Wellington Management Group LLP Purchases 1,906,187 Shares of Privia Health Group, Inc. $PRVA

Wellington Management Group LLP increased its holdings in shares of Privia Health Group, Inc. (NASDAQ:PRVA) by 850.6% in the second quarter, HoldingsChannel reports. The firm owned 2,130,289 shares of the company’s stock after buying an additional 1,906,187 shares during the period. Wellington Management Group LLP’s holdings in Privia Health Group were worth $54,812,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Royal Bank of Canada lifted its position in shares of Privia Health Group by 63.5% in the first quarter. Royal Bank of Canada now owns 245,633 shares of the company’s stock valued at $5,514,000 after buying an additional 95,371 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Privia Health Group by 24.7% during the 1st quarter. AQR Capital Management LLC now owns 40,781 shares of the company’s stock worth $916,000 after acquiring an additional 8,068 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Privia Health Group by 3.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 118,764 shares of the company’s stock worth $2,666,000 after acquiring an additional 3,714 shares during the last quarter. Intech Investment Management LLC raised its stake in Privia Health Group by 55.1% in the 1st quarter. Intech Investment Management LLC now owns 56,553 shares of the company’s stock valued at $1,270,000 after acquiring an additional 20,082 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in Privia Health Group during the 1st quarter valued at $154,000. Institutional investors and hedge funds own 94.48% of the company’s stock.

Insiders Place Their Bets

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

Privia Health Group Trading Down 0.2%

PRVA opened at $20.67 on Friday. The company’s 50 day moving average is $24.06 and its 200-day moving average is $23.16. Privia Health Group, Inc. has a 1-year low of $19.53 and a 1-year high of $28.82. The company has a market cap of $2.64 billion, a P/E ratio of 98.43, a PEG ratio of 1.63 and a beta of 0.87.

Privia Health Group (NASDAQ:PRVA) last released 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 business had revenue of $632.63 million during the quarter, compared to analysts’ expectations of $597.33 million. Privia Health Group had a net margin of 1.19% and a return on equity of 3.52%. The firm’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.24 EPS. On average, equities analysts forecast that Privia Health Group, Inc. will post 0.27 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. 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. Barclays reduced their price target on Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 26th. Canaccord Genuity Group set a $32.00 target price on shares of Privia Health Group in a research report on Friday, August 7th. Citigroup reissued a “buy” rating on shares of Privia Health Group in a research report on Thursday, July 23rd. Finally, Weiss Ratings raised shares of Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 2nd. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.00.

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.