Corvex Management LP Boosts Stock Position in People Incorporated Common Stock $PPLI

Corvex Management LP increased its position in shares of People Incorporated Common Stock (NASDAQ:PPLI) by 20.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,355,075 shares of the company’s stock after buying an additional 566,696 shares during the period. People Incorporated Common Stock comprises approximately 4.0% of Corvex Management LP’s holdings, making the stock its 10th largest holding. Corvex Management LP’s holdings in People Incorporated Common Stock were worth $131,183,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Tudor Investment Corp ET AL purchased a new position in People Incorporated Common Stock during the 3rd quarter valued at about $6,050,000. UBS Group AG raised its holdings in shares of People Incorporated Common Stock by 11.4% in the 4th quarter. UBS Group AG now owns 781,195 shares of the company’s stock valued at $30,545,000 after purchasing an additional 79,755 shares in the last quarter. Highbridge Capital Management LLC lifted its position in shares of People Incorporated Common Stock by 68.9% in the 3rd quarter. Highbridge Capital Management LLC now owns 484,325 shares of the company’s stock worth $16,501,000 after purchasing an additional 197,590 shares during the period. Yakira Capital Management Inc. boosted its stake in shares of People Incorporated Common Stock by 24.8% during the third quarter. Yakira Capital Management Inc. now owns 223,078 shares of the company’s stock valued at $7,600,000 after purchasing an additional 44,267 shares in the last quarter. Finally, Davis Selected Advisers boosted its stake in shares of People Incorporated Common Stock by 12.1% during the fourth quarter. Davis Selected Advisers now owns 2,514,072 shares of the company’s stock valued at $98,301,000 after purchasing an additional 270,383 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors.

People Incorporated Common Stock Trading Down 1.5%

NASDAQ:PPLI opened at $42.38 on Thursday. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of 114.54 and a beta of 1.02. People Incorporated Common Stock has a 52 week low of $29.56 and a 52 week high of $46.33. The company has a quick ratio of 3.69, a current ratio of 3.69 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average of $42.58 and a 200 day moving average of $39.67.

Analyst Ratings Changes

Several brokerages recently issued reports on PPLI. Needham & Company LLC set a $57.00 price objective on shares of People Incorporated Common Stock in a report on Tuesday, March 3rd. Jefferies Financial Group cut People Incorporated Common Stock from a “buy” rating to a “hold” rating and set a $44.00 target price on the stock. in a research report on Wednesday, May 6th. Benchmark reiterated a “buy” rating on shares of People Incorporated Common Stock in a report on Tuesday, June 2nd. Wall Street Zen lowered People Incorporated Common Stock from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Zacks Research raised People Incorporated Common Stock from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 11th. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $53.62.

About People Incorporated Common Stock

IAC (NASDAQ: IAC) is a publicly traded holding company headquartered in New York City that builds and invests in consumer-focused internet businesses. Through its portfolio of digital media brands, online marketplaces and subscription services, IAC delivers content and connections across a range of verticals, including lifestyle, finance, home services and personal care. The company’s operations span North America and parts of Europe, where its brands reach millions of visitors each month.

In the digital publishing space, IAC’s Dotdash Meredith division develops original content and data‐driven journalism across more than a dozen specialty sites.