Harspring Capital Management LLC Trims Stock Position in People Incorporated Common Stock $PPLI

Harspring Capital Management LLC decreased its position in People Incorporated Common Stock (NASDAQ:PPLI) by 35.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 315,000 shares of the company’s stock after selling 175,000 shares during the quarter. People Incorporated Common Stock accounts for 4.6% of Harspring Capital Management LLC’s portfolio, making the stock its 10th biggest holding. Harspring Capital Management LLC owned approximately 0.44% of People Incorporated Common Stock worth $12,316,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PPLI. Goldman Sachs Group Inc. increased its stake in People Incorporated Common Stock by 38.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 415,484 shares of the company’s stock worth $19,087,000 after acquiring an additional 115,652 shares during the last quarter. United Services Automobile Association bought a new stake in People Incorporated Common Stock in the 1st quarter worth approximately $207,000. Empowered Funds LLC increased its stake in People Incorporated Common Stock by 9.8% in the 1st quarter. Empowered Funds LLC now owns 8,037 shares of the company’s stock worth $369,000 after acquiring an additional 718 shares during the last quarter. Focus Partners Wealth bought a new stake in People Incorporated Common Stock in the 1st quarter worth approximately $270,000. Finally, Creative Planning increased its stake in People Incorporated Common Stock by 8.8% in the 2nd quarter. Creative Planning now owns 11,619 shares of the company’s stock worth $434,000 after acquiring an additional 944 shares during the last quarter. Institutional investors own 88.90% of the company’s stock.

People Incorporated Common Stock Price Performance

Shares of PPLI stock opened at $42.64 on Friday. People Incorporated Common Stock has a twelve month low of $29.56 and a twelve month high of $46.33. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 115.25 and a beta of 1.02. The stock has a fifty day simple moving average of $42.41 and a two-hundred day simple moving average of $39.45. The company has a current ratio of 3.69, a quick ratio of 3.69 and a debt-to-equity ratio of 0.30.

Analysts Set New Price Targets

Several research firms have recently weighed in on PPLI. Benchmark reissued a “buy” rating on shares of People Incorporated Common Stock in a research report on Tuesday, June 2nd. Wall Street Zen downgraded People Incorporated Common Stock from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Piper Sandler set a $52.00 target price on People Incorporated Common Stock in a research report on Thursday, May 7th. JPMorgan Chase & Co. boosted their target price on People Incorporated Common Stock from $46.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Finally, Barclays boosted their target price on People Incorporated Common Stock from $48.00 to $55.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Eight 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 data from MarketBeat, People Incorporated Common Stock has an average rating of “Moderate Buy” and an average target price 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.