Sterling Capital Management LLC Reduces Stake in Privia Health Group, Inc. $PRVA

Sterling Capital Management LLC trimmed its holdings in Privia Health Group, Inc. (NASDAQ:PRVA) by 66.3% in the first quarter, HoldingsChannel.com reports. The firm owned 34,899 shares of the company’s stock after selling 68,534 shares during the quarter. Sterling Capital Management LLC’s holdings in Privia Health Group were worth $718,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PRVA. PNC Financial Services Group Inc. raised its holdings in Privia Health Group by 9.6% during the third quarter. PNC Financial Services Group Inc. now owns 7,731 shares of the company’s stock worth $193,000 after purchasing an additional 675 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Privia Health Group by 1.3% during the 4th quarter. State of Alaska Department of Revenue now owns 65,747 shares of the company’s stock worth $1,558,000 after acquiring an additional 823 shares in the last quarter. ProShare Advisors LLC raised its stake in Privia Health Group by 4.1% during the 4th quarter. ProShare Advisors LLC now owns 22,576 shares of the company’s stock worth $535,000 after acquiring an additional 898 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Privia Health Group by 5.9% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 16,250 shares of the company’s stock valued at $385,000 after acquiring an additional 903 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in Privia Health Group by 456.2% in the fourth quarter. Hantz Financial Services Inc. now owns 1,129 shares of the company’s stock valued at $27,000 after acquiring an additional 926 shares in the last quarter. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Privia Health Group Trading Up 4.5%

Privia Health Group stock opened at $26.88 on Thursday. The stock has a 50 day moving average of $23.31 and a two-hundred day moving average of $22.98. Privia Health Group, Inc. has a twelve month low of $18.77 and a twelve month high of $27.11. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 168.01, a PEG ratio of 2.04 and a beta of 0.83.

Privia Health Group (NASDAQ:PRVA) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.08 by $0.11. Privia Health Group had a return on equity of 2.81% and a net margin of 0.97%.The business had revenue of $603.85 million during the quarter, compared to analysts’ expectations of $560.99 million. During the same quarter in the prior year, the business earned $0.22 earnings per share. The company’s quarterly revenue was up 25.8% compared to the same quarter last year. Equities analysts predict that Privia Health Group, Inc. will post 0.27 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Parth Mehrotra sold 105,439 shares of Privia Health Group stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $22.55, for a total value of $2,377,649.45. Following the sale, the chief executive officer owned 450,004 shares of the company’s stock, valued at $10,147,590.20. The trade was a 18.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 88,110 shares of the business’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $25.33, for a total transaction of $2,231,826.30. Following the transaction, the director owned 76,651 shares in the company, valued at approximately $1,941,569.83. This trade represents a 53.48% decrease in their ownership of the stock. 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. In the last quarter, insiders sold 319,487 shares of company stock worth $7,736,834. 5.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on PRVA. Canaccord Genuity Group cut their target price on Privia Health Group from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Weiss Ratings lowered Privia Health Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. Evercore set a $26.00 price objective on Privia Health Group in a research note on Wednesday, April 8th. Finally, Barclays decreased their price objective on Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating for the company in a report on Tuesday, May 26th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.15.

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.