Empyrean Capital Partners LP Acquires 143,000 Shares of People Incorporated Common Stock $PPLI

Empyrean Capital Partners LP grew its stake in People Incorporated Common Stock (NASDAQ:PPLI) by 21.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 820,000 shares of the company’s stock after buying an additional 143,000 shares during the period. People Incorporated Common Stock makes up about 1.1% of Empyrean Capital Partners LP’s holdings, making the stock its 27th biggest holding. Empyrean Capital Partners LP’s holdings in People Incorporated Common Stock were worth $32,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. UBS Group AG raised its holdings in shares of People Incorporated Common Stock by 11.4% during the 4th quarter. UBS Group AG now owns 781,195 shares of the company’s stock valued at $30,545,000 after buying an additional 79,755 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in People Incorporated Common Stock in the third quarter worth approximately $6,050,000. Davis Selected Advisers boosted its stake in People Incorporated Common Stock by 12.1% in the fourth quarter. Davis Selected Advisers now owns 2,514,072 shares of the company’s stock worth $98,301,000 after buying an additional 270,383 shares in the last quarter. Factorial Partners LLC grew its position in People Incorporated Common Stock by 41.2% during the fourth quarter. Factorial Partners LLC now owns 48,000 shares of the company’s stock valued at $1,877,000 after acquiring an additional 14,000 shares during the last quarter. Finally, Brooktree Capital Management grew its position in People Incorporated Common Stock by 9.6% during the fourth quarter. Brooktree Capital Management now owns 320,899 shares of the company’s stock valued at $12,547,000 after acquiring an additional 28,221 shares during the last quarter. Institutional investors own 88.90% of the company’s stock.

People Incorporated Common Stock Stock Up 1.6%

Shares of NASDAQ PPLI opened at $42.34 on Tuesday. The firm has a fifty day simple moving average of $43.79 and a two-hundred day simple 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. The company has a current ratio of 3.69, a quick ratio of 3.69 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $2.90 billion, a PE ratio of 114.44 and a beta of 1.02.

Wall Street Analyst Weigh In

Several research firms have weighed in on PPLI. Benchmark reissued a “buy” rating on shares of People Incorporated Common Stock in a research note on Tuesday, June 2nd. TD Cowen raised their price objective on People Incorporated Common Stock from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. lifted their price objective on People Incorporated Common Stock from $46.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Piper Sandler set a $52.00 target price on People Incorporated Common Stock in a research note on Thursday, May 7th. Finally, KeyCorp increased their target price on People Incorporated Common Stock from $41.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.62.

People Incorporated Common Stock Company 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.