Victory Capital Management Inc. Boosts Stake in Privia Health Group, Inc. (NASDAQ:PRVA)

Victory Capital Management Inc. increased its position in Privia Health Group, Inc. (NASDAQ:PRVA) by 5.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 35,603 shares of the company’s stock after purchasing an additional 1,966 shares during the period. Victory Capital Management Inc.’s holdings in Privia Health Group were worth $619,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Blair William & Co. IL raised its stake in Privia Health Group by 125.4% during the 1st quarter. Blair William & Co. IL now owns 51,564 shares of the company’s stock valued at $1,010,000 after acquiring an additional 28,689 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in Privia Health Group by 27.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 234,991 shares of the company’s stock worth $4,603,000 after purchasing an additional 50,042 shares during the period. Peregrine Capital Management LLC increased its position in Privia Health Group by 11.5% during the 2nd quarter. Peregrine Capital Management LLC now owns 314,190 shares of the company’s stock worth $5,461,000 after purchasing an additional 32,311 shares during the period. Vanguard Group Inc. increased its position in Privia Health Group by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 11,278,334 shares of the company’s stock worth $259,740,000 after purchasing an additional 274,345 shares during the period. Finally, FDx Advisors Inc. increased its position in Privia Health Group by 71.6% during the 1st quarter. FDx Advisors Inc. now owns 20,067 shares of the company’s stock worth $393,000 after purchasing an additional 8,374 shares during the period. 94.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Parth Mehrotra sold 135,142 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $18.50, for a total value of $2,500,127.00. Following the completion of the sale, the chief executive officer now directly owns 247,771 shares in the company, valued at approximately $4,583,763.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 14.20% of the company’s stock.

Analyst Upgrades and Downgrades

PRVA has been the topic of several recent analyst reports. Evercore ISI dropped their target price on Privia Health Group from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 9th. Baird R W upgraded Privia Health Group to a “strong-buy” rating in a report on Thursday, May 30th. Royal Bank of Canada restated an “outperform” rating and issued a $28.00 price target on shares of Privia Health Group in a report on Wednesday, August 14th. Finally, Robert W. Baird upped their price target on Privia Health Group from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Monday, August 26th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Privia Health Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.86.

Privia Health Group Stock Performance

Shares of NASDAQ:PRVA opened at $18.75 on Monday. The business’s fifty day moving average price is $19.55 and its two-hundred day moving average price is $18.68. The stock has a market cap of $2.24 billion, a PE ratio of 125.00, a price-to-earnings-growth ratio of 4.36 and a beta of 0.77. Privia Health Group, Inc. has a one year low of $15.92 and a one year high of $24.35.

Privia Health Group (NASDAQ:PRVA) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The business had revenue of $422.30 million for the quarter, compared to analysts’ expectations of $411.50 million. Privia Health Group had a return on equity of 2.42% and a net margin of 0.88%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 EPS. As a group, equities research analysts predict that Privia Health Group, Inc. will post 0.16 earnings per share for the current fiscal year.

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.