Cresset Asset Management LLC Acquires 50,000 Shares of P3 Health Partners Inc. $PIII

Key Points

• Cresset Asset Management LLC increased its stake in P3 Health Partners Inc. by 33.3%, purchasing an additional 50,000 shares, bringing its total ownership to approximately 200,000 shares.
• P3 Health Partners reported a disappointing earnings result, with an EPS of ($6.23) for the quarter, which was below analysts' expectations of ($3.29).
• The stock of P3 Health Partners is currently down 1.8%, with a market capitalization of $56.44 million and a 52-week trading range between $5.80 and $29.19.

Cresset Asset Management LLC lifted its holdings in shares of P3 Health Partners Inc. (NASDAQ:PIII - Free Report) by 33.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200,000 shares of the company's stock after purchasing an additional 50,000 shares during the quarter. Cresset Asset Management LLC owned 2.78% of P3 Health Partners worth $33,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Abundance Wealth Counselors grew its holdings in shares of P3 Health Partners by 77.3% during the first quarter. Abundance Wealth Counselors now owns 400,000 shares of the company's stock worth $66,000 after buying an additional 174,395 shares in the last quarter. Wealthedge Investment Advisors LLC bought a new position in shares of P3 Health Partners during the fourth quarter worth about $83,000. Finally, XTX Topco Ltd bought a new position in shares of P3 Health Partners during the fourth quarter worth about $46,000. 7.75% of the stock is currently owned by institutional investors.

P3 Health Partners Stock Down 0.4%

PIII traded down $0.03 during trading on Friday, reaching $8.28. 6,316 shares of the stock were exchanged, compared to its average volume of 7,525. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.31 and a current ratio of 0.31. The stock's 50 day moving average price is $6.83 and its two-hundred day moving average price is $7.96. P3 Health Partners Inc. has a twelve month low of $5.80 and a twelve month high of $29.19. The stock has a market cap of $59.51 million, a P/E ratio of -0.18 and a beta of 0.81.

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

Analyst Ratings Changes

Separately, Lake Street Capital assumed coverage on P3 Health Partners in a report on Thursday. They set a "buy" rating and a $20.00 price objective for the company. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.25.

P3 Health Partners 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.