In a recent transaction involving P10, Inc. (NYSE:PX), significant shareholders disposed of a portion of their holdings. According to the latest SEC filing, 210 Capital, LLC, along with other associated entities, sold 50,000 shares of P10's Class A Common Stock. The shares were sold at an average price of $13.2571, resulting in a total transaction value of approximately $662,855. The stock, which has delivered an impressive 67.75% return over the past six months, currently trades near $12.86. InvestingPro analysis indicates the company maintains a GOOD financial health score, with multiple positive indicators available to subscribers.
The filing also disclosed a conversion of 4,967,397 shares of Class B Common Stock into Class A Common Stock, though this conversion did not involve any monetary exchange. The conversion aligns with P10's policy allowing Class B shareholders to convert their holdings on a one-for-one basis into Class A shares at any time. With a market capitalization of $1.51 billion, P10 has demonstrated strong momentum, as highlighted by InvestingPro's comprehensive analysis tools and research reports.
The report lists several entities and individuals as reporting owners, including 210 Capital, LLC, Covenant RHA Partners, L.P., and individuals such as Robert H. Alpert and Webb C. Clark. These parties are collectively considered to own more than 10% of P10's common stock. As such, their transactions are closely monitored by investors and market analysts alike. For deeper insights into P10's ownership structure and financial metrics, investors can access detailed Pro Research Reports available on InvestingPro, which covers over 1,400 US stocks with comprehensive analysis and actionable intelligence.
In other recent news, P10 Inc (NYSE:PX) reported significant growth in its third-quarter results for 2024, with a 26% year-over-year revenue increase, surpassing estimates by about 11%. The firm's EBITDA margin was reported at 47.6%, well above the 40.7% anticipated by analysts. In addition, P10 Inc announced the strategic acquisition of Qualitas Funds, a move aimed at expanding its European presence and investor base.
These developments are part of P10 Inc's ongoing efforts to enhance its operations and financial performance. The company also recently appointed Mike Goodwin as its new Chief Information Officer, a move expected to strengthen its technology and data strategy.
Financial services firm Stephens maintained an Overweight rating on P10 Inc's stock and raised the price target to $13 from the previous $12, reflecting confidence in the company's growth prospects. Furthermore, P10 Inc aims to double its fee-paying assets under management by 2029, with a focus on organic growth and value-creating mergers and acquisitions. Lastly, the firm declared a quarterly cash dividend of $0.035 per share, part of its disciplined capital allocation strategy.
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