Weiss Asset Management LP Makes New $553,000 Investment in Privia Health Group, Inc. $PRVA

Weiss Asset Management LP bought a new stake in shares of Privia Health Group, Inc. (NASDAQ:PRVA) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 26,900 shares of the company’s stock, valued at approximately $553,000.

A number of other institutional investors and hedge funds also recently modified their holdings of PRVA. Bayban bought a new position in shares of Privia Health Group in the 4th quarter worth about $26,000. Hantz Financial Services Inc. grew its position in shares of Privia Health Group by 456.2% during the 4th quarter. Hantz Financial Services Inc. now owns 1,129 shares of the company’s stock valued at $27,000 after buying an additional 926 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of Privia Health Group by 579.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,584 shares of the company’s stock valued at $38,000 after buying an additional 1,351 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Privia Health Group by 48.0% during the second quarter. Canada Pension Plan Investment Board now owns 3,700 shares of the company’s stock worth $85,000 after acquiring an additional 1,200 shares during the period. Finally, Kestra Advisory Services LLC bought a new position in Privia Health Group in the fourth quarter worth about $93,000. 94.48% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Matthew Shawn Morris sold 88,110 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $25.33, for a total value of $2,231,826.30. Following the completion of the transaction, the director directly owned 76,651 shares of the company’s stock, valued at $1,941,569.83. This represents a 53.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Parth Mehrotra sold 105,439 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 450,004 shares in the company, valued at approximately $10,147,590.20. This represents a 18.98% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 478,855 shares of company stock worth $12,099,109. Insiders own 5.70% of the company’s stock.

Privia Health Group Stock Down 3.3%

Shares of NASDAQ:PRVA opened at $24.67 on Tuesday. The company has a market cap of $3.11 billion, a PE ratio of 154.20, a P/E/G ratio of 2.02 and a beta of 0.83. The company’s 50-day moving average price is $24.42 and its 200 day moving average price is $23.33. Privia Health Group, Inc. has a fifty-two week low of $18.77 and a fifty-two week high of $28.82.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PRVA shares. Citigroup restated a “buy” rating on shares of Privia Health Group in a research note on Thursday. Weiss Ratings raised Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 2nd. Barclays cut their price target on Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 26th. Canaccord Genuity Group reduced their price objective on Privia Health Group from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Finally, Evercore set a $26.00 price objective on Privia Health Group in a research note on Wednesday, April 8th. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Privia Health Group has an average rating of “Moderate Buy” and an average target price of $31.15.

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.