBC Capital Keeps Their Buy Rating on Privia Health Group (PRVA)
• Neutral Sentiment: Short-interest data showed no meaningful short position changes, so this does not appear to be a major driver of the stock today.
• Neutral Sentiment: CFO David Mountcastle sold a small number of shares under a pre-arranged 10b5-1 trading plan, which is generally viewed as routine insider activity rather than a strong negative signal. Privia Health Group (NASDAQ:PRVA) CFO David Mountcastle Sells 600 Shares
• Negative Sentiment: Zacks Research downgraded Privia Health Group from Hold to Strong Sell, which could pressure sentiment despite the stock’s recent strength. Privia Health Group was downgraded by Zacks Research from “hold” to “strong sell”.

Privia Health Group Price Performance

PRVA traded down $0.28 during midday trading on Friday, reaching $27.49. 820,543 shares of the company’s stock traded hands, compared to its average volume of 1,167,330. The firm has a fifty day moving average of $23.76 and a two-hundred day moving average of $23.14. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of 171.82, a P/E/G ratio of 2.17 and a beta of 0.83. Privia Health Group has a 52 week low of $18.77 and a 52 week high of $27.86.

Insider Transactions at Privia Health Group

In other news, CEO Parth Mehrotra sold 15,647 shares of Privia Health Group stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $22.64, for a total transaction of $354,248.08. Following the sale, the chief executive officer owned 434,357 shares of the company’s stock, valued at approximately $9,833,842.48. The trade was a 3.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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. Also, Director Matthew Shawn Morris sold 53,722 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $27.24, for a total transaction of $1,463,387.28. Following the transaction, the director owned 68,188 shares in the company, valued at $1,857,441.12. This represents a 44.07% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 457,580 shares of company stock valued at $11,510,429. Company insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Privia Health Group

Several hedge funds have recently made changes to their positions in PRVA. Bayban purchased a new stake in Privia Health Group in the fourth quarter worth $26,000. Hantz Financial Services Inc. lifted its position in Privia Health Group by 456.2% during the fourth quarter. Hantz Financial Services Inc. now owns 1,129 shares of the company’s stock valued at $27,000 after buying an additional 926 shares during the period. Global Retirement Partners LLC boosted its holdings in shares of Privia Health Group by 579.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,584 shares of the company’s stock valued at $38,000 after buying an additional 1,351 shares in the last quarter. Harbor Investment Advisory LLC bought a new stake in shares of Privia Health Group during the 2nd quarter valued at $69,000. Finally, Canada Pension Plan Investment Board grew its position in shares of 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 during the period. 94.48% of the stock is currently owned by institutional investors.

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.