Privia Health Group, Inc. (NASDAQ:PRVA) Stake Reduced by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System reduced its stake in shares of Privia Health Group, Inc. (NASDAQ:PRVA) by 13.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,051 shares of the company’s stock after selling 4,601 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Privia Health Group were worth $675,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its stake in shares of Privia Health Group by 2,393.4% in the first quarter. Bessemer Group Inc. now owns 2,269 shares of the company’s stock worth $51,000 after purchasing an additional 2,178 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Privia Health Group by 4.6% in the first quarter. Janney Montgomery Scott LLC now owns 55,371 shares of the company’s stock worth $1,243,000 after purchasing an additional 2,413 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Privia Health Group by 113.1% in the first quarter. GAMMA Investing LLC now owns 2,866 shares of the company’s stock worth $64,000 after purchasing an additional 1,521 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Privia Health Group by 10.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,416,235 shares of the company’s stock worth $27,687,000 after purchasing an additional 138,747 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new position in shares of Privia Health Group in the first quarter worth $387,000. 94.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on PRVA shares. JMP Securities restated a “market outperform” rating and issued a $29.00 price objective on shares of Privia Health Group in a report on Monday, April 28th. Evercore ISI cut their price objective on Privia Health Group from $30.00 to $28.00 and set an “outperform” rating for the company in a report on Wednesday, July 9th. Piper Sandler cut their price objective on Privia Health Group from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Monday. JPMorgan Chase & Co. upped their price objective on Privia Health Group from $29.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, May 28th. Finally, Barclays upped their price objective on Privia Health Group from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Tuesday, May 27th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $28.00.

Privia Health Group Trading Up 1.5%

Shares of Privia Health Group stock opened at $21.02 on Thursday. The stock has a 50-day moving average price of $21.17 and a 200 day moving average price of $22.78. The company has a market cap of $2.58 billion, a P/E ratio of 191.11, a P/E/G ratio of 2.34 and a beta of 0.80. Privia Health Group, Inc. has a 1 year low of $16.47 and a 1 year high of $26.09.

Privia Health Group (NASDAQ:PRVA) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.03). The business had revenue of $521.15 million during the quarter, compared to analysts’ expectations of $466.97 million. Privia Health Group had a return on equity of 2.13% and a net margin of 0.78%. The firm’s revenue was up 23.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.19 earnings per share. On average, equities analysts forecast that Privia Health Group, Inc. will post 0.14 earnings per share for the current fiscal year.

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.