Privia Health Group (NASDAQ:PRVA) Upgraded by KeyCorp to "Strong-Buy"

KeyCorp upgraded shares of Privia Health Group (NASDAQ:PRVA - Free Report) to a strong-buy rating in a report issued on Thursday, Zacks.com reports.

Several other research analysts also recently weighed in on PRVA. Evercore ISI reduced their target price on Privia Health Group from $23.00 to $20.00 and set an outperform rating for the company in a research note on Tuesday, July 9th. Robert W. Baird increased their target price on Privia Health Group from $23.00 to $24.00 and gave the company an outperform rating in a report on Monday, August 26th. Finally, Royal Bank of Canada reiterated an outperform rating and set a $28.00 price target on shares of Privia Health Group in a research report on Wednesday, August 14th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Privia Health Group has a consensus rating of Buy and an average price target of $24.73.

Privia Health Group Stock Up 2.5 %

Shares of NASDAQ:PRVA traded up $0.43 during trading on Thursday, hitting $17.55. 1,216,851 shares of the stock traded hands, compared to its average volume of 864,850. The company has a fifty day moving average price of $18.90 and a two-hundred day moving average price of $18.35. Privia Health Group has a 52-week low of $15.92 and a 52-week high of $24.35. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 117.00, 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 data on Thursday, August 8th. The company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.02). Privia Health Group had a net margin of 0.88% and a return on equity of 2.42%. The firm had revenue of $422.30 million during the quarter, compared to analysts' expectations of $411.50 million. During the same period in the previous year, the firm posted $0.06 EPS. The firm's quarterly revenue was up 2.2% on a year-over-year basis. On average, equities research analysts predict that Privia Health Group will post 0.16 EPS for the current fiscal year.

Insider Activity at Privia Health Group

In other news, CEO Parth Mehrotra sold 135,142 shares of the company's stock in a transaction that occurred 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 directly owns 247,771 shares in the company, valued at approximately $4,583,763.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 14.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Privia Health Group

Several hedge funds have recently bought and sold shares of PRVA. Benjamin F. Edwards & Company Inc. increased its stake in Privia Health Group by 8.5% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 7,695 shares of the company's stock worth $134,000 after purchasing an additional 605 shares during the period. Arizona State Retirement System lifted its holdings in Privia Health Group by 2.4% during the 2nd quarter. Arizona State Retirement System now owns 26,574 shares of the company's stock worth $462,000 after buying an additional 617 shares in the last quarter. Signaturefd LLC boosted its position in Privia Health Group by 46.3% in the 2nd quarter. Signaturefd LLC now owns 1,978 shares of the company's stock valued at $34,000 after buying an additional 626 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Privia Health Group by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,970 shares of the company's stock worth $176,000 after acquiring an additional 756 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of Privia Health Group by 9.7% during the second quarter. Parkside Financial Bank & Trust now owns 8,684 shares of the company's stock worth $151,000 after acquiring an additional 771 shares during the period. Institutional investors and hedge funds own 94.48% of the company's stock.

About Privia Health Group

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.