DALLAS—P10, Inc. (NASDAQ:PX), an investment firm with a market capitalization of $1.48 billion and strong momentum showing a 70% price return over the past six months, has reported a substantial divestment by its major stakeholders, according to a recent SEC filing. The stakeholders sold a total of 275,000 shares of Class A Common Stock on December 9, 2024, and 145,000 shares on December 10, 2024, at prices ranging from $13.2632 to $13.3836 per share. These transactions amounted to approximately $5.59 million. The current stock price of $13.62 sits near its 52-week high of $14.28.
Additionally, another sale occurred on December 11, 2024, involving 155,000 shares at a price of $13.5233 per share, totaling around $2.10 million. The shares were owned indirectly by 210/P10 Acquisition Partners, LLC, with several entities and individuals, including Covenant RHA Partners, L.P., CCW/LAW Holdings, LLC, and individuals Webb C. Clark and Robert H. Alpert, listed as reporting persons.
Following these transactions, 210/P10 Acquisition Partners, LLC retains ownership of 200,000 shares. Despite the sales, the reporting parties maintain that their collective holdings still represent over 10% of P10, Inc.'s common stock. According to InvestingPro analysis, which offers comprehensive research reports on over 1,400 US stocks, P10 currently appears overvalued relative to its Fair Value, with analyst price targets ranging from $13 to $17 per share.
In other recent news, P10 Inc (NYSE:PX) has witnessed significant advancements in its business operations. The firm's Q3 2024 results highlighted a substantial 26% year-over-year revenue increase, surpassing estimates by roughly 11%. Additionally, the company's EBITDA exceeded forecasts by nearly 30%, with a reported EBITDA margin of 47.6%, well above the 40.7% anticipated by analysts.
In line with its strategic growth plan, P10 Inc recently announced the acquisition of Qualitas Funds, a move that is anticipated to broaden the company's European influence and investor base. The firm has already raised and deployed $2.9 billion year-to-date, surpassing its full-year guidance.
Financial services firm Stephens has maintained its Overweight rating on P10 Inc's stock, raising the price target to $13 from the previous $12. Stephens also expects a positive outlook for P10 Inc, especially with the addition of $1.4 billion in gross new fee-paying assets under management.
Furthermore, P10 Inc has announced Mike Goodwin as its new Chief Information Officer (CIO). With over 20 years of experience in information management, Goodwin is expected to strengthen the firm's technology and data strategy. Lastly, P10 Inc has declared a quarterly cash dividend of $0.035 per share, reflecting its disciplined capital allocation strategy.
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