OP Asset Management Ltd Purchases New Position in People Incorporated Common Stock $PPLI

OP Asset Management Ltd bought a new stake in People Incorporated Common Stock (NASDAQ:PPLI) in the first quarter, HoldingsChannel reports. The fund bought 47,938 shares of the company’s stock, valued at approximately $1,919,000.

A number of other hedge funds have also recently added to or reduced their stakes in PPLI. Rockefeller Capital Management L.P. lifted its stake in People Incorporated Common Stock by 251.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,937 shares of the company’s stock valued at $76,000 after buying an additional 1,386 shares during the last quarter. Corient Private Wealth LLC increased its holdings in shares of People Incorporated Common Stock by 64.3% in the 4th quarter. Corient Private Wealth LLC now owns 16,076 shares of the company’s stock valued at $629,000 after acquiring an additional 6,292 shares during the period. Flax Pond Capital LLC purchased a new stake in People Incorporated Common Stock in the 4th quarter valued at $3,898,000. Mercer Global Advisors Inc. ADV raised its position in People Incorporated Common Stock by 8.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 16,703 shares of the company’s stock valued at $653,000 after purchasing an additional 1,247 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in People Incorporated Common Stock by 29.1% during the 4th quarter. Mackenzie Financial Corp now owns 18,460 shares of the company’s stock worth $729,000 after purchasing an additional 4,160 shares during the period. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PPLI shares. KeyCorp raised their price objective on shares of People Incorporated Common Stock from $41.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. The Goldman Sachs Group increased their target price on shares of People Incorporated Common Stock from $48.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. TD Cowen raised their price target 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. Zacks Research upgraded People Incorporated Common Stock from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 11th. Finally, Barclays upped their price objective 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 given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $53.62.

People Incorporated Common Stock Price Performance

PPLI stock opened at $44.77 on Monday. The stock has a market capitalization of $3.07 billion, a PE ratio of 121.00 and a beta of 1.02. The company has a fifty day moving average of $42.78 and a 200-day moving average of $39.99. The company has a debt-to-equity ratio of 0.30, a quick ratio of 3.69 and a current ratio of 3.69. People Incorporated Common Stock has a one year low of $29.56 and a one year high of $46.33.

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.