People Incorporated Common Stock (NASDAQ:PPLI) Shares Gap Up - Here's Why

Key Points

• PPLI shares gapped higher, opening at $38.64 versus a prior close of $35.93 and last trading at $39.29.
• Analyst sentiment is broadly positive: the stock has a consensus “Moderate Buy” rating and an average price target of $56.08, with recent target increases from Citizens JMP and Citigroup.
• The company beat quarterly earnings expectations with $6.68 EPS versus a projected loss of $0.40, while revenue reached $436.74 million; institutional investors own 88.9% of the shares.

People Incorporated Common Stock (NASDAQ:PPLI - Get Free Report) gapped up prior to trading on Friday. The stock had previously closed at $35.93, but opened at $38.64. People Incorporated Common Stock shares last traded at $39.29, with a volume of 240,689 shares.

Wall Street Analysts Forecast Growth

PPLI has been the subject of a number of research analyst reports. TD Cowen reiterated a "buy" rating on shares of People Incorporated Common Stock in a research report on Tuesday, August 4th. Zacks Research upgraded shares of People Incorporated Common Stock from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 6th. Citizens Jmp raised their target price on shares of People Incorporated Common Stock from $47.00 to $54.00 and gave the company a "market outperform" rating in a research note on Wednesday, August 5th. Weiss Ratings upgraded shares of People Incorporated Common Stock from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, August 5th. Finally, Citigroup boosted their price target on shares of People Incorporated Common Stock from $48.00 to $52.00 and gave the stock a "buy" rating in a research note on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $56.08.

People Incorporated Common Stock Stock Performance

The company has a 50 day simple moving average of $39.91 and a 200-day simple moving average of $41.45. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.69 and a quick ratio of 3.69. The stock has a market cap of $2.70 billion, a P/E ratio of 8.77 and a beta of 1.03.

People Incorporated Common Stock (NASDAQ:PPLI - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported $6.68 EPS for the quarter, beating the consensus estimate of ($0.40) by $7.08. The firm had revenue of $436.74 million for the quarter, compared to analyst estimates of $433.77 million. People Incorporated Common Stock had a return on equity of 8.48% and a net margin of 16.05%.The company's revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the company earned $2.57 EPS. On average, equities analysts expect that People Incorporated Common Stock will post 6.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Aristeia Capital L.L.C. boosted its position in People Incorporated Common Stock by 100.7% during 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 in the last quarter. Empyrean Capital Partners LP bought a new position in shares of People Incorporated Common Stock in the 4th quarter worth approximately $26,471,000. Corvex Management LP raised its position in shares of 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 worth $131,183,000 after acquiring an additional 566,696 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of People Incorporated Common Stock by 367.9% in the 4th quarter. BNP Paribas Financial Markets now owns 200,060 shares of the company's stock valued at $7,822,000 after purchasing an additional 157,300 shares during the period. Finally, Amundi lifted its stake in shares of People Incorporated Common Stock by 397.4% in the 1st quarter. Amundi now owns 152,304 shares of the company's stock valued at $6,097,000 after purchasing an additional 121,681 shares during the period. 88.90% of the stock is owned by hedge funds and other institutional investors.

People Incorporated Common Stock Company Profile

IAC Inc, together with its subsidiaries, operates as a media and internet company worldwide. The company publishes original and engaging digital content in the form of articles, illustrations, and videos and images across entertainment, food, home, beauty, travel, health, family, luxury, and fashion areas; and magazines related to women and lifestyle. It also operates a digital marketplace that connects home service professionals with consumers for repairing, remodeling, cleaning, landscaping, maintenance, and enhancement services under the Angi Ads, Angi Leads, and Angi Services brands.

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