Privia Health Group (NASDAQ:PRVA) Upgraded to “Strong-Buy” by KeyCorp

KeyCorp upgraded shares of Privia Health Group (NASDAQ:PRVA) to a strong-buy rating in a report published on Thursday, Zacks.com reports.

A number of other brokerages have also issued reports on PRVA. Evercore ISI decreased their target price on shares of Privia Health Group from $23.00 to $20.00 and set an outperform rating for the company in a research note on Tuesday, July 9th. Robert W. Baird boosted their target price on Privia Health Group from $23.00 to $24.00 and gave the company an outperform rating in a research note on Monday, August 26th. Finally, Royal Bank of Canada reaffirmed an outperform rating and set a $28.00 price target on shares of Privia Health Group in a research note on Wednesday, August 14th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of Buy and a consensus price target of $24.73.

Privia Health Group Stock Performance

NASDAQ PRVA opened at $17.55 on Thursday. The firm’s 50 day moving average price is $18.90 and its two-hundred day moving average price is $18.35. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 117.00, a PEG ratio of 3.93 and a beta of 0.76. Privia Health Group has a twelve month low of $15.92 and a twelve month high of $24.35.

Privia Health Group (NASDAQ:PRVA) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). Privia Health Group had a net margin of 0.88% and a return on equity of 2.42%. The business had revenue of $422.30 million for the quarter, compared to analyst estimates of $411.50 million. During the same period in the previous year, the firm posted $0.06 earnings per share. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. On average, research analysts forecast that Privia Health Group will post 0.16 EPS for the current fiscal year.

Insider Activity

In other Privia Health Group news, CEO Parth Mehrotra sold 135,142 shares of Privia Health Group stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $18.50, for a total transaction of $2,500,127.00. Following the sale, the chief executive officer now owns 247,771 shares in the company, valued at $4,583,763.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 14.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Privia Health Group

Institutional investors have recently added to or reduced their stakes in the stock. First Light Asset Management LLC bought a new stake in shares of Privia Health Group in the 1st quarter worth about $21,620,000. Millennium Management LLC raised its stake in shares of Privia Health Group by 2,994.2% in the second quarter. Millennium Management LLC now owns 1,138,526 shares of the company’s stock valued at $19,788,000 after acquiring an additional 1,101,730 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Privia Health Group by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 11,278,334 shares of the company’s stock worth $259,740,000 after acquiring an additional 274,345 shares in the last quarter. BlackBarn Capital Partners LP grew its position in Privia Health Group by 100.0% during the 2nd quarter. BlackBarn Capital Partners LP now owns 400,000 shares of the company’s stock worth $6,952,000 after acquiring an additional 200,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Privia Health Group by 18.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,118,619 shares of the company’s stock valued at $19,441,000 after purchasing an additional 173,934 shares in the last quarter. 94.48% of the stock is owned by institutional investors and hedge funds.

Privia Health Group Company Profile

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.