Midwest Financial Group LLC Makes New Investment in Purple Innovation, Inc. $PRPL

Midwest Financial Group LLC acquired a new stake in Purple Innovation, Inc. (NASDAQ:PRPL) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 115,000 shares of the company’s stock, valued at approximately $84,000. Midwest Financial Group LLC owned approximately 0.11% of Purple Innovation at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. AQR Capital Management LLC bought a new position in Purple Innovation in the 1st quarter valued at about $28,000. Bank of America Corp DE raised its stake 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 worth $44,000 after purchasing an additional 17,406 shares during the last quarter. Crumly & Associates Inc. lifted its holdings in shares of Purple Innovation by 100.2% in the first quarter. Crumly & Associates Inc. now owns 163,663 shares of the company’s stock valued at $124,000 after purchasing an additional 81,900 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Purple Innovation by 219.7% in the fourth quarter. Squarepoint Ops LLC now owns 178,052 shares of the company’s stock valued at $139,000 after purchasing an additional 122,358 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of Purple Innovation during the first quarter valued at approximately $173,000. 88.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen raised Purple Innovation from a “sell” rating to a “hold” rating in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $1.00.

Purple Innovation Price Performance

Shares of NASDAQ PRPL opened at $0.93 on Wednesday. The company has a market capitalization of $101.28 million, a PE ratio of -1.20 and a beta of 1.57. The company has a quick ratio of 0.77, a current ratio of 1.49 and a debt-to-equity ratio of 54.69. The stock’s 50 day moving average price is $1.00 and its 200-day moving average price is $0.83. Purple Innovation, Inc. has a twelve month low of $0.56 and a twelve month high of $1.29.

Purple Innovation (NASDAQ:PRPL) last issued its quarterly earnings results on Tuesday, July 29th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. The company had revenue of $105.10 million during the quarter, compared to the consensus estimate of $103.69 million. Purple Innovation had a negative return on equity of 472.12% and a negative net margin of 18.43%. Purple Innovation has set its FY 2025 guidance at EPS. On average, equities 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.