DALLAS—Major stakeholders in P10, Inc. (NYSE:PX), a $1.48 billion market cap investment advisory firm, reported significant stock sales in recent transactions, according to a recent SEC filing. The sales, conducted by entities including 210 Capital, LLC and Covenant RHA Partners, L.P., amounted to a combined total of approximately $2 million. According to InvestingPro data, the company's stock has shown remarkable strength with a 66.62% price return over the past six months.
The transactions involved the sale of Class A Common Stock, with one batch of 100,000 shares sold at a weighted average price of $13.5124, totaling $1,351,240. Another batch of 50,000 shares was sold at an average price of $13.256, totaling $662,800. Based on InvestingPro's Fair Value analysis, the stock appears to be trading above its intrinsic value, with the current price of $13.25 sitting near its 52-week high of $14.28.
The entities involved in the transactions, such as CCW/LAW Holdings, LLC and RHA Investments, Inc., are related through various ownership structures and have been disclosed as beneficial owners of more than 10% of P10, Inc.'s common stock. However, each entity has disclaimed beneficial ownership beyond their pecuniary interests.
These transactions were carried out over two days, December 12 and 13, and were part of routine financial management by the involved parties. The sales prices varied slightly, reflecting typical market fluctuations during the period.
P10, Inc., headquartered in Dallas, provides investment advice and services, and these stock sales are part of the regular trading activities of its major investors.
In other recent news, P10 Inc (NYSE:PX) has been making significant strides in the investment management sector. The company's third-quarter results for 2024 showcased a robust 26% year-over-year revenue increase, surpassing estimates by about 11%. Additionally, P10 Inc's EBITDA exceeded forecasts by nearly 30%, with a reported EBITDA margin of 47.6%, well above the 40.7% anticipated by analysts.
In terms of mergers and acquisitions, P10 Inc recently announced the acquisition of Qualitas Funds, a development expected to expand the company's European presence and investor base. In line with the company's strategic growth plan, the firm has raised and deployed $2.9 billion year-to-date, exceeding the full-year guidance.
Financial services firm Stephens has maintained an Overweight rating on P10 Inc's stock and raised the price target to $13 from the previous $12. Stephens also anticipates a positive outlook for P10 Inc, especially with the addition of $1.4 billion in gross new fee-paying assets under management.
Lastly, P10 Inc declared a quarterly cash dividend of $0.035 per share, reflecting its disciplined capital allocation strategy. The company also appointed Mike Goodwin as its new Chief Information Officer, a move expected to fortify the firm's technological capabilities and promote innovation throughout the organization.
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