QRG Capital Management Inc. Reduces Holdings in People Incorporated Common Stock $PPLI

QRG Capital Management Inc. lowered its position in shares of People Incorporated Common Stock (NASDAQ:PPLI) by 77.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,420 shares of the company’s stock after selling 36,141 shares during the period. QRG Capital Management Inc.’s holdings in People Incorporated Common Stock were worth $417,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PPLI. Aristeia Capital L.L.C. lifted its holdings in People Incorporated Common Stock by 100.7% in the 4th quarter. Aristeia Capital L.L.C. now owns 5,702,459 shares of the company’s stock worth $222,966,000 after buying an additional 2,861,871 shares in the last quarter. Corvex Management LP boosted its position in People Incorporated Common Stock by 20.3% in the 4th quarter. Corvex Management LP now owns 3,355,075 shares of the company’s stock valued at $131,183,000 after buying an additional 566,696 shares during the last quarter. Bank of Montreal Can grew its stake in shares of People Incorporated Common Stock by 42,721.4% during the fourth quarter. Bank of Montreal Can now owns 3,128,104 shares of the company’s stock valued at $122,309,000 after acquiring an additional 3,120,799 shares in the last quarter. Davis Selected Advisers grew 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 acquiring an additional 270,383 shares in the last quarter. Finally, Patient Capital Management LLC increased its position in shares of People Incorporated Common Stock by 12.6% during the fourth quarter. Patient Capital Management LLC now owns 2,374,050 shares of the company’s stock worth $92,825,000 after acquiring an additional 265,805 shares during the last quarter. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

People Incorporated Common Stock Trading Down 2.1%

NASDAQ:PPLI opened at $46.50 on Friday. The company has a market cap of $3.19 billion, a PE ratio of 125.68 and a beta of 1.02. The business’s 50 day moving average is $43.26 and its two-hundred day moving average is $40.56. The company has a quick ratio of 3.69, a current ratio of 3.69 and a debt-to-equity ratio of 0.30. People Incorporated Common Stock has a 52 week low of $29.56 and a 52 week high of $48.32.

Analyst Ratings Changes

Several research analysts recently commented on PPLI shares. Weiss Ratings upgraded People Incorporated Common Stock from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, June 29th. KeyCorp raised their price objective on People Incorporated Common Stock from $41.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. TD Cowen lifted their price objective on People Incorporated Common Stock from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Piper Sandler set a $52.00 target price on People Incorporated Common Stock in a research report on Thursday, May 7th. Finally, Barclays increased their target price on People Incorporated Common Stock from $48.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Eight analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.62.

People Incorporated Common Stock Profile

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.