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

P3 Health Partners Inc. (NASDAQ:PIII) was the target of a significant decrease in short interest in 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. Approximately 0.2% of the shares of the company are short sold. Based on an average daily volume of 10,090 shares, the days-to-cover ratio is currently 1.4 days.

Insider Activity at P3 Health Partners

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

Institutional Investors Weigh In On P3 Health Partners

An institutional investor recently bought a new stake in P3 Health Partners stock. Lido Advisors LLC bought a new position in shares of P3 Health Partners Inc. (NASDAQ:PIII) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 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. Institutional investors and hedge funds own 7.75% of the company’s stock.

P3 Health Partners Price Performance

Shares of P3 Health Partners stock traded up $0.34 during midday trading on Wednesday, hitting $4.37. 42,099 shares of the company were exchanged, compared to its average volume of 444,779. The firm has a 50 day simple moving average of $8.53 and a 200-day simple moving average of $8.30. The firm has a market cap of $31.73 million, a P/E ratio of -0.13 and a beta of 1.70. P3 Health Partners has a 52 week low of $1.52 and a 52 week high of $16.89.

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 analysts’ consensus estimates of ($1.89) by $1.26. The company had revenue of $386.38 million during the quarter, compared to the consensus estimate of $377.80 million.

Analysts Set New Price Targets

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

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.