P3 Health Partners Inc. $PIII Shares Sold by Alyeska Investment Group L.P.

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 holdings in shares of P3 Health Partners Inc. (NASDAQ:PIII - Free Report) by 24.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 about 125.94% of P3 Health Partners worth $1,484,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PIII. Cresset Asset Management LLC grew its stake in shares of P3 Health Partners by 33.3% during 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 period. Abundance Wealth Counselors increased its holdings in shares of P3 Health Partners by 77.3% during the 1st quarter. Abundance Wealth Counselors now owns 400,000 shares of the company's stock worth $66,000 after buying an additional 174,395 shares during the last quarter. Finally, Wealthedge Investment Advisors LLC purchased a new position in shares of P3 Health Partners in the 4th quarter worth $83,000. Hedge funds and other institutional investors own 7.75% of the company's stock.

Wall Street Analysts Forecast Growth

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

P3 Health Partners Trading Up 0.3%

Shares of PIII stock traded up $0.03 during mid-day trading on Wednesday, reaching $8.82. The company's stock had a trading volume of 2,860 shares, compared to its average volume of 23,457. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 2.29. The firm has a market capitalization of $63.42 million, a PE ratio of -0.19 and a beta of 0.82. The company's 50 day simple moving average is $7.17 and its 200-day simple moving average is $7.81. P3 Health Partners Inc. has a 12-month low of $5.80 and a 12-month high of $29.00.

P3 Health Partners (NASDAQ:PIII - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($6.23) earnings per share 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 business had revenue of $355.79 million for the quarter, compared to analysts' expectations of $356.52 million. P3 Health Partners has set its FY 2025 guidance at EPS. On average, research analysts predict that P3 Health Partners Inc. will post -0.67 EPS for the current fiscal year.

About P3 Health Partners

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.