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

by · The Markets Daily

Privia Health Group, Inc. (NASDAQ:PRVAGet Free Report) has earned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $31.1538.

Several research firms have commented on PRVA. Zacks Research downgraded shares of Privia Health Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Evercore set a $26.00 price objective on shares of Privia Health Group in a research note on Wednesday, April 8th. Canaccord Genuity Group reduced their target price on shares of Privia Health Group from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Weiss Ratings upgraded shares of Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 2nd. Finally, Barclays lowered their price target on shares of Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 26th.

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Privia Health Group Price Performance

NASDAQ PRVA traded down $0.28 during trading on Friday, reaching $27.49. The company’s stock had a trading volume of 820,543 shares, compared to its average volume of 1,167,330. The firm has a fifty day moving average of $23.76 and a 200 day moving average of $23.14. Privia Health Group has a one year low of $18.77 and a one year high of $27.86. The stock has a market capitalization of $3.46 billion, a PE ratio of 171.82, a P/E/G ratio of 2.17 and a beta of 0.83.

Key Headlines Impacting Privia Health Group

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

Insider Transactions at Privia Health Group

In related news, Director Matthew Shawn Morris sold 88,110 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $25.33, for a total transaction of $2,231,826.30. Following the transaction, the director directly owned 76,651 shares in the company, valued at $1,941,569.83. This trade represents a 53.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Mountcastle sold 24,734 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $27.50, for a total value of $680,185.00. Following the transaction, the chief financial officer owned 186,728 shares in the company, valued at approximately $5,135,020. The trade was a 11.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 457,580 shares of company stock worth $11,510,429. Company insiders own 5.70% of the company’s stock.

Institutional Trading of Privia Health Group

Institutional investors have recently made changes to their positions in the stock. ArrowMark Colorado Holdings LLC increased its stake in shares of Privia Health Group by 139.4% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 841,266 shares of the company’s stock worth $19,946,000 after buying an additional 489,866 shares during the period. Algert Global LLC boosted its position in Privia Health Group by 277.4% during the 3rd quarter. Algert Global LLC now owns 484,304 shares of the company’s stock valued at $12,059,000 after buying an additional 355,966 shares during the period. Freestone Grove Partners LP grew its holdings in Privia Health Group by 40.6% in the 4th quarter. Freestone Grove Partners LP now owns 1,213,342 shares of the company’s stock worth $28,768,000 after acquiring an additional 350,194 shares during the last quarter. Renaissance Group LLC bought a new stake in Privia Health Group in the 4th quarter worth $7,776,000. Finally, Qube Research & Technologies Ltd increased its position in shares of Privia Health Group by 93.3% in the second quarter. Qube Research & Technologies Ltd now owns 609,278 shares of the company’s stock valued at $14,013,000 after acquiring an additional 294,101 shares during the period. Hedge funds and other institutional investors own 94.48% of the company’s stock.

About Privia Health Group

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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.

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