P3 Health Partners (NASDAQ:PIII) Trading 5.8% Higher – Time to Buy?

P3 Health Partners Inc. (NASDAQ:PIII)’s share price traded 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 changed hands during mid-day trading, a decline of 75% from the average daily volume of 70,183 shares. The stock had previously closed at $8.89.

Analyst Ratings Changes

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

P3 Health Partners Trading Down 2.7%

The stock has a 50 day simple moving average of $10.43 and a 200 day simple moving average of $7.42. The firm has a market capitalization of $66.50 million, a PE ratio of -0.28 and a beta of 1.63.

P3 Health Partners (NASDAQ:PIII) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($1.89) by $1.26. The firm had revenue of $386.38 million for the quarter, compared to analysts’ expectations of $377.80 million.

Insiders Place Their Bets

In other news, major shareholder Hudson Vegas Investment Spv, L sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $16.48, for a total transaction of $824,000.00. Following the transaction, the insider directly owned 48,959 shares of the company’s stock, valued at approximately $806,844.32. The trade was a 50.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 10.86% of the company’s stock.

Hedge Funds Weigh In On P3 Health Partners

A hedge fund recently bought a new position in P3 Health Partners stock. Lido Advisors LLC purchased a new position in P3 Health Partners Inc. (NASDAQ:PIII) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 10,748 shares of the company’s stock, valued at approximately $33,000. Lido Advisors LLC owned approximately 0.15% of P3 Health Partners as of its most recent SEC filing. 7.75% of the stock is currently owned by institutional investors.

P3 Health Partners Company Profile

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.