Riverbridge Partners LLC Has $115.38 Million Position in Privia Health Group, Inc. $PRVA

Riverbridge Partners LLC decreased its holdings in shares of Privia Health Group, Inc. (NASDAQ:PRVA) by 6.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,633,867 shares of the company’s stock after selling 314,004 shares during the quarter. Privia Health Group accounts for approximately 1.9% of Riverbridge Partners LLC’s holdings, making the stock its 15th biggest position. Riverbridge Partners LLC owned approximately 3.78% of Privia Health Group worth $115,383,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PRVA. Invesco Ltd. increased its holdings in shares of Privia Health Group by 4.3% in the 1st quarter. Invesco Ltd. now owns 389,784 shares of the company’s stock valued at $8,751,000 after purchasing an additional 15,945 shares during the period. Russell Investments Group Ltd. grew its position in Privia Health Group by 2,852.2% during the first quarter. Russell Investments Group Ltd. now owns 2,657 shares of the company’s stock valued at $60,000 after purchasing an additional 2,567 shares in the last quarter. Northern Trust Corp increased its stake in Privia Health Group by 2.2% in the 1st quarter. Northern Trust Corp now owns 1,423,865 shares of the company’s stock valued at $31,966,000 after buying an additional 31,224 shares during the period. Quantbot Technologies LP lifted its position in Privia Health Group by 71.9% in the 1st quarter. Quantbot Technologies LP now owns 38,386 shares of the company’s stock worth $862,000 after buying an additional 16,055 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of Privia Health Group by 55.5% during the 1st quarter. Hsbc Holdings PLC now owns 67,192 shares of the company’s stock valued at $1,493,000 after buying an additional 23,983 shares during the period. 94.48% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Privia Health Group

In related news, Director Matthew Shawn Morris sold 13,647 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $25.01, for a total transaction of $341,311.47. Following the completion of the transaction, the director owned 68,188 shares of the company’s stock, valued at approximately $1,705,381.88. The trade was a 16.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David Mountcastle sold 23,887 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $25.03, for a total value of $597,891.61. Following the transaction, the chief financial officer owned 172,909 shares of the company’s stock, valued at approximately $4,327,912.27. This trade represents a 12.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 10.70% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on PRVA shares. JMP Securities lifted their price objective on Privia Health Group from $29.00 to $30.00 and gave the company a “market outperform” rating in a research report on Friday, August 29th. BMO Capital Markets initiated coverage on Privia Health Group in a report on Thursday, November 13th. They set an “outperform” rating and a $30.00 price target for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Privia Health Group in a research note on Monday, December 15th. Canaccord Genuity Group raised their price objective on shares of Privia Health Group from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Finally, Barclays lifted their target price on shares of Privia Health Group from $22.00 to $23.00 and gave the company an “equal weight” rating in a research note on Monday, November 10th. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.42.

Privia Health Group Stock Down 1.3%

Shares of Privia Health Group stock opened at $23.64 on Monday. Privia Health Group, Inc. has a 12-month low of $18.77 and a 12-month high of $26.51. The stock has a 50 day moving average price of $24.42 and a two-hundred day moving average price of $22.83. The stock has a market capitalization of $2.91 billion, a P/E ratio of 181.86, a PEG ratio of 4.03 and a beta of 0.83.

Privia Health Group (NASDAQ:PRVA) last posted its quarterly earnings data on Tuesday, June 7th. The company reported $0.10 earnings per share (EPS) for the quarter. The business had revenue of $213.61 million during the quarter. Privia Health Group had a net margin of 0.89% and a return on equity of 2.52%. Sell-side analysts anticipate that Privia Health Group, Inc. will post 0.14 earnings per share for the current 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.