Edwin A. Poston, a director at P10, Inc. (NYSE:PX), recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Poston sold 54,103 shares of Class A Common Stock on November 22, 2024, at a price of $13.63 per share. This transaction amounted to a total value of approximately $737,423.
Following this sale, Poston no longer holds any shares directly under his name. The filing also notes that he is part of a group that collectively owns more than 10% of the company's common stock, although he disclaims beneficial ownership except to the extent of his pecuniary interest.
In other recent news, P10 Inc (NYSE:PX) has demonstrated strong financial performance, with Stephens, a financial services firm, raising the company's price target from $12 to $13. This adjustment follows P10 Inc's impressive third-quarter results for 2024, marking the company's fourth consecutive quarter of exceeding revenue and earnings estimates. The company reported a significant 26% year-over-year revenue increase, outperforming estimates by approximately 11%, and an EBITDA margin of 47.6%, higher than the 40.7% anticipated by analysts.
In addition to financial performance, P10 Inc has been successful in implementing its strategic growth plan, with $2.9 billion raised and deployed year-to-date, surpassing the full-year target. This achievement is complemented by the acquisition of Qualitas Funds, expected to enhance P10's European presence and investor base.
Stephens maintains an Overweight rating on P10 Inc, reflecting confidence in the company's growth prospects. The firm also highlights the potential of mergers and acquisitions activity for P10 Inc. These recent developments indicate P10's commitment to operational efficiencies and disciplined capital allocation strategy, demonstrating continued momentum into 2025.
InvestingPro Insights
The recent sale by director Edwin A. Poston comes at a time when P10, Inc. (NYSE:PX) is experiencing notable market performance. According to InvestingPro data, the company's stock is trading near its 52-week high, with a price at 97.96% of its peak. This aligns with the strong returns observed over various timeframes, including a significant 72.17% price total return over the past six months.
InvestingPro Tips highlight that P10 has raised its dividend for three consecutive years, suggesting a commitment to shareholder returns. This is further supported by the current dividend yield of 1.0% and a dividend growth of 7.69% over the last twelve months. These factors may be of interest to investors looking for companies with a track record of increasing shareholder value.
Despite the positive momentum, it's worth noting that the stock's RSI suggests it may be in overbought territory, according to another InvestingPro Tip. This could provide context for Poston's decision to sell, potentially indicating a strategic move to capitalize on the stock's recent strong performance.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for P10, Inc., which could provide further insights into the company's financial health and market position.
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