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DALLAS—P10, Inc. (NASDAQ:PX), a $1.57 billion market cap investment management firm that has delivered an impressive 76.3% return over the past six months, experienced notable stock transactions as major stakeholders, including 210 Capital, LLC and others, sold substantial shares of the company's Class A common stock in recent days. According to InvestingPro analysis, the company maintains a GOOD financial health score, with 12 additional key insights available to subscribers.
The transactions, detailed in a recent SEC filing, reveal that 175,000 shares were sold on November 29 at a weighted average price of $14.1395, and 425,000 shares were sold on December 2 at an average price of $14.1434. These sales resulted in a combined total of approximately $8.49 million. Additionally, on December 3, a further 386,500 shares were sold at an average price of $14.0295, totaling about $5.42 million. These transactions occurred as the stock trades near its 52-week high of $14.28, with current InvestingPro data indicating the stock is slightly overvalued at current levels.
The stakeholders involved in these transactions include 210 Capital, LLC, Covenant RHA Partners, L.P., and individuals such as Webb C. Clark and Robert H. Alpert. These entities are connected to the direct holder of the shares, 210/P10 Acquisition Partners, LLC, as noted in the filing's footnotes.
The transactions also included a non-cash transfer of 500,000 shares, which were gifted to a charitable foundation, as indicated in the filing. This transfer was recorded at a price of $0.00.
These sales come amid a period of active trading for P10, Inc., a company engaged in investment advice and management that has demonstrated solid fundamentals with 15.82% revenue growth and a healthy current ratio of 1.66. The stakeholders have clarified that they may be deemed to beneficially own more than 10% of the company's common stock, as stated in the filing. For comprehensive analysis and detailed insights, investors can access the full P10 Research Report on InvestingPro, part of their coverage of 1,400+ US equities.
In other recent news, P10 Inc (NYSE:PX) has been making significant strides in the investment management sector. The company reported a notable 26% year-over-year revenue increase in its third-quarter results for 2024, exceeding estimates by 11%. Additionally, P10 Inc's EBITDA surpassed forecasts by nearly 30%, with a reported margin of 47.6%, well above the 40.7% expected by analysts.
In terms of mergers and acquisitions, P10 Inc recently announced the acquisition of Qualitas Funds, a move projected 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, exceeding full-year guidance.
Furthermore, the financial services firm Stephens has maintained an Overweight rating on P10 Inc's stock, raising the price target to $13 from the previous $12. Stephens also anticipates a positive outlook for P10 Inc, particularly with the addition of $1.4 billion in gross new fee-paying assets under management.
Lastly, P10 Inc announced the appointment of Mike Goodwin as its new Chief Information Officer (CIO). Goodwin brings over twenty years of experience in information management and will be responsible for the firm's data, technology, and infrastructure functions.
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