KeyCorp Begins Coverage on Privia Health Group (NASDAQ:PRVA)

Equities research analysts at KeyCorp initiated coverage on shares of Privia Health Group (NASDAQ:PRVA - Get Free Report) in a research note issued to investors on Friday, MarketBeat reports. The firm set an "overweight" rating and a $23.00 price target on the stock. KeyCorp's price objective points to a potential upside of 31.05% from the stock's current price.

A number of other brokerages also recently issued reports on PRVA. Robert W. Baird increased their price target on Privia Health Group from $23.00 to $24.00 and gave the stock an "outperform" rating in a research report on Monday, August 26th. Royal Bank of Canada restated an "outperform" rating and issued a $28.00 price target on shares of Privia Health Group in a research report on Wednesday, August 14th. Finally, Evercore ISI cut their price objective on shares of Privia Health Group from $23.00 to $20.00 and set an "outperform" rating for the company in a research report on Tuesday, July 9th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $24.73.

Privia Health Group Price Performance

PRVA traded up $0.43 during trading on Friday, hitting $17.55. The stock had a trading volume of 1,216,851 shares, compared to its average volume of 864,850. The company has a 50 day moving average price of $18.94 and a 200-day moving average price of $18.36. Privia Health Group has a one year low of $15.92 and a one year high of $24.35. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 114.13, a P/E/G ratio of 3.93 and a beta of 0.76.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). The business had revenue of $422.30 million during the quarter, compared to analyst estimates of $411.50 million. Privia Health Group had a net margin of 0.88% and a return on equity of 2.42%. The company's revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company posted $0.06 earnings per share. As a group, sell-side analysts predict that Privia Health Group will post 0.16 EPS for the current fiscal year.

Insider Buying and Selling at Privia Health Group

In related news, CEO Parth Mehrotra sold 135,142 shares of the business's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $18.50, for a total value of $2,500,127.00. Following the transaction, the chief executive officer now owns 247,771 shares in the company, valued at $4,583,763.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 14.20% of the company's stock.

Institutional Trading of Privia Health Group

Several hedge funds have recently modified their holdings of PRVA. Blair William & Co. IL raised its holdings in shares of Privia Health Group by 125.4% during the first quarter. Blair William & Co. IL now owns 51,564 shares of the company's stock valued at $1,010,000 after purchasing an additional 28,689 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in Privia Health Group by 27.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 234,991 shares of the company's stock worth $4,603,000 after acquiring an additional 50,042 shares in the last quarter. Peregrine Capital Management LLC grew its stake in Privia Health Group by 11.5% in the second quarter. Peregrine Capital Management LLC now owns 314,190 shares of the company's stock valued at $5,461,000 after acquiring an additional 32,311 shares during the period. Vanguard Group Inc. raised its position in shares of Privia Health Group by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 11,278,334 shares of the company's stock worth $259,740,000 after purchasing an additional 274,345 shares during the period. Finally, BlackBarn Capital Partners LP lifted its holdings in shares of Privia Health Group by 100.0% in the 2nd quarter. BlackBarn Capital Partners LP now owns 400,000 shares of the company's stock worth $6,952,000 after purchasing an additional 200,000 shares in the last quarter. Institutional investors own 94.48% of the company's stock.

Privia Health Group Company 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.