People Incorporated Common Stock (NASDAQ:PPLI) Sets New 12-Month High – Here’s Why

People Incorporated Common Stock (NASDAQ:PPLI) hit a new 52-week high during trading on Monday . The stock traded as high as $46.40 and last traded at $46.37, with a volume of 1252466 shares traded. The stock had previously closed at $44.77.

Analyst Upgrades and Downgrades

PPLI has been the subject of a number of research reports. Weiss Ratings downgraded People Incorporated Common Stock from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, June 11th. Needham & Company LLC set a $57.00 price objective on shares of People Incorporated Common Stock in a research report on Tuesday, March 3rd. Zacks Research upgraded shares of People Incorporated Common Stock from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. JPMorgan Chase & Co. boosted their price objective on shares of People Incorporated Common Stock from $46.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Finally, Piper Sandler set a $52.00 target price on shares of People Incorporated Common Stock in a report on Thursday, May 7th. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, People Incorporated Common Stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.62.

People Incorporated Common Stock Trading Up 3.6%

The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of 125.33 and a beta of 1.02. The business has a 50 day simple moving average of $42.78 and a 200-day simple moving average of $39.99. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.69 and a quick ratio of 3.69.

Hedge Funds Weigh In On People Incorporated Common Stock

Several institutional investors have recently bought and sold shares of PPLI. Tudor Investment Corp ET AL purchased a new stake in People Incorporated Common Stock during the 3rd quarter valued at about $6,050,000. UBS Group AG lifted its stake in People Incorporated Common Stock by 11.4% during the fourth quarter. UBS Group AG now owns 781,195 shares of the company’s stock worth $30,545,000 after purchasing an additional 79,755 shares in the last quarter. Davis Selected Advisers increased its holdings in People Incorporated Common Stock by 12.1% in the fourth quarter. Davis Selected Advisers now owns 2,514,072 shares of the company’s stock valued at $98,301,000 after buying an additional 270,383 shares during the last quarter. 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 worth $7,600,000 after buying an additional 44,267 shares during the period. Finally, Factorial Partners LLC boosted its holdings in People Incorporated Common Stock by 41.2% during the fourth quarter. Factorial Partners LLC now owns 48,000 shares of the company’s stock worth $1,877,000 after buying an additional 14,000 shares in the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

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.