DALLAS—P10, Inc. (NASDAQ:PX) recently reported a significant insider sale, as detailed in a recent SEC filing. On November 11, 210 Capital, LLC, a major stakeholder in the company, sold 357,813 shares of Class A Common Stock. The sale occurred at a weighted average price of $12.0133 per share, with transaction prices ranging from $11.75 to $12.23, generating approximately $4.3 million in total proceeds.
This transaction was completed under a Rule 10b5-1 trading plan, which was adopted by 210 Capital on December 10, 2023. Following the sale, 210 Capital holds 1,750,000 shares indirectly. The filing also notes the involvement of several other entities and individuals, including Covenant RHA Partners, L.P., CCW/LAW Holdings, LLC, Webb C. Clark, and Alpert Robert H, who are associated with 210 Capital and may be deemed to have a beneficial interest in the shares.
These insiders collectively hold more than 10% of P10, Inc.'s common stock, positioning them as significant stakeholders in the company.
In other recent news, P10 Inc (NYSE:PX) has reported robust financial results, coupled with strategic advancements. The investment management firm revealed a notable 26% year-over-year increase in total revenue, reaching $74 million in the third quarter of 2024. Fee-related earnings also saw a substantial rise of 19%, amounting to approximately $35 million.
The firm's strategic growth plan has been successful, with $2.9 billion raised and deployed year-to-date, exceeding the full-year guidance. P10 Inc also announced the acquisition of Qualitas Funds, a move set to enhance the company's European presence and investor base, with the deal expected to close in the first quarter of 2025.
Financial services firm Stephens has raised the price target for P10 Inc to $13, up from the previous $12, maintaining an Overweight rating. This adjustment follows P10 Inc's impressive performance over four consecutive quarters, surpassing expectations on both revenue and EBITDA.
P10 Inc aims to double its fee-paying assets under management by 2029, focusing on organic growth and value-creating mergers and acquisitions. Lastly, the firm declared a quarterly cash dividend of $0.035 per share and bought back 609,300 shares, despite pausing share buybacks due to ongoing material transactions. These developments underline P10's commitment to operational efficiencies and disciplined capital allocation strategy, indicating continued momentum into 2025 and beyond.
InvestingPro Insights
P10, Inc.'s recent insider sale occurs against a backdrop of strong market performance and positive financial indicators. According to InvestingPro data, the company's stock has shown remarkable strength, with a 46.51% price total return over the past six months and a 33.04% return over the last year. This performance aligns with an InvestingPro Tip noting that P10 is trading near its 52-week high, with the current price at 97.58% of that peak.
The company's financial health appears robust, with revenue growth of 15.82% over the last twelve months and a quarterly revenue growth of 25.96% in Q3 2024. This growth trajectory is supported by another InvestingPro Tip indicating that net income is expected to increase this year. Additionally, P10 has demonstrated a commitment to shareholder returns, having raised its dividend for three consecutive years, with a current dividend yield of 1.16%.
While the P/E ratio stands at a high 115.67, suggesting a premium valuation, the PEG ratio of 0.12 for the last twelve months ending Q3 2024 indicates that the stock might be undervalued relative to its earnings growth potential. This presents an interesting dynamic for investors to consider.
For those seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for P10, Inc., providing deeper insights into the company's financial position and market outlook.
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