Bank of New York Mellon Corp cut its stake in shares of Privia Health Group, Inc. (NASDAQ:PRVA – Get Rating) by 9.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 3,653,534 shares of the company’s stock after selling 361,606 shares during the period. Bank of New York Mellon Corp owned about 3.20% of Privia Health Group worth $124,439,000 at the end of the most recent quarter.
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A number of other large investors also recently added to or reduced their stakes in PRVA. ProShare Advisors LLC acquired a new position in Privia Health Group during the first quarter worth $210,000. JPMorgan Chase & Co. grew its holdings in shares of Privia Health Group by 60.3% during the first quarter. JPMorgan Chase & Co. now owns 33,839 shares of the company’s stock worth $905,000 after buying an additional 12,732 shares in the last quarter. US Bancorp DE grew its holdings in shares of Privia Health Group by 8.8% during the first quarter. US Bancorp DE now owns 13,923 shares of the company’s stock worth $372,000 after buying an additional 1,131 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of Privia Health Group by 200.9% during the first quarter. MetLife Investment Management LLC now owns 23,742 shares of the company’s stock worth $635,000 after buying an additional 15,852 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Privia Health Group by 124.7% during the first quarter. Rhumbline Advisers now owns 36,873 shares of the company’s stock worth $986,000 after buying an additional 20,464 shares in the last quarter. 66.83% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, EVP Thomas Bartrum sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 12th. The shares were sold at an average price of $25.39, for a total value of $380,850.00. Following the completion of the transaction, the executive vice president now owns 91,355 shares of the company’s stock, valued at $2,319,503.45. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director William M. Sullivan sold 12,115 shares of the firm’s stock in a transaction that occurred on Friday, December 23rd. The shares were sold at an average price of $23.39, for a total value of $283,369.85. Following the completion of the transaction, the director now owns 5,845,083 shares of the company’s stock, valued at $136,716,491.37. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Thomas Bartrum sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 12th. The shares were sold at an average price of $25.39, for a total transaction of $380,850.00. Following the completion of the transaction, the executive vice president now directly owns 91,355 shares of the company’s stock, valued at approximately $2,319,503.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 296,201 shares of company stock valued at $8,073,094. 57.60% of the stock is currently owned by company insiders.
Privia Health Group Price Performance
Shares of PRVA opened at $27.08 on Monday. Privia Health Group, Inc. has a 1-year low of $17.99 and a 1-year high of $44.64. The stock has a market cap of $3.11 billion, a PE ratio of -246.18, a P/E/G ratio of 5.24 and a beta of 0.79. The firm has a 50-day simple moving average of $26.62 and a two-hundred day simple moving average of $28.75.
Privia Health Group (NASDAQ:PRVA – Get Rating) last announced its quarterly earnings results on Tuesday, February 28th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.17. Privia Health Group had a negative net margin of 0.63% and a negative return on equity of 0.25%. The business had revenue of $364.42 million during the quarter, compared to analysts’ expectations of $337.16 million. As a group, sell-side analysts expect that Privia Health Group, Inc. will post 0.14 earnings per share for the current fiscal year.
Analyst Ratings Changes
PRVA has been the subject of a number of research reports. The Goldman Sachs Group initiated coverage on shares of Privia Health Group in a report on Friday, February 3rd. They set a “buy” rating and a $32.00 target price for the company. Credit Suisse Group reaffirmed an “outperform” rating and set a $41.00 target price on shares of Privia Health Group in a report on Tuesday, March 7th. UBS Group assumed coverage on shares of Privia Health Group in a report on Thursday, December 8th. They issued a “buy” rating and a $30.00 price objective for the company. Royal Bank of Canada assumed coverage on shares of Privia Health Group in a report on Thursday, March 9th. They issued an “outperform” rating and a $36.00 price objective for the company. Finally, Stifel Nicolaus assumed coverage on shares of Privia Health Group in a report on Thursday, December 8th. They issued a “buy” rating and a $28.00 price objective for the company. Fourteen analysts have rated the stock with a buy rating, According to MarketBeat.com, Privia Health Group presently has a consensus rating of “Buy” and a consensus price target of $38.73.
Privia Health Group Profile
Privia Health Group, Inc operates as a national physician-enablement company in the United States. The company collaborates with medical groups, health plans, and health systems to optimize physician practices, enhance patient experiences, and reward doctors for delivering care in-person and virtual settings.
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