Privia Health Group (NASDAQ:PRVA) Coverage Initiated by Analysts at Citigroup

Citigroup began coverage on shares of Privia Health Group (NASDAQ:PRVA) in a report issued on Monday morning, Marketbeat reports. The brokerage issued a buy rating and a $25.00 target price on the stock.

Several other equities analysts have also recently weighed in on PRVA. Jefferies Financial Group started coverage on Privia Health Group in a research report on Monday, February 26th. They issued a buy rating and a $25.00 price target for the company. Bank of America downgraded shares of Privia Health Group from a buy rating to a neutral rating and cut their price target for the company from $27.00 to $21.00 in a report on Thursday, February 22nd. Truist Financial decreased their price target on shares of Privia Health Group from $32.00 to $28.00 and set a buy rating on the stock in a report on Thursday, February 29th. TD Cowen reduced their target price on Privia Health Group from $30.00 to $26.00 and set an outperform rating for the company in a research report on Friday, March 1st. Finally, Canaccord Genuity Group cut their price target on shares of Privia Health Group from $41.00 to $37.00 and set a buy rating for the company in a research note on Tuesday, March 19th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $27.92.

Privia Health Group Stock Performance

Shares of Privia Health Group stock opened at $18.05 on Monday. The stock has a market capitalization of $2.14 billion, a P/E ratio of 95.00, a P/E/G ratio of 2.47 and a beta of 0.81. Privia Health Group has a 52-week low of $17.54 and a 52-week high of $30.15. The stock’s 50-day simple moving average is $20.02 and its 200 day simple moving average is $21.36.

Privia Health Group (NASDAQ:PRVA) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). The business had revenue of $440.80 million during the quarter, compared to the consensus estimate of $425.81 million. Privia Health Group had a net margin of 1.39% and a return on equity of 3.97%. The business’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same period last year, the firm earned $0.14 EPS. Equities research analysts forecast that Privia Health Group will post 0.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director William M. Sullivan sold 9,951 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $23.03, for a total transaction of $229,171.53. Following the transaction, the director now directly owns 5,464,533 shares of the company’s stock, valued at $125,848,194.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Privia Health Group news, Director William M. Sullivan sold 9,951 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $23.03, for a total value of $229,171.53. Following the completion of the sale, the director now owns 5,464,533 shares in the company, valued at $125,848,194.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David Mountcastle sold 3,933 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $17.77, for a total transaction of $69,889.41. Following the sale, the chief financial officer now directly owns 262,279 shares of the company’s stock, valued at approximately $4,660,697.83. The disclosure for this sale can be found here. 14.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Covestor Ltd lifted its holdings in Privia Health Group by 8.3% in the 3rd quarter. Covestor Ltd now owns 6,703 shares of the company’s stock worth $154,000 after buying an additional 514 shares during the period. Yousif Capital Management LLC boosted its holdings in Privia Health Group by 1.1% in the fourth quarter. Yousif Capital Management LLC now owns 52,628 shares of the company’s stock valued at $1,212,000 after acquiring an additional 563 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in Privia Health Group by 2.7% in the third quarter. New York State Common Retirement Fund now owns 27,966 shares of the company’s stock valued at $643,000 after acquiring an additional 737 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Privia Health Group by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,970 shares of the company’s stock valued at $176,000 after purchasing an additional 756 shares during the period. Finally, Glenmede Trust Co. NA raised its holdings in Privia Health Group by 0.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 107,711 shares of the company’s stock worth $2,477,000 after purchasing an additional 976 shares in the last quarter. Hedge funds and other institutional investors own 94.48% of the company’s stock.

About Privia Health Group

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.