Millennium Management LLC Raises Stock Position in Privia Health Group, Inc. (NASDAQ:PRVA)

Millennium Management LLC grew its stake in Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 2,994.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,138,526 shares of the company's stock after acquiring an additional 1,101,730 shares during the quarter. Millennium Management LLC owned 0.95% of Privia Health Group worth $19,788,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Canada Pension Plan Investment Board purchased a new stake in Privia Health Group during the 2nd quarter valued at $26,000. Nisa Investment Advisors LLC lifted its holdings in Privia Health Group by 107.5% in the second quarter. Nisa Investment Advisors LLC now owns 1,795 shares of the company's stock valued at $31,000 after acquiring an additional 930 shares during the period. Signaturefd LLC boosted its position in Privia Health Group by 46.3% in the second quarter. Signaturefd LLC now owns 1,978 shares of the company's stock worth $34,000 after purchasing an additional 626 shares during the last quarter. Park Place Capital Corp grew its stake in shares of Privia Health Group by 115.4% during the 1st quarter. Park Place Capital Corp now owns 2,492 shares of the company's stock valued at $49,000 after purchasing an additional 1,335 shares during the period. Finally, Covestor Ltd increased its position in shares of Privia Health Group by 25.5% during the 1st quarter. Covestor Ltd now owns 5,292 shares of the company's stock valued at $104,000 after purchasing an additional 1,076 shares during the last quarter. 94.48% of the stock is owned by hedge funds and other institutional investors.

Privia Health Group Trading Up 1.4 %

Shares of PRVA stock traded up $0.24 during trading hours on Friday, reaching $17.59. 336,687 shares of the stock were exchanged, compared to its average volume of 869,102. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 117.27, a price-to-earnings-growth ratio of 4.22 and a beta of 0.76. Privia Health Group, Inc. has a 12-month low of $15.92 and a 12-month high of $24.35. The company's 50-day moving average price is $19.23 and its 200-day moving average price is $18.45.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.02). The business had revenue of $422.30 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.06 EPS. On average, sell-side analysts expect that Privia Health Group, Inc. will post 0.16 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Royal Bank of Canada restated an "outperform" rating and issued a $28.00 price objective on shares of Privia Health Group in a research note on Wednesday, August 14th. Robert W. Baird upped 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. Finally, Evercore ISI lowered their price objective on Privia Health Group from $23.00 to $20.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 9th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $24.86.

Insider Transactions at Privia Health Group

In other news, CEO Parth Mehrotra sold 135,142 shares of Privia Health Group stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $18.50, for a total transaction of $2,500,127.00. Following the completion of the sale, the chief executive officer now owns 247,771 shares of the company's stock, valued at approximately $4,583,763.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 14.20% 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.