Voya Investment Management LLC Reduces Stock Position in Privia Health Group, Inc. $PRVA

Voya Investment Management LLC cut its stake in shares of Privia Health Group, Inc. (NASDAQ:PRVA) by 40.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 49,078 shares of the company’s stock after selling 33,176 shares during the quarter. Voya Investment Management LLC’s holdings in Privia Health Group were worth $1,222,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Privia Health Group by 180.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,633,040 shares of the company’s stock worth $59,112,000 after acquiring an additional 1,693,870 shares during the period. Qube Research & Technologies Ltd boosted its position in Privia Health Group by 93.3% in the second quarter. Qube Research & Technologies Ltd now owns 609,278 shares of the company’s stock worth $14,013,000 after purchasing an additional 294,101 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Privia Health Group during the 2nd quarter valued at about $6,219,000. First Trust Advisors LP lifted its stake in shares of Privia Health Group by 482.7% in the 2nd quarter. First Trust Advisors LP now owns 279,005 shares of the company’s stock worth $6,417,000 after purchasing an additional 231,125 shares during the period. Finally, Advantage Alpha Capital Partners LP bought a new position in shares of Privia Health Group in the 2nd quarter worth approximately $3,941,000. 94.48% of the stock is owned by institutional investors.

Insider Activity at Privia Health Group

In other news, CFO David Mountcastle sold 23,887 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $25.03, for a total transaction of $597,891.61. Following the completion of the transaction, the chief financial officer directly owned 172,909 shares in the company, valued at approximately $4,327,912.27. This represents a 12.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew Shawn Morris sold 13,647 shares of the business’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $25.01, for a total transaction of $341,311.47. Following the completion of the sale, the director owned 68,188 shares in the company, valued at $1,705,381.88. This represents a 16.68% decrease in their position. The disclosure for this sale is available in the SEC filing. 10.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Canaccord Genuity Group boosted their target price on shares of Privia Health Group from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Citizens Jmp lifted their price target on shares of Privia Health Group from $30.00 to $31.00 and gave the stock a “market outperform” rating in a research note on Friday, November 7th. Evercore ISI upped their price objective on Privia Health Group from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Truist Financial reaffirmed a “buy” rating and issued a $31.00 target price (up from $30.00) on shares of Privia Health Group in a report on Monday, November 10th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Privia Health Group in a report on Monday. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Privia Health Group presently has a consensus rating of “Moderate Buy” and an average price target of $30.42.

Privia Health Group Price Performance

NASDAQ PRVA opened at $23.86 on Wednesday. The business has a 50-day moving average price of $24.23 and a 200-day moving average price of $22.88. Privia Health Group, Inc. has a twelve month low of $18.77 and a twelve month high of $26.51. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of 183.55, a price-to-earnings-growth ratio of 4.07 and a beta of 0.83.

Privia Health Group (NASDAQ:PRVA) last announced its quarterly earnings data on Tuesday, June 7th. The company reported $0.10 earnings per share (EPS) for the quarter. Privia Health Group had a net margin of 0.89% and a return on equity of 2.52%. The business had revenue of $213.61 million during the quarter. Research analysts expect that Privia Health Group, Inc. will post 0.14 EPS for the current fiscal year.

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.