Renaissance Group LLC Invests $7.78 Million in Privia Health Group, Inc. $PRVA

Renaissance Group LLC acquired a new position in Privia Health Group, Inc. (NASDAQ:PRVA) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 327,970 shares of the company’s stock, valued at approximately $7,776,000.

Several other large investors have also recently made changes to their positions in PRVA. Vanguard Group Inc. lifted its holdings in shares of Privia Health Group by 5.3% in the 3rd quarter. Vanguard Group Inc. now owns 12,098,933 shares of the company’s stock worth $301,263,000 after acquiring an additional 607,447 shares during the last quarter. Algert Global LLC lifted its holdings in shares of Privia Health Group by 277.4% in the 3rd quarter. Algert Global LLC now owns 484,304 shares of the company’s stock worth $12,059,000 after acquiring an additional 355,966 shares during the last quarter. ArrowMark Colorado Holdings LLC acquired a new position in shares of Privia Health Group in the 3rd quarter worth approximately $8,750,000. Freestone Grove Partners LP lifted its holdings in shares of Privia Health Group by 59.6% in the 3rd quarter. Freestone Grove Partners LP now owns 863,148 shares of the company’s stock worth $21,492,000 after acquiring an additional 322,426 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its holdings in shares of Privia Health Group by 93.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 609,278 shares of the company’s stock worth $14,013,000 after acquiring an additional 294,101 shares during the last quarter. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Privia Health Group Trading Up 3.3%

Shares of NASDAQ:PRVA opened at $22.90 on Thursday. Privia Health Group, Inc. has a 52 week low of $18.77 and a 52 week high of $26.51. The company’s 50 day moving average is $22.76 and its two-hundred day moving average is $22.96. The company has a market cap of $2.89 billion, a PE ratio of 143.13, a P/E/G ratio of 1.60 and a beta of 0.90.

Privia Health Group (NASDAQ:PRVA) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.11. Privia Health Group had a net margin of 0.97% and a return on equity of 2.81%. The company had revenue of $603.85 million for the quarter, compared to the consensus estimate of $560.99 million. During the same period in the prior year, the firm posted $0.22 EPS. The company’s quarterly revenue was up 25.8% compared to the same quarter last year. As a group, equities research analysts expect that Privia Health Group, Inc. will post 0.29 EPS for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on PRVA. Evercore set a $26.00 target price on shares of Privia Health Group in a report on Wednesday, April 8th. Truist Financial increased their target price on shares of Privia Health Group from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Citigroup reduced their target price on shares of Privia Health Group from $34.00 to $32.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Piper Sandler reiterated an “overweight” rating and set a $36.00 target price on shares of Privia Health Group in a report on Thursday, February 26th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $32.00 target price on shares of Privia Health Group in a report on Thursday, February 26th. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $31.15.

Insider Buying and Selling at Privia Health Group

In other Privia Health Group news, CEO Parth Mehrotra sold 15,647 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $22.64, for a total value of $354,248.08. Following the sale, the chief executive officer directly owned 434,357 shares of the company’s stock, valued at approximately $9,833,842.48. This represents a 3.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Matthew Shawn Morris sold 1,017 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $24.96, for a total transaction of $25,384.32. Following the completion of the sale, the director directly owned 68,188 shares in the company, valued at approximately $1,701,972.48. This represents a 1.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 223,229 shares of company stock valued at $5,041,569. Insiders own 5.70% of the company’s stock.

About Privia Health Group

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.