Empyrean Capital Partners LP Has $32.83 Million Position in People Incorporated Common Stock $PPLI

Key Points

• Empyrean Capital Partners increased its PPLI stake by 21.1% in the first quarter, owning 820,000 shares worth approximately $32.83 million, or 1.20% of the company.
• Institutional investors and hedge funds collectively own 88.9% of PPLI, with several firms—including Rockefeller Capital Management and Hantz Financial Services—also expanding their positions.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $53.62, compared with shares recently trading at $42.34; the stock has a $29.56–$48.32 12-month range.

Empyrean Capital Partners LP lifted its holdings in shares of People Incorporated Common Stock (NASDAQ:PPLI - Free Report) by 21.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 820,000 shares of the company's stock after purchasing an additional 143,000 shares during the period. People Incorporated Common Stock accounts for about 1.1% of Empyrean Capital Partners LP's portfolio, making the stock its 27th biggest position. Empyrean Capital Partners LP owned 1.20% of People Incorporated Common Stock worth $32,825,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PPLI. Parallel Advisors LLC boosted its holdings in People Incorporated Common Stock by 61.3% in the first quarter. Parallel Advisors LLC now owns 613 shares of the company's stock worth $25,000 after acquiring an additional 233 shares in the last quarter. Hantz Financial Services Inc. raised its position in shares of People Incorporated Common Stock by 173.4% during the fourth quarter. Hantz Financial Services Inc. now owns 782 shares of the company's stock worth $31,000 after purchasing an additional 496 shares during the period. Advisory Services Network LLC acquired a new position in shares of People Incorporated Common Stock during the third quarter worth approximately $38,000. Quarry LP bought a new position in shares of People Incorporated Common Stock in the 4th quarter worth $59,000. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of People Incorporated Common Stock by 251.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,937 shares of the company's stock worth $76,000 after purchasing an additional 1,386 shares in the last quarter. Institutional investors and hedge funds own 88.90% of the company's stock.

People Incorporated Common Stock Trading Up 1.6%

Shares of PPLI stock opened at $42.34 on Tuesday. The company has a quick ratio of 3.69, a current ratio of 3.69 and a debt-to-equity ratio of 0.30. The firm has a market cap of $2.90 billion, a P/E ratio of 114.44 and a beta of 1.02. The company has a 50 day moving average of $43.79 and a 200-day moving average of $40.91. People Incorporated Common Stock has a 12-month low of $29.56 and a 12-month high of $48.32.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PPLI shares. UBS Group lifted their price objective on shares of People Incorporated Common Stock from $42.00 to $49.00 and gave the company a "neutral" rating in a report on Wednesday, May 6th. Benchmark restated a "buy" rating on shares of People Incorporated Common Stock in a report on Tuesday, June 2nd. KeyCorp raised their price target on shares of People Incorporated Common Stock from $41.00 to $51.00 and gave the company an "overweight" rating in a research report on Thursday, April 23rd. The Goldman Sachs Group lifted their price target on People Incorporated Common Stock from $48.00 to $56.00 and gave the company a "buy" rating in a research note on Tuesday, April 28th. Finally, Piper Sandler set a $52.00 price objective on 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 given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus 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.

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