Y Intercept Hong Kong Ltd Takes $99,000 Position in Purple Innovation, Inc. $PRPL

Y Intercept Hong Kong Ltd bought a new position in Purple Innovation, Inc. (NASDAQ:PRPL) during the 2nd quarter, Holdings Channel.com reports. The firm bought 136,254 shares of the company’s stock, valued at approximately $99,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC purchased a new stake in Purple Innovation during the 1st quarter valued at $28,000. Bank of America Corp DE increased its position in shares of Purple Innovation by 45.1% in the fourth quarter. Bank of America Corp DE now owns 55,984 shares of the company’s stock valued at $44,000 after acquiring an additional 17,406 shares during the period. Midwest Financial Group LLC purchased a new position in shares of Purple Innovation in the second quarter valued at about $84,000. Nuveen LLC bought a new position in shares of Purple Innovation during the first quarter valued at about $173,000. Finally, Crumly & Associates Inc. boosted its holdings in shares of Purple Innovation by 55.6% during the second quarter. Crumly & Associates Inc. now owns 254,613 shares of the company’s stock worth $186,000 after purchasing an additional 90,950 shares during the period. 88.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PRPL shares. Wall Street Zen raised Purple Innovation from a “sell” rating to a “hold” rating in a research note on Friday, August 22nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Purple Innovation in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $1.00.

Purple Innovation Trading Up 18.5%

Shares of PRPL opened at $0.83 on Monday. The firm’s 50-day moving average price is $0.94 and its 200-day moving average price is $0.86. The firm has a market capitalization of $89.97 million, a price-to-earnings ratio of -1.57 and a beta of 1.78. The company has a current ratio of 1.40, a quick ratio of 0.73 and a debt-to-equity ratio of 54.69. Purple Innovation, Inc. has a 1-year low of $0.56 and a 1-year high of $1.29.

Purple Innovation (NASDAQ:PRPL) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. Purple Innovation had a negative net margin of 12.40% and a negative return on equity of 472.12%. The company had revenue of $118.77 million during the quarter, compared to the consensus estimate of $123.21 million. Purple Innovation has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Purple Innovation, Inc. will post -0.47 EPS for the current year.

About Purple Innovation

Purple Innovation, Inc designs and manufactures sleep and other products in the United States and internationally. The company offers mattresses, pillows, cushions, bases, sheets, platforms, adjustable bases, mattress protectors, foundations, blankets, duvets, duvet covers, seat cushions, and pet beds under the Purple brand.