P3 Health Partners (NASDAQ:PIII) Stock Price Up 5.8% – Time to Buy?

Shares of P3 Health Partners Inc. (NASDAQ:PIIIGet Free Report) were up 5.8% during mid-day trading on Wednesday . The company traded as high as $9.49 and last traded at $9.41. Approximately 17,810 shares traded hands during trading, a decline of 75% from the average daily volume of 70,183 shares. The stock had previously closed at $8.89.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. TD Cowen reaffirmed a “hold” rating and set a $14.00 price objective (up from $3.00) on shares of P3 Health Partners in a report on Friday, May 22nd. Lake Street Capital reiterated a “buy” rating and issued a $23.00 target price on shares of P3 Health Partners in a report on Tuesday, August 11th. UBS Group set a $14.00 price objective on P3 Health Partners in a report on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of P3 Health Partners in a research note on Tuesday, August 25th. Finally, Wall Street Zen upgraded shares of P3 Health Partners to a “hold” rating in a report on Saturday, July 4th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.00.

Check Out Our Latest Report on PIII

P3 Health Partners Stock Up 5.8%

The company’s 50 day moving average is $10.46 and its 200 day moving average is $7.37. The firm has a market capitalization of $68.33 million, a price-to-earnings ratio of -0.29 and a beta of 1.63.

P3 Health Partners (NASDAQ:PIIIGet Free Report) last issued its earnings results on Monday, August 10th. The company reported ($0.63) EPS for the quarter, beating the consensus estimate of ($1.89) by $1.26. The firm had revenue of $386.38 million during the quarter, compared to analyst estimates of $377.80 million.

Insider Activity

In related news, major shareholder Hudson Vegas Investment Spv, L sold 50,000 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $16.48, for a total value of $824,000.00. Following the sale, the insider owned 48,959 shares of the company’s stock, valued at $806,844.32. The trade was a 50.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 10.86% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in P3 Health Partners stock. Diversified Trust Co bought a new stake in P3 Health Partners Inc. (NASDAQ:PIIIFree Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,316 shares of the company’s stock, valued at approximately $63,000. Diversified Trust Co owned about 0.28% of P3 Health Partners at the end of the most recent reporting period. Institutional investors and hedge funds own 7.75% of the company’s stock.

About P3 Health Partners

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P3 Health Partners is a healthcare technology and services company that delivers data-driven solutions to support health plans in improving quality measures, risk adjustment accuracy and operational efficiency. The company’s platform integrates advanced analytics, reporting capabilities and workflow automation to help clients optimize performance across value-based care programs and regulatory requirements.

The company’s core offerings include quality measurement and reporting for HEDIS, STAR and other performance frameworks, risk adjustment coding and audit services, and population health analytics.

Further Reading

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