DALLAS—On November 15, 2024, several major shareholders of P10, Inc. (NYSE:PX), including 210 Capital, LLC and others, executed significant stock sales. The transactions, disclosed in a recent filing, involved the sale of a total of 497,000 shares of Class A common stock, with a combined value of approximately $6,028,769. The shares were sold at prices ranging between $12.013 and $12.2047.
The sales were carried out over three consecutive days, starting on November 15. The first transaction involved the sale of 130,000 shares, followed by 165,000 shares on November 18, and finally, 202,000 shares on November 19. These transactions reduced the collective holdings of the reporting entities, which include individuals and entities such as Webb C Clark and Covenant RHA Partners, L.P., among others.
The filing notes that the involved parties are part of a group that collectively holds more than 10% of P10’s common stock, although each disclaims beneficial ownership beyond their pecuniary interests. The sales reflect a strategic move by these shareholders, whose transactions are closely monitored by market participants for potential insights into the company’s valuation and future prospects.
In other recent news, P10 Inc (NYSE:) has been making notable strides. The investment management firm’s third-quarter results for 2024 marked the fourth consecutive quarter of surpassing revenue and earnings expectations, with a significant year-over-year revenue increase of 26%. The company’s EBITDA also exceeded forecasts by approximately 30%, thanks to revenue outperformance and the inherent leverage characteristic of P10’s business model.
Stephens, a financial services firm, responded to these developments by raising the price target for P10 Inc to $13 from the previous $12 target, maintaining its Overweight rating on the company’s stock. The firm also anticipates a positive outlook for P10 Inc, citing the company’s successful addition of $1.4 billion in gross new fee-paying assets under management (AUM).
In terms of strategic growth, P10 Inc has surpassed its full-year target of $2.5 billion in AUM, reaching $2.9 billion. The company also reported a successful acquisition of Qualitas Funds, which is expected to bolster its European presence and investor base. The deal is set to close in the first quarter of 2025.
Lastly, P10 Inc has declared a quarterly cash dividend of $0.035 per share and repurchased 609,300 shares at an average price of $10.15 in Q3, demonstrating a commitment to operational efficiency and disciplined capital allocation. These recent developments suggest continued momentum for P10 Inc into 2025 and beyond.
InvestingPro Insights
The recent stock sales by major shareholders of P10, Inc. (NYSE:PX) come at a time when the company’s stock is trading near its 52-week high, with a price at 99.35% of its peak. This aligns with one of the InvestingPro Tips, which notes that P10 has shown a “Strong return over the last three months.” Indeed, the data reveals a 20.22% price total return over the past three months and an impressive 49.27% over the last six months.
Despite the insider selling, P10’s financial metrics suggest a company with solid fundamentals. The company’s revenue growth of 15.82% over the last twelve months and a quarterly growth of 25.96% in Q3 2024 indicate robust business expansion. Additionally, P10 boasts a healthy operating income margin of 13.52%, demonstrating efficient management of operating expenses.
InvestingPro Tips also highlight that P10 “Has raised its dividend for 3 consecutive years,” which may appeal to income-focused investors. The current dividend yield stands at 1.16%, with a dividend growth rate of 7.69% over the last twelve months.
For investors seeking more comprehensive analysis, InvestingPro offers 11 additional tips for P10, providing a deeper understanding of the company’s financial health and market position.
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