Royal Bank of Canada Grows Stock Holdings in People Incorporated Common Stock $PPLI

Royal Bank of Canada increased its position in shares of People Incorporated Common Stock (NASDAQ:PPLI) by 5.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 458,414 shares of the company’s stock after purchasing an additional 25,423 shares during the period. Royal Bank of Canada’s holdings in People Incorporated Common Stock were worth $18,350,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Bank of Montreal Can raised its stake in People Incorporated Common Stock by 42,721.4% in the fourth quarter. Bank of Montreal Can now owns 3,128,104 shares of the company’s stock valued at $122,309,000 after buying an additional 3,120,799 shares in the last quarter. Aristeia Capital L.L.C. increased its holdings 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. Boston Partners acquired a new stake in shares of People Incorporated Common Stock during the 4th quarter worth about $29,114,000. Empyrean Capital Partners LP acquired a new stake in shares of People Incorporated Common Stock during the 4th quarter worth about $26,471,000. Finally, Corvex Management LP lifted its stake in People Incorporated Common Stock by 20.3% during the fourth quarter. Corvex Management LP now owns 3,355,075 shares of the company’s stock worth $131,183,000 after purchasing an additional 566,696 shares during the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

People Incorporated Common Stock Price Performance

Shares of NASDAQ PPLI opened at $42.94 on Friday. The stock has a market cap of $2.95 billion, a P/E ratio of 9.58 and a beta of 1.04. People Incorporated Common Stock has a twelve month low of $29.56 and a twelve month high of $48.32. The stock has a 50 day moving average of $43.89 and a two-hundred day moving average of $41.10. The company has a current ratio of 3.69, a quick ratio of 3.69 and a debt-to-equity ratio of 0.27.

People Incorporated Common Stock (NASDAQ:PPLI) last announced its earnings results on Monday, August 3rd. The company reported $6.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $7.08. The business had revenue of $436.74 million for the quarter, compared to analyst estimates of $433.77 million. People Incorporated Common Stock had a net margin of 16.05% and a return on equity of 8.48%. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the firm posted $2.57 earnings per share. On average, research analysts forecast that People Incorporated Common Stock will post -0.23 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on PPLI. KeyCorp increased 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 note on Thursday, April 23rd. Benchmark upped their target price on shares of People Incorporated Common Stock from $60.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday. Piper Sandler set a $52.00 price target on shares of People Incorporated Common Stock in a research note on Thursday, May 7th. 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. Finally, UBS Group raised their price objective on People Incorporated Common Stock from $49.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday. Nine analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, People Incorporated Common Stock currently has an average rating of “Moderate Buy” and an average price target of $55.62.

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.