Summit Global Investments Invests $796,000 in Privia Health Group, Inc. $PRVA

Summit Global Investments bought a new stake in shares of Privia Health Group, Inc. (NASDAQ:PRVA) during the second quarter, Holdings Channel.com reports. The fund bought 30,919 shares of the company’s stock, valued at approximately $796,000.

Several other hedge funds and other institutional investors also recently modified their holdings of PRVA. Oppenheimer Asset Management Inc. purchased a new position in shares of Privia Health Group during the second quarter valued at about $5,841,000. Handelsbanken Fonder AB lifted its holdings in Privia Health Group by 25.3% in the second quarter. Handelsbanken Fonder AB now owns 27,200 shares of the company’s stock worth $700,000 after buying an additional 5,500 shares during the period. GAMMA Investing LLC boosted its position in Privia Health Group by 14.0% during the 2nd quarter. GAMMA Investing LLC now owns 4,819 shares of the company’s stock valued at $124,000 after acquiring an additional 592 shares in the last quarter. Harbor Investment Advisory LLC bought a new stake in Privia Health Group during the 2nd quarter valued at approximately $69,000. Finally, Central Pacific Bank Trust Division grew its holdings in shares of Privia Health Group by 456.5% during the 2nd quarter. Central Pacific Bank Trust Division now owns 7,001 shares of the company’s stock worth $180,000 after acquiring an additional 5,743 shares during the period. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Insider Buying and Selling at Privia Health Group

In related news, CFO David Mountcastle sold 24,734 shares of the stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $27.50, for a total transaction of $680,185.00. Following the sale, the chief financial officer directly owned 186,728 shares of the company’s stock, valued at approximately $5,135,020. This represents a 11.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Shawn Morris sold 88,110 shares of the firm’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $25.33, for a total transaction of $2,231,826.30. Following the sale, the director owned 76,651 shares of the company’s stock, valued at approximately $1,941,569.83. This represents a 53.48% 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. Insiders have sold 327,886 shares of company stock valued at $8,628,256 over the last 90 days. Corporate insiders own 5.70% of the company’s stock.

Privia Health Group Stock Up 1.1%

PRVA stock opened at $22.00 on Friday. The business has a 50 day moving average of $24.71 and a 200 day moving average of $23.29. The firm has a market cap of $2.81 billion, a PE ratio of 104.77, a price-to-earnings-growth ratio of 1.75 and a beta of 0.85. Privia Health Group, Inc. has a twelve month low of $19.53 and a twelve month high of $28.82.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Canaccord Genuity Group set a $32.00 target price on Privia Health Group in a research note on Friday, August 7th. Citigroup reaffirmed a “buy” rating on shares of Privia Health Group in a research note on Thursday, July 23rd. Weiss Ratings raised Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 2nd. Barclays dropped their target price on shares of 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. Finally, 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. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.00.

Privia Health Group 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.