People Incorporated Common Stock $PPLI Shares Sold by QRG Capital Management Inc.

Key Points

• QRG Capital Management sharply reduced its stake in People Incorporated Common Stock, selling 36,141 shares in the first quarter and cutting its position by 77.6% to 10,420 shares worth about $417,000.
• Despite that sale, institutional ownership remains high, with 88.90% of the stock held by institutional investors and hedge funds, and several firms recently increased their positions.
• Analyst sentiment is still generally positive: the stock has an average “Moderate Buy” rating and an average target price of $53.62, even after one recent downgrade to sell.

QRG Capital Management Inc. trimmed its position in shares of People Incorporated Common Stock (NASDAQ:PPLI - Free Report) by 77.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,420 shares of the company's stock after selling 36,141 shares during the quarter. QRG Capital Management Inc.'s holdings in People Incorporated Common Stock were worth $417,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in PPLI. New Age Alpha Advisors LLC lifted its stake in shares of People Incorporated Common Stock by 3.5% in the fourth quarter. New Age Alpha Advisors LLC now owns 9,104 shares of the company's stock worth $356,000 after buying an additional 309 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of People Incorporated Common Stock by 7.9% during the 4th quarter. Franklin Resources Inc. now owns 6,439 shares of the company's stock worth $252,000 after purchasing an additional 471 shares during the last quarter. Hantz Financial Services Inc. grew its position in shares of People Incorporated Common Stock by 173.4% in the fourth quarter. Hantz Financial Services Inc. now owns 782 shares of the company's stock valued at $31,000 after purchasing an additional 496 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of People Incorporated Common Stock by 4.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 12,940 shares of the company's stock valued at $506,000 after purchasing an additional 553 shares in the last quarter. Finally, Elevation Wealth Partners LLC acquired a new stake in shares of People Incorporated Common Stock in the fourth quarter valued at approximately $25,000. 88.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PPLI has been the subject of several analyst reports. Wall Street Zen cut People Incorporated Common Stock from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Benchmark reiterated a "buy" rating on shares of People Incorporated Common Stock in a report on Tuesday, June 2nd. JPMorgan Chase & Co. boosted their price target on shares of 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. Barclays upped their price objective on shares of People Incorporated Common Stock from $48.00 to $55.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Finally, 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. Eight equities 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 stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $53.62.

People Incorporated Common Stock Stock Down 2.1%

People Incorporated Common Stock stock opened at $46.50 on Friday. The firm has a 50 day moving average price of $43.26 and a 200 day moving average price of $40.56. 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 fifty-two week low of $29.56 and a fifty-two week high of $48.32. The company has a market capitalization of $3.19 billion, a PE ratio of 125.68 and a beta of 1.02.

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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