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David M. McCoy, a director at P10 Inc. (NYSE:PX), recently sold a substantial portion of his holdings in the company. According to a recent SEC filing, McCoy sold 90,000 shares of P10’s Class A common stock on March 25 at a price of $12.16 per share. This transaction totaled approximately $1.09 million. The sale occurred as P10’s stock has shown strong momentum, delivering a 43% return over the past year, with shares currently trading at $11.85.
Following the sale, McCoy retains ownership of 214,323 shares in the company. While McCoy is part of a group that may collectively own more than 10% of P10’s outstanding common stock, the filing specifies that the reported securities only pertain to McCoy’s individual holdings. According to InvestingPro analysis, P10 currently appears slightly undervalued, with a GOOD financial health score. InvestingPro subscribers have access to 8 additional key insights about P10, including detailed valuation metrics and growth forecasts, available in the comprehensive Pro Research Report.
In other recent news, P10 Inc. has made significant strides in its leadership and strategic positioning. The company announced the appointment of Andrew Corsi as its new Chief Accounting Officer, effective January 1, 2025. Corsi, who has been with P10 since 2021 as Corporate Controller, will take over from Amanda Coussens, who will continue as the Chief Financial Officer. This leadership change is part of P10’s ongoing management structure adjustments.
Additionally, JPMorgan analysts have upgraded P10’s stock from Neutral to Overweight, raising the price target from $14.00 to $15.00. The upgrade reflects confidence in P10’s niche focus on the lower and lower-middle markets, which are seen as attractive in the current economic cycle. Analysts highlighted P10’s specialized investment strategies and proactive growth through strategic mergers and acquisitions. Recent moves, such as the acquisition of WTI and expansion into venture debt, are part of P10’s broader strategy to diversify and strengthen its market position.
JPMorgan analysts noted that P10’s revenue model, largely based on management and advisory fees, positions the company for financial stability with limited exposure to market downturns. These developments underscore the company’s efforts to enhance its investment capabilities and create value for investors.
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