P3 Health Partners Inc. (NASDAQ:PIII) Sees Large Drop in Short Interest

P3 Health Partners Inc. (NASDAQ:PIII) was the recipient of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totaling 13,637 shares, a decrease of 50.4% from the September 15th total of 27,498 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 10,090 shares, the days-to-cover ratio is presently 1.4 days.

P3 Health Partners Stock Performance

PIII traded up $0.34 during midday trading on Wednesday, hitting $4.37. The company had a trading volume of 42,099 shares, compared to its average volume of 444,779. The company has a market capitalization of $31.73 million, a PE ratio of -0.13 and a beta of 1.70. The firm’s 50-day simple moving average is $8.53 and its 200-day simple moving average is $8.30. P3 Health Partners has a twelve month low of $1.52 and a twelve month high of $16.89.

P3 Health Partners (NASDAQ:PIII) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.89) by $1.26. The firm had revenue of $386.38 million for the quarter, compared to analyst estimates of $377.80 million.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wall Street Zen raised P3 Health Partners to a “hold” rating in a report on Saturday, July 4th. Lake Street Capital reaffirmed a “buy” rating and set a $23.00 price target on shares of P3 Health Partners in a report on Tuesday, August 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of P3 Health Partners in a research report on Tuesday, August 25th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $17.00.

Insider Buying and Selling at P3 Health Partners

In other news, major shareholder Hudson Vegas Investment Spv, L sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $16.48, for a total transaction of $824,000.00. Following the completion of the sale, the insider owned 48,959 shares of the company’s stock, valued at approximately $806,844.32. This trade represents a 50.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 10.86% of the company’s stock.

Institutional Trading of P3 Health Partners

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

About P3 Health Partners

P3 Health Partners Inc is a physician-led healthcare organization focused on value-based care for older adults, particularly beneficiaries enrolled in Medicare Advantage plans. The company works with primary care physicians, health plans and other healthcare providers to coordinate services and improve patient outcomes while managing the overall cost of care.

P3 supports its network through primary care services, care coordination, clinical programs and technology-enabled population health management.