Key Points
- CEO Parth Mehrotra sold shares: Mehrotra sold 27,229 shares on March 13 and a total of 138,528 shares across recent trades (roughly $3.11M), reducing his ownership by 4.47% to 581,952 shares valued at about $12.52M.
- Earnings beat: Privia reported $0.25 EPS vs. $0.04 expected and revenue of $541.17M (up 17.4% year-over-year), topping analyst revenue estimates of $516.61M.
- Analyst and institutional backdrop: the stock carries an average "Moderate Buy" rating with a $31 target (13 Buys, 3 Holds), and institutional investors own about 94.48% of the shares, led by Vanguard and Durable Capital.
Privia Health Group, Inc. (NASDAQ:PRVA - Get Free Report) CFO David Mountcastle sold 6,565 shares of the business's stock in a transaction on Friday, March 13th. The stock was sold at an average price of $21.52, for a total value of $141,278.80. Following the transaction, the chief financial officer directly owned 226,804 shares of the company's stock, valued at $4,880,822.08. This trade represents a 2.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
David Mountcastle also recently made the following trade(s):
- On Thursday, March 12th, David Mountcastle sold 6,453 shares of Privia Health Group stock. The shares were sold at an average price of $21.90, for a total value of $141,320.70.
- On Monday, March 9th, David Mountcastle sold 5,829 shares of Privia Health Group stock. The shares were sold at an average price of $22.84, for a total value of $133,134.36.
- On Friday, March 6th, David Mountcastle sold 5,177 shares of Privia Health Group stock. The shares were sold at an average price of $23.15, for a total value of $119,847.55.
- On Thursday, February 26th, David Mountcastle sold 5,361 shares of Privia Health Group stock. The stock was sold at an average price of $25.00, for a total value of $134,025.00.
- On Friday, February 27th, David Mountcastle sold 7,697 shares of Privia Health Group stock. The stock was sold at an average price of $25.05, for a total transaction of $192,809.85.
Privia Health Group Trading Up 1.3%
PRVA opened at $21.96 on Tuesday. The company has a market cap of $2.72 billion, a P/E ratio of 129.18, a PEG ratio of 1.37 and a beta of 0.82. The company's 50 day moving average is $22.85 and its 200-day moving average is $23.62. Privia Health Group, Inc. has a 1-year low of $18.77 and a 1-year high of $26.51.
Privia Health Group (NASDAQ:PRVA - Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.21. The business had revenue of $541.17 million during the quarter, compared to analysts' expectations of $516.61 million. Privia Health Group had a net margin of 1.08% and a return on equity of 3.06%. The firm's quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.21 EPS. On average, equities analysts forecast that Privia Health Group, Inc. will post 0.14 EPS for the current year.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on PRVA. Piper Sandler reiterated an "overweight" rating and set a $36.00 price target on shares of Privia Health Group in a report on Thursday, February 26th. Weiss Ratings reissued a "hold (c)" rating on shares of Privia Health Group in a report on Monday, December 29th. Canaccord Genuity Group boosted their price objective on Privia Health Group from $34.00 to $35.00 and gave the stock a "buy" rating in a research report on Friday, February 27th. Royal Bank Of Canada started coverage on Privia Health Group in a report on Friday, January 9th. They issued an "outperform" rating and a $31.00 target price for the company. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $32.00 target price on shares of Privia Health Group in a research report on Thursday, February 26th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.00.
Get Our Latest Research Report on PRVA
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wealth Alliance LLC boosted its stake in shares of Privia Health Group by 4.4% in the 3rd quarter. Wealth Alliance LLC now owns 11,979 shares of the company's stock valued at $298,000 after purchasing an additional 508 shares during the last quarter. Arizona State Retirement System raised its stake in Privia Health Group by 1.9% during the third quarter. Arizona State Retirement System now owns 28,835 shares of the company's stock worth $718,000 after buying an additional 524 shares during the last quarter. Bank of Montreal Can lifted its holdings in Privia Health Group by 1.9% in the second quarter. Bank of Montreal Can now owns 28,694 shares of the company's stock valued at $660,000 after buying an additional 543 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in Privia Health Group by 1.1% in the third quarter. Illinois Municipal Retirement Fund now owns 55,501 shares of the company's stock valued at $1,382,000 after buying an additional 585 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position 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 valued at $193,000 after acquiring an additional 675 shares during the last quarter. Institutional investors and hedge funds own 94.48% of the company's stock.
Privia Health Group Company Profile
(
Get Free Report)
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.
Further Reading
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