Harspring Capital Management LLC Cuts Stock Holdings in People Incorporated Common Stock $PPLI

Harspring Capital Management LLC reduced its stake in shares of People Incorporated Common Stock (NASDAQ:PPLI) by 22.2% during the first quarter, Holdings Channel reports. The institutional investor owned 245,000 shares of the company’s stock after selling 70,000 shares during the quarter. People Incorporated Common Stock comprises 5.2% of Harspring Capital Management LLC’s portfolio, making the stock its 11th biggest holding. Harspring Capital Management LLC’s holdings in People Incorporated Common Stock were worth $9,807,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Aristeia Capital L.L.C. lifted its stake in shares of 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 valued at $222,966,000 after acquiring an additional 2,861,871 shares during the last quarter. Corvex Management LP boosted its holdings in People Incorporated Common Stock by 20.3% during the 4th quarter. Corvex Management LP now owns 3,355,075 shares of the company’s stock valued at $131,183,000 after acquiring an additional 566,696 shares during the period. Bank of Montreal Can grew its position in People Incorporated Common Stock by 42,721.4% during the 4th quarter. Bank of Montreal Can now owns 3,128,104 shares of the company’s stock worth $122,309,000 after acquiring an additional 3,120,799 shares during the last quarter. Davis Selected Advisers grew its position in People Incorporated Common Stock by 12.1% during the 4th quarter. Davis Selected Advisers now owns 2,514,072 shares of the company’s stock worth $98,301,000 after acquiring an additional 270,383 shares during the last quarter. Finally, Patient Capital Management LLC increased its stake in People Incorporated Common Stock by 12.6% in the 4th quarter. Patient Capital Management LLC now owns 2,374,050 shares of the company’s stock worth $92,825,000 after purchasing an additional 265,805 shares during the period. Hedge funds and other institutional investors own 88.90% of the company’s stock.

People Incorporated Common Stock Stock Down 1.5%

Shares of NASDAQ:PPLI opened at $43.45 on Thursday. People Incorporated Common Stock has a 1 year low of $29.56 and a 1 year high of $48.32. The company has a market cap of $2.98 billion, a PE ratio of 117.44 and a beta of 1.02. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.69 and a quick ratio of 3.69. The stock’s 50-day moving average is $43.68 and its 200 day moving average is $40.85.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PPLI shares. Piper Sandler set a $52.00 price objective on People Incorporated Common Stock in a research report on Thursday, May 7th. Jefferies Financial Group cut shares of People Incorporated Common Stock from a “buy” rating to a “hold” rating and set a $44.00 target price on the stock. in a report on Wednesday, May 6th. Citigroup lifted their target price on shares of People Incorporated Common Stock from $44.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Wall Street Zen lowered shares of People Incorporated Common Stock from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, UBS Group increased their price target on shares of People Incorporated Common Stock from $42.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Eight 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 company’s stock. According to data from MarketBeat, People Incorporated Common Stock presently has a consensus rating of “Moderate Buy” and an average target price 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.