Alyeska Investment Group L.P. Reduces Stock Position in P3 Health Partners Inc. $PIII

Key Points

• Alyeska Investment Group L.P. has reduced its stake in P3 Health Partners Inc. by 24.0%, now owning 9,045,340 shares after selling over 2.8 million shares in the first quarter.
• P3 Health Partners reported earnings of ($6.23) per share for the quarter, significantly missing analyst expectations of ($3.29).
• Despite the recent losses, analysts from Lake Street Capital have issued a "buy" rating for P3 Health Partners, setting a target price of $20.00.

Alyeska Investment Group L.P. cut its position in shares of P3 Health Partners Inc. (NASDAQ:PIII - Free Report) by 24.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,045,340 shares of the company's stock after selling 2,860,631 shares during the quarter. Alyeska Investment Group L.P. owned approximately 125.94% of P3 Health Partners worth $1,484,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Cresset Asset Management LLC increased its stake in P3 Health Partners by 33.3% in the 1st quarter. Cresset Asset Management LLC now owns 200,000 shares of the company's stock valued at $33,000 after buying an additional 50,000 shares during the last quarter. Abundance Wealth Counselors grew its holdings in shares of P3 Health Partners by 77.3% in the first quarter. Abundance Wealth Counselors now owns 400,000 shares of the company's stock valued at $66,000 after acquiring an additional 174,395 shares in the last quarter. Finally, Wealthedge Investment Advisors LLC bought a new position in shares of P3 Health Partners in the fourth quarter valued at approximately $83,000. 7.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Lake Street Capital began coverage on P3 Health Partners in a report on Thursday, August 28th. They set a "buy" rating and a $20.00 price target on the stock. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, P3 Health Partners currently has a consensus rating of "Moderate Buy" and an average price target of $16.25.

P3 Health Partners Stock Performance

Shares of NASDAQ:PIII traded down $0.06 during mid-day trading on Thursday, reaching $8.62. The company had a trading volume of 5,269 shares, compared to its average volume of 7,117. P3 Health Partners Inc. has a one year low of $5.80 and a one year high of $29.00. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 2.29. The company's 50-day moving average price is $7.26 and its 200-day moving average price is $7.82. The firm has a market cap of $62.01 million, a price-to-earnings ratio of -0.19 and a beta of 0.82.

P3 Health Partners (NASDAQ:PIII - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported ($6.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($3.29) by ($2.94). P3 Health Partners had a negative return on equity of 183.60% and a negative net margin of 9.99%.The firm had revenue of $355.79 million during the quarter, compared to analysts' expectations of $356.52 million. P3 Health Partners has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that P3 Health Partners Inc. will post -0.67 EPS for the current fiscal year.

P3 Health Partners Company Profile

P3 Health Partners Inc, a patient-centered and physician-led population health management company, provides superior care services in the United States. It operates clinics and wellness centers. P3 Health Partners Inc was founded in 2020 and is based in Henderson, Nevada.