Jupiter Topco LLC Makes New $1.13 Million Investment in Privia Health Group, Inc. $PRVA

Jupiter Topco LLC acquired a new stake in Privia Health Group, Inc. (NASDAQ:PRVA) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 44,085 shares of the company’s stock, valued at approximately $1,134,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Privia Health Group during the 2nd quarter valued at $550,684,000. Rubicon Founders LLC bought a new stake in Privia Health Group in the 2nd quarter worth $153,635,863. Bank of New York Mellon Corp bought a new stake in Privia Health Group in the 2nd quarter worth $74,425,000. ArrowMark Colorado Holdings LLC increased its position 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 valued at $19,946,000 after acquiring an additional 489,866 shares during the period. Finally, Freestone Grove Partners LP raised its stake in shares of Privia Health Group by 40.6% during the fourth quarter. Freestone Grove Partners LP now owns 1,213,342 shares of the company’s stock valued at $28,768,000 after acquiring an additional 350,194 shares during the last quarter. Institutional investors own 94.48% of the company’s stock.

Insider Activity at Privia Health Group

In other news, Director Matthew Morris sold 88,110 shares of the business’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 value of $2,231,826.30. Following the sale, the director directly owned 76,651 shares of the company’s stock, valued at $1,941,569.83. The trade was a 53.48% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 company’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 completion of the sale, the chief financial officer owned 186,728 shares in the company, valued at $5,135,020. The trade was a 11.70% decrease in their position. 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. Insiders have sold 327,886 shares of company stock valued at $8,628,256 over the last quarter. Company insiders own 5.70% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on PRVA. Zacks Research upgraded shares of Privia Health Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. Barclays reduced their price target on Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 26th. Citigroup reiterated a “buy” rating on shares of Privia Health Group in a report on Thursday, July 23rd. Weiss Ratings upgraded Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 2nd. Finally, Canaccord Genuity Group set a $32.00 target price on Privia Health Group in a research note on Friday, August 7th. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Privia Health Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Privia Health Group Price Performance

NASDAQ:PRVA opened at $20.66 on Friday. The firm’s 50-day moving average price is $23.96 and its 200-day moving average price is $23.14. The company has a market capitalization of $2.64 billion, a PE ratio of 98.39, a P/E/G ratio of 1.63 and a beta of 0.87. Privia Health Group, Inc. has a 1-year low of $19.53 and a 1-year high of $28.82.

Privia Health Group (NASDAQ:PRVA) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.12. The company had revenue of $632.63 million during the quarter, compared to analysts’ expectations of $597.33 million. Privia Health Group had a net margin of 1.19% and a return on equity of 3.52%. Privia Health Group’s revenue was up 21.4% on a year-over-year basis. During the same period last year, the company posted $0.24 EPS. Equities analysts anticipate that Privia Health Group, Inc. will post 0.27 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.