DALLAS—Insiders at P10, Inc. (NYSE:PX) have recently reported significant sales of Class A common stock, totaling approximately $29.3 million. These transactions occurred over several days, with shares sold at prices ranging from $13.9482 to $14.1389.
On November 25, a large block of 1,460,972 shares was sold at an average price of $13.9886, while an additional 339,028 shares were sold at an average of $14.1389. Another notable transaction took place on November 26, with 289,028 shares sold at an average price of $13.9482. The following day, November 27, saw a further 250,000 shares exchanged at an average price of $14.0347.
These sales were executed by multiple reporting owners, including 210 Capital, LLC, Robert H. Alpert, Webb C. Clark, Covenant RHA Partners, L.P., CCW/LAW Holdings, LLC, and RHA Investments, Inc. Each of these entities and individuals is associated with 210/P10 Acquisition Partners, LLC, which holds direct ownership of the shares.
In addition to these sales, the reporting persons also converted 2,000,000 shares of Class B common stock into Class A common stock, although this transaction did not involve a cash exchange.
These transactions come as part of regular insider trading activities and reflect the ongoing management of stock holdings by key stakeholders in P10, Inc.
In other recent news, P10 Inc (NYSE:PX) reported remarkable third-quarter results for 2024, surpassing expectations in both revenue and earnings. The company's revenue increased by 26% year-over-year, outperforming estimates by 11%, and the EBITDA margin was reported at 47.6%, significantly higher than the 40.7% anticipated by analysts. This marked the company's fourth consecutive quarter of exceeding expectations.
In addition to these earnings and revenue results, P10 Inc has successfully implemented its strategic growth plan. The company raised and deployed $2.9 billion year-to-date, surpassing the full-year target. Furthermore, the company's fee-paying assets under management increased by 10% year-over-year to $24.9 billion.
The financial services firm, Stephens, has raised the price target for P10 Inc to $13 from $12, maintaining its Overweight rating. This adjustment followed the company's recent successful quarterly results. Stephens also anticipates a positive outlook for P10 Inc, highlighting the company's addition of $1.4 billion in gross new fee-paying assets under management.
In other company news, P10 Inc announced the acquisition of Qualitas Funds, a move expected to enhance the company's European presence and investor base. The deal is set to close in Q1 2025. The company also declared a quarterly cash dividend of $0.035 per share and bought back 609,300 shares at an average price of $10.15 in Q3.
These recent developments indicate P10 Inc's commitment to operational efficiencies and disciplined capital allocation strategy, suggesting continued momentum into 2025 and beyond.
InvestingPro Insights
The recent insider sales at P10, Inc. (NYSE:PX) come amid a period of strong performance for the company's stock. According to InvestingPro data, P10 has seen impressive price returns, with a 27.43% increase over the past month and a substantial 74.38% gain over the last six months. This upward trajectory has brought the stock price to 99.72% of its 52-week high, indicating robust investor confidence.
Despite the significant insider sales, there are positive indicators for P10's financial health and growth prospects. An InvestingPro Tip reveals that net income is expected to grow this year, which could be a driving factor behind the stock's recent performance. Additionally, the company's revenue growth of 15.82% over the last twelve months as of Q3 2024 suggests ongoing business expansion.
It's worth noting that P10 currently trades at a high P/E ratio of 121.81, which may raise questions about valuation. However, another InvestingPro Tip points out that the company is trading at a low P/E ratio relative to near-term earnings growth, suggesting potential undervaluation when considering future prospects.
For investors seeking a more comprehensive analysis, InvestingPro offers 14 additional tips for P10, providing a deeper understanding of the company's financial position and market performance.
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