Chicago Pacific Founders UGP, LLC, a private equity firm that owns more than 10% of P3 Health Partners (NASDAQ:PIII), bought the company’s shares for around $5.6 million. PIII stock gained more than 3% in the after-market trading session on Friday.
P3 Health is a patient-centered and physician-led population health management company.
As per the SEC filing, the firm bought 4,739,120 shares of the company at a weighted average price of $1.18 per share on April 6, 2023. The total value of its holdings now stands at about $133.02 million.
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Is PIII a Buy or a Sell?
The company’s future performance looks promising based on the launch of P3 Telehealth and more advanced Digital Health and Telehealth support platforms. Furthermore, P3 Health anticipates losses to continue declining in 2023, and the company ultimately anticipates posting a positive adjusted EBITDA in 2024. Furthermore, it continues to keep expenses under control.
Meanwhile, hedge funds reduced their exposure to the stock. Our data shows that hedge funds sold 548.1K shares of the company in the last quarter. Nevertheless, blogger sentiment remains bullish on the stock.
