DALLAS—Major stakeholders of P10, Inc. (NYSE:PX), a company with a market capitalization of $1.48 billion and a strong financial health score according to InvestingPro, recently sold a significant portion of their shares, according to a recent filing with the Securities and Exchange Commission. The transactions, which took place over a three-day period, involved the sale of 575,000 shares of Class A Common Stock, bringing in a total of approximately $5.59 million.
The shares were sold in multiple transactions at prices ranging from $13.2632 to $13.3836. The largest transaction occurred on December 9, when 275,000 shares were sold, followed by 145,000 shares on December 10, and 155,000 shares on December 11. This selling activity comes as P10 has demonstrated remarkable momentum, posting a 69.79% return over the past six months.
The sellers, identified as 210 Capital, LLC, Alpert Robert H, Webb C Clark, Covenant RHA Partners, L.P., CCW/LAW Holdings, LLC, and RHA Investments, Inc., are collectively known as the "Reporting Persons." These entities and individuals are linked through various direct and indirect ownership structures and have been involved in managing significant stakes in P10, Inc.
These transactions have reduced the Reporting Persons' collective holdings in P10, Inc., yet they still maintain a substantial ownership stake. The sales were conducted at a time when the stock prices were in a relatively narrow range, reflecting a strategic decision by the stakeholders. The Reporting Persons have stated that they may still be considered beneficial owners of the shares, as outlined in the footnotes of the filing.
Investors and market watchers will be keen to observe any further movements in P10, Inc.'s stock as these stakeholders adjust their positions. With the stock currently trading at a P/E ratio of 121.81 and appearing overvalued according to InvestingPro's Fair Value analysis, comprehensive research is crucial. For deeper insights into P10's valuation and 10+ additional ProTips, investors can access the detailed Pro Research Report, part of the extensive analysis available for 1,400+ US stocks on InvestingPro.
In other recent news, P10 Inc (NYSE:PX) has reported significant financial growth and strategic advancements. The company's third-quarter results for 2024 revealed a remarkable 26% year-over-year revenue increase, surpassing estimates by about 11%. P10 Inc's EBITDA also exceeded forecasts by nearly 30%, with a reported EBITDA margin of 47.6%, well above the 40.7% anticipated by analysts.
In the realm of mergers and acquisitions, P10 Inc recently announced the acquisition of Qualitas Funds, a move expected to expand the company's European presence and investor base. This development aligns with the company's strategic growth plan, which has already seen the firm raise and deploy $2.9 billion year-to-date, surpassing 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. The firm also anticipates a positive outlook for P10 Inc, especially with the addition of $1.4 billion in gross new fee-paying assets under management.
P10 Inc has also appointed Mike Goodwin as its new Chief Information Officer (CIO). Goodwin brings over twenty years of experience in information management, with expertise in data strategy, cybersecurity, and technology strategy implementation. His leadership is expected to fortify the firm's client services and promote innovation throughout the organization.
Finally, P10 Inc is aiming to double its fee-paying assets under management by 2029, focusing on organic growth and value-creating mergers and acquisitions. The company's management remains optimistic about future growth and margin expansion, targeting mid-40s to near 50% over the long term.
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