Privia Health Group, Inc. $PRVA Stock: Riverbridge Partners LLC Lowers Position

Riverbridge Partners LLC cut its position in shares of Privia Health Group, Inc. (NASDAQ:PRVA) by 3.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,895,288 shares of the company’s stock after selling 103,309 shares during the quarter. Privia Health Group makes up 1.7% of Riverbridge Partners LLC’s investment portfolio, making the stock its 18th largest position. Riverbridge Partners LLC owned about 2.27% of Privia Health Group worth $57,008,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Illinois Municipal Retirement Fund raised its holdings in Privia Health Group by 5.8% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 60,639 shares of the company’s stock valued at $1,194,000 after acquiring an additional 3,316 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Privia Health Group by 313.7% during the 3rd quarter. Parallel Advisors LLC now owns 2,180 shares of the company’s stock worth $43,000 after purchasing an additional 1,653 shares during the period. CenterBook Partners LP purchased a new position in shares of Privia Health Group during the 3rd quarter worth $1,152,000. Heritage Family Offices LLP purchased a new position in shares of Privia Health Group during the 3rd quarter worth $34,000. Finally, Legacies Wealth LLC acquired a new stake in shares of Privia Health Group during the third quarter worth $57,000. Institutional investors and hedge funds own 94.48% of the company’s stock.

Privia Health Group Stock Performance

Shares of PRVA stock opened at $24.37 on Wednesday. Privia Health Group, Inc. has a one year low of $18.92 and a one year high of $28.82. The company has a 50 day moving average price of $21.20 and a 200 day moving average price of $22.64. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of 93.73 and a beta of 0.76.

Privia Health Group (NASDAQ:PRVA) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.12. The company had revenue of $656.96 million for the quarter, compared to analyst estimates of $610.72 million. Privia Health Group had a net margin of 1.43% and a return on equity of 4.20%. Privia Health Group’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter last year, the business earned $0.29 EPS. As a group, equities analysts forecast that Privia Health Group, Inc. will post 0.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Canaccord Genuity Group lifted their price objective on Privia Health Group from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, November 6th. Zacks Research upgraded Privia Health Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 5th. Piper Sandler increased their target price on Privia Health Group from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Friday, November 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Privia Health Group in a research note on Tuesday, September 29th. Finally, Citigroup restated a “buy” rating on shares of Privia Health Group in a report on Thursday, July 23rd. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.25.

Privia Health Group Profile

Privia Health Group, Inc. is a physician enablement company that partners with independent medical groups, health systems and other providers. Its technology-enabled platform is designed to help physicians manage their practices and deliver coordinated care, while retaining their clinical independence. The company provides practice management, technology, care coordination and population health services. It also helps providers participate in value-based care arrangements, which tie payments more closely to the quality and efficiency of care.