DALLAS—Several key stakeholders of P10, Inc. (NYSE:PX) have divested significant portions of their holdings, according to a recent SEC filing. The transactions, which occurred over three days from October 15 to October 17, were conducted under a pre-established Rule 10b5-1 trading plan.
The sales involved a total of 181,554 shares of P10's Class A common stock, amounting to approximately $2.05 million. The shares were sold at prices ranging from $11.2541 to $11.3464 per share.
The filing identifies multiple reporting owners, including 210 Capital, LLC; Robert H. Alpert; Webb C. Clark; Covenant RHA Partners, L.P.; CCW/LAW Holdings, LLC; and RHA Investments, Inc. These entities and individuals are collectively part of a group that may be deemed to own more than 10% of P10's common stock.
The transactions were executed by 210/P10 Acquisition Partners, LLC, a direct holder of the shares, with 210 Capital, LLC acting as the sole member. Both Robert H. Alpert and Webb C. Clark serve as directors on P10's board, with Clark also holding the position of Executive Vice Chairman.
The sales were carried out in multiple transactions, with the prices reflecting weighted averages. The reporting parties have committed to providing detailed information on the specific prices and shares sold upon request.
These developments come as P10, Inc. continues to navigate the investment advice industry, with its headquarters located in Dallas, Texas.
In other recent news, P10 Inc (NYSE:PX) has been making significant strides in its financial performance and strategic initiatives. The company reported a robust Q2 2024 with a 14% increase in revenue to $71 million and substantial growth in fee-paying assets under management, despite a slight 3% decrease in Fee-Related Earnings. Additionally, P10 Inc has set ambitious future financial goals, including a target to more than double its fee-paying assets under management and achieve an EBITDA margin in the mid-50% range by 2029.
P10 Inc has also announced the acquisition of Madrid-based Qualitas Equity Funds SGEIC, S.A. for an initial $63 million. This strategic move is expected to enhance P10's European presence and expand its global client base by over 1,300 limited partners. The transaction is anticipated to close in the first quarter of 2025.
However, analyst firms have mixed views on P10 Inc. Stephens maintains an Overweight rating on the company's stock, praising P10's unique market position and robust financial profile. On the other hand, UBS has downgraded P10's stock from Buy to Neutral due to concerns about near-term earnings potential and valuation. These recent developments reflect P10 Inc's strategic expansion efforts and the different perspectives of analyst firms.
InvestingPro Insights
As P10, Inc. (NYSE:PX) stakeholders execute significant stock sales, it's crucial to examine the company's current financial position and market performance. According to InvestingPro data, P10 has a market capitalization of $1.27 billion, indicating its substantial presence in the investment advice sector.
The company's stock has shown remarkable momentum, with InvestingPro reporting a 52.81% price total return over the past six months. This aligns with an InvestingPro Tip noting that P10 is "Trading near 52-week high," which may have influenced the timing of the insider sales reported in the article.
Despite the recent insider transactions, P10's financial health appears robust. An InvestingPro Tip highlights that "Liquid assets exceed short term obligations," suggesting a strong balance sheet position. This could provide reassurance to investors concerned about the company's stability following the insider sales.
It's worth noting that P10's P/E ratio stands at a high 597.85, indicating that the stock is trading at a premium compared to its earnings. This valuation metric, combined with the recent insider sales, may prompt investors to closely monitor the company's future earnings performance.
For those seeking a more comprehensive analysis, InvestingPro offers 7 additional tips that could provide deeper insights into P10's financial outlook and market position.
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