Privia Health Group (NASDAQ:PRVA) Coverage Initiated at KeyCorp

KeyCorp started coverage on shares of Privia Health Group (NASDAQ:PRVA) in a report released on Friday morning, Marketbeat Ratings reports. The firm issued an overweight rating and a $23.00 target price on the stock.

Other equities analysts have also issued reports about the company. Robert W. Baird upped their target price on Privia Health Group from $23.00 to $24.00 and gave the company an outperform rating in a report on Monday, August 26th. Evercore ISI decreased their target price on Privia Health Group from $23.00 to $20.00 and set an outperform rating for the company in a research report on Tuesday, July 9th. Finally, Royal Bank of Canada reissued an outperform rating and issued a $28.00 price target on shares of Privia Health Group in a report on Wednesday, August 14th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Privia Health Group has an average rating of Buy and an average target price of $24.73.

Privia Health Group Stock Performance

Shares of NASDAQ PRVA opened at $17.55 on Friday. 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 fifty-two week low of $15.92 and a fifty-two week high of $24.35. The firm’s 50-day simple moving average is $18.90 and its 200 day simple moving average is $18.34.

Privia Health Group (NASDAQ:PRVA) last issued its quarterly earnings data 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 company had revenue of $422.30 million for the quarter, compared to the consensus estimate of $411.50 million. During the same quarter last year, the business posted $0.06 earnings per share. Privia Health Group’s revenue was up 2.2% on a year-over-year basis. On average, sell-side analysts predict that Privia Health Group will post 0.16 EPS for the current year.

Insider Activity

In related news, CEO Parth Mehrotra sold 135,142 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was 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 directly owns 247,771 shares in the company, valued at approximately $4,583,763.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 14.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Privia Health Group

A number of large investors have recently modified their holdings of PRVA. Canada Pension Plan Investment Board bought a new stake in Privia Health Group during the 2nd quarter worth approximately $26,000. GAMMA Investing LLC grew its position in shares of Privia Health Group by 98.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,701 shares of the company’s stock valued at $31,000 after purchasing an additional 845 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Privia Health Group by 107.5% in the second quarter. Nisa Investment Advisors LLC now owns 1,795 shares of the company’s stock worth $31,000 after purchasing an additional 930 shares during the period. Signaturefd LLC increased its holdings in shares of Privia Health Group by 46.3% in the second quarter. Signaturefd LLC now owns 1,978 shares of the company’s stock worth $34,000 after purchasing an additional 626 shares during the period. Finally, Park Place Capital Corp boosted its stake in Privia Health Group by 115.4% during the first quarter. Park Place Capital Corp now owns 2,492 shares of the company’s stock valued at $49,000 after buying an additional 1,335 shares during the period. 94.48% of the stock is currently owned by institutional investors.

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.