P3 Health Partners (NASDAQ:PIII) Releases Earnings Results, Misses Expectations By $0.28 EPS

P3 Health Partners (NASDAQ:PIII) announced its quarterly earnings results on Tuesday. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.28), reports. The firm had revenue of $362.12 million during the quarter, compared to analyst estimates of $368.60 million. P3 Health Partners had a negative net margin of 6.95% and a negative return on equity of 67.63%.

P3 Health Partners Trading Down 16.2 %

PIII opened at $0.21 on Friday. The firm’s fifty day moving average is $0.40 and its two-hundred day moving average is $0.51. The firm has a market cap of $74.91 million, a PE ratio of -0.25 and a beta of 1.15. P3 Health Partners has a twelve month low of $0.21 and a twelve month high of $1.78. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.69 and a current ratio of 0.69.

Insider Activity

In related news, major shareholder Pacific Founders Ugp I. Chicago purchased 80,000 shares of P3 Health Partners stock in a transaction dated Wednesday, September 4th. The stock was bought at an average price of $0.49 per share, for a total transaction of $39,200.00. Following the completion of the acquisition, the insider now directly owns 76,625,438 shares of the company’s stock, valued at $37,546,464.62. This represents a 0.10 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought 400,000 shares of company stock valued at $205,600 in the last quarter. Company insiders own 17.86% of the company’s stock.

Hedge Funds Weigh In On P3 Health Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its holdings in shares of P3 Health Partners by 188.1% in the second quarter. Renaissance Technologies LLC now owns 111,800 shares of the company’s stock valued at $50,000 after purchasing an additional 73,000 shares in the last quarter. Sanders Morris Harris LLC raised its position in P3 Health Partners by 16.3% in the 2nd quarter. Sanders Morris Harris LLC now owns 142,998 shares of the company’s stock valued at $64,000 after buying an additional 20,000 shares during the last quarter. Emfo LLC lifted its stake in P3 Health Partners by 39.8% in the 2nd quarter. Emfo LLC now owns 1,427,689 shares of the company’s stock valued at $643,000 after acquiring an additional 406,418 shares in the last quarter. Finally, Armistice Capital LLC acquired a new position in P3 Health Partners during the 2nd quarter worth approximately $3,557,000. 7.75% of the stock is owned by institutional investors and hedge funds.

P3 Health Partners Company 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.