Invenomic Capital Management LP Buys Shares of 795,176 Purple Innovation, Inc. (NASDAQ:PRPL)

Invenomic Capital Management LP acquired a new stake in Purple Innovation, Inc. (NASDAQ:PRPL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 795,176 shares of the company's stock, valued at approximately $620,000. Invenomic Capital Management LP owned approximately 0.74% of Purple Innovation as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its holdings in Purple Innovation by 70.2% in the 4th quarter. SG Americas Securities LLC now owns 35,272 shares of the company's stock valued at $28,000 after purchasing an additional 14,548 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Purple Innovation by 45.1% during the 4th quarter. Bank of America Corp DE now owns 55,984 shares of the company's stock worth $44,000 after acquiring an additional 17,406 shares during the period. Barclays PLC raised its holdings in shares of Purple Innovation by 283.1% during the 3rd quarter. Barclays PLC now owns 74,803 shares of the company's stock worth $74,000 after acquiring an additional 55,275 shares during the period. Townsquare Capital LLC purchased a new position in shares of Purple Innovation during the 4th quarter worth $73,000. Finally, B.O.S.S. Retirement Advisors LLC purchased a new position in shares of Purple Innovation during the 4th quarter worth $78,000. Hedge funds and other institutional investors own 88.41% of the company's stock.

Purple Innovation Trading Up 5.6%

Shares of NASDAQ PRPL traded up $0.05 during trading on Thursday, hitting $0.87. 355,616 shares of the company were exchanged, compared to its average volume of 541,119. Purple Innovation, Inc. has a 12-month low of $0.56 and a 12-month high of $1.53. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.67 and a current ratio of 1.30. The company has a fifty day moving average price of $0.72 and a 200-day moving average price of $0.86. The firm has a market capitalization of $93.82 million, a PE ratio of -0.87 and a beta of 1.62.

Purple Innovation (NASDAQ:PRPL - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.03. The business had revenue of $104.17 million for the quarter, compared to analyst estimates of $104.17 million. Purple Innovation had a negative return on equity of 84.67% and a negative net margin of 21.34%. As a group, equities research analysts expect that Purple Innovation, Inc. will post -0.47 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Wedbush reiterated a "neutral" rating and set a $1.00 price target on shares of Purple Innovation in a report on Wednesday, March 26th.

Purple Innovation Profile

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.