Hsbc Holdings PLC Makes New $2.60 Million Investment in Privia Health Group, Inc. $PRVA

Hsbc Holdings PLC purchased a new position in shares of Privia Health Group, Inc. (NASDAQ:PRVA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 100,213 shares of the company’s stock, valued at approximately $2,602,000.

Several other institutional investors have also recently made changes to their positions in PRVA. PDT Partners LLC bought a new stake in shares of Privia Health Group in the second quarter valued at about $4,651,000. Canada Pension Plan Investment Board bought a new position in Privia Health Group during the 2nd quarter worth about $391,000. Rubicon Founders LLC bought a new position in Privia Health Group during the 2nd quarter worth about $153,635,863. Legal & General Group Plc purchased a new position in Privia Health Group during the 2nd quarter valued at about $6,605,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Privia Health Group in the 2nd quarter valued at about $1,503,000. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Insider Activity at Privia Health Group

In other Privia Health Group news, CFO David Mountcastle sold 21,275 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $27.67, for a total value of $588,679.25. Following the completion of the sale, the chief financial officer directly owned 164,853 shares in the company, valued at $4,561,482.51. This trade represents a 11.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Shawn Morris sold 53,722 shares of Privia Health Group stock in a transaction on Monday, July 6th. The stock was sold at an average price of $27.24, for a total transaction of $1,463,387.28. Following the completion of the transaction, the director directly owned 68,188 shares in the company, valued at $1,857,441.12. This represents a 44.07% 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. Over the last 90 days, insiders sold 327,886 shares of company stock valued at $8,628,256. 5.70% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on PRVA. Zacks Research raised shares of Privia Health Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 5th. Weiss Ratings raised shares of Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 2nd. Canaccord Genuity Group set a $32.00 price objective on shares of Privia Health Group in a research note on Friday, August 7th. Citigroup restated a “buy” rating on shares of Privia Health Group in a report on Thursday, July 23rd. Finally, Barclays dropped their target price on Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

Privia Health Group Stock Performance

PRVA stock opened at $20.79 on Monday. Privia Health Group, Inc. has a one year low of $19.53 and a one year high of $28.82. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 99.00, a PEG ratio of 1.64 and a beta of 0.85. The firm has a 50-day simple moving average of $24.33 and a two-hundred day simple moving average of $23.19.

Privia Health Group (NASDAQ:PRVA) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.12. The firm had revenue of $632.63 million for the quarter, compared to the consensus estimate of $597.33 million. Privia Health Group had a net margin of 1.19% and a return on equity of 3.52%. The company’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 EPS. As a group, equities analysts predict that Privia Health Group, Inc. will post 0.27 earnings per share for the current fiscal year.

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.