Summit Global Investments Buys 24,670 Shares of Privia Health Group, Inc. $PRVA

Summit Global Investments raised its position in shares of Privia Health Group, Inc. (NASDAQ:PRVA) by 273.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,677 shares of the company’s stock after acquiring an additional 24,670 shares during the period. Summit Global Investments’ holdings in Privia Health Group were worth $839,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. State Street Corp boosted its stake in Privia Health Group by 1.5% in the 2nd quarter. State Street Corp now owns 4,171,069 shares of the company’s stock valued at $95,935,000 after purchasing an additional 61,853 shares during the period. Geode Capital Management LLC boosted its position in shares of Privia Health Group by 6.3% in the second quarter. Geode Capital Management LLC now owns 2,655,569 shares of the company’s stock valued at $61,086,000 after acquiring an additional 158,521 shares during the period. Franklin Resources Inc. grew its stake in shares of Privia Health Group by 1.6% in the second quarter. Franklin Resources Inc. now owns 1,340,398 shares of the company’s stock valued at $30,829,000 after acquiring an additional 21,649 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in shares of Privia Health Group by 93.3% in the second quarter. Qube Research & Technologies Ltd now owns 609,278 shares of the company’s stock valued at $14,013,000 after acquiring an additional 294,101 shares in the last quarter. Finally, Invesco Ltd. increased its position in Privia Health Group by 4.6% during the second quarter. Invesco Ltd. now owns 407,899 shares of the company’s stock worth $9,382,000 after acquiring an additional 18,115 shares during the period. Institutional investors own 94.48% of the company’s stock.

Wall Street Analysts Forecast Growth

PRVA has been the topic of a number of analyst reports. BMO Capital Markets began coverage on shares of Privia Health Group in a research report on Thursday, November 13th. They set an “outperform” rating and a $30.00 target price on the stock. Stephens reissued an “overweight” rating and set a $32.00 price target on shares of Privia Health Group in a research report on Thursday, December 4th. Royal Bank Of Canada began coverage on Privia Health Group in a report on Friday, January 9th. They issued an “outperform” rating and a $31.00 price objective for the company. Citigroup reissued a “market outperform” rating on shares of Privia Health Group in a report on Tuesday, January 6th. Finally, Canaccord Genuity Group upped their price objective on shares of Privia Health Group from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.50.

Insider Activity

In related news, CFO David Mountcastle sold 23,887 shares of the firm’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 transaction of $597,891.61. Following the completion of the sale, the chief financial officer owned 172,909 shares of the company’s stock, valued at $4,327,912.27. This trade represents a 12.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Matthew Shawn Morris sold 13,647 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $25.01, for a total transaction of $341,311.47. Following the sale, the director directly owned 68,188 shares of the company’s stock, valued at approximately $1,705,381.88. This trade represents a 16.68% decrease in their position. The SEC filing for this sale provides additional information. 10.70% of the stock is owned by corporate insiders.

Privia Health Group Stock Up 1.5%

NASDAQ PRVA opened at $23.22 on Friday. Privia Health Group, Inc. has a twelve month low of $18.77 and a twelve month high of $26.51. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of 178.63, a PEG ratio of 1.61 and a beta of 0.83. The stock has a fifty day simple moving average of $23.83 and a 200 day simple moving average of $23.13.

Privia Health Group (NASDAQ:PRVA) last announced its earnings results on Thursday, November 6th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.23. The business had revenue of $580.42 million during the quarter, compared to the consensus estimate of $494.98 million. Privia Health Group had a net margin of 0.89% and a return on equity of 2.52%. Privia Health Group’s quarterly revenue was up 32.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.20 earnings per share. Research analysts expect that Privia Health Group, Inc. will post 0.14 earnings per share for the current fiscal year.

Privia Health Group Company 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.