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David M. McCoy, a director at P10, Inc. (NYSE:PX), recently sold a significant portion of the company’s Class A Common Stock. According to a filing with the Securities and Exchange Commission, McCoy disposed of 60,000 shares on March 20 at a price of $11.92 per share, totaling approximately $715,200. Following this transaction, McCoy holds 329,323 shares directly. The sale occurred as P10’s stock has shown strong momentum, delivering a 55% return over the past year. According to InvestingPro analysis, the company currently trades slightly below its Fair Value, with a GOOD overall financial health score.
Additionally, on March 24, McCoy reported a transfer of 25,000 shares for no consideration. This transaction did not involve any monetary exchange and left McCoy with a total of 304,323 shares. The filing also notes that McCoy may be considered part of a group owning more than 10% of P10’s outstanding common stock, though this particular filing only accounts for his individual holdings. P10, with a market capitalization of $1.32 billion, has maintained strong fundamentals, as evidenced by its consistent dividend growth and profitable operations. For deeper insights into P10’s valuation and growth prospects, including 8 additional key ProTips, check out the comprehensive analysis available on InvestingPro.
In other recent news, P10, Inc. has announced several key developments that may interest investors. The company reported a significant leadership change with Andrew Corsi appointed as the new Chief Accounting Officer, effective January 1, 2025, succeeding Amanda Coussens. In analyst coverage, JPMorgan upgraded P10’s stock from Neutral to Overweight, citing its niche focus and potential for value creation, while raising the price target from $14.00 to $15.00. The analysts highlighted P10’s specialized investment strategies and strategic mergers and acquisitions as factors contributing to its growth and market position.
Additionally, P10, Inc. has amended its Controlled Company Agreement, affecting shareholder dynamics by removing certain entities as Restricted Stockholders and converting Class B Common Stock to Class A Common Stock. This amendment, filed with the SEC, may signal changes in voting power and ownership dispersion. The company’s revenue model, largely based on management and advisory fees, was noted by JPMorgan to offer stability against market volatility. These recent developments underscore P10, Inc.’s strategic initiatives and evolving corporate governance structure.
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