Posted by admin on May 19th, 2022
Purple Innovation, Inc. (NASDAQ:PRPL – Get Rating) Director Coliseum Capital Management, L acquired 2,083,347 shares of Purple Innovation stock in a transaction that occurred on Monday, May 16th. The shares were purchased at an average cost of $4.68 per share, for a total transaction of $9,750,063.96. Following the purchase, the director now directly owns 37,110,072 shares of the company’s stock, valued at approximately $173,675,136.96. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Coliseum Capital Management, L also recently made the following trade(s):
Shares of PRPL stock opened at $4.76 on Thursday. The firm has a fifty day simple moving average of $5.55 and a 200-day simple moving average of $8.78. The company has a market capitalization of $318.78 million, a PE ratio of -7.10 and a beta of 1.74. Purple Innovation, Inc. has a twelve month low of $2.99 and a twelve month high of $31.55. The company has a current ratio of 1.89, a quick ratio of 0.94 and a debt-to-equity ratio of 0.17.
Purple Innovation (NASDAQ:PRPL – Get Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.11. The firm had revenue of $143.18 million for the quarter, compared to analyst estimates of $130.12 million. Purple Innovation had a negative net margin of 4.44% and a negative return on equity of 23.87%. The firm’s revenue was down 23.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.17 EPS. Equities research analysts predict that Purple Innovation, Inc. will post -0.14 EPS for the current year.
Institutional investors and hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. acquired a new stake in Purple Innovation in the fourth quarter valued at $2,362,000. Wasatch Advisors Inc. lifted its position in shares of Purple Innovation by 29.0% during the third quarter. Wasatch Advisors Inc. now owns 7,233,644 shares of the company’s stock worth $152,051,000 after purchasing an additional 1,627,651 shares during the last quarter. Alberta Investment Management Corp acquired a new position in Purple Innovation in the third quarter worth about $3,784,000. Stony Point Capital LLC grew its stake in Purple Innovation by 87.0% in the third quarter. Stony Point Capital LLC now owns 503,277 shares of the company’s stock worth $10,579,000 after purchasing an additional 234,113 shares in the last quarter. Finally, Putnam Investments LLC increased its holdings in Purple Innovation by 3.0% in the third quarter. Putnam Investments LLC now owns 114,393 shares of the company’s stock valued at $2,405,000 after buying an additional 3,300 shares during the last quarter.
A number of research firms have weighed in on PRPL. UBS Group cut their price target on shares of Purple Innovation from $10.00 to $6.50 and set a “neutral” rating on the stock in a research note on Wednesday, March 2nd. Oppenheimer reduced their target price on Purple Innovation from $45.00 to $12.00 in a report on Friday, May 13th. Bank of America dropped their price target on Purple Innovation from $5.50 to $4.50 and set an “underperform” rating for the company in a research note on Wednesday, March 2nd. Zacks Investment Research raised Purple Innovation from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 12th. Finally, KeyCorp dropped their target price on shares of Purple Innovation from $16.00 to $15.00 and set an “overweight” rating for the company in a research report on Monday, March 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $14.36.
Purple Innovation Company Profile (Get Rating)
Purple Innovation, Inc designs and manufactures mattresses, pillows, and cushions. The company also offers bases, foundations, sheets, mattress protectors, bed frames, seat cushions, weighted blankets, and duvets, as well as pet beds. It markets and sells its products through its e-commerce online channels retail brick-and-mortar wholesale partners, and third-party online retailers, as well as through Purple retail showrooms.
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