Invenomic Capital Management LP Acquires New Holdings in Purple Innovation, Inc. (NASDAQ:PRPL)

Invenomic Capital Management LP purchased a new stake in Purple Innovation, Inc. (NASDAQ:PRPL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 795,176 shares of the company's stock, valued at approximately $620,000. Invenomic Capital Management LP owned approximately 0.74% of Purple Innovation at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Barclays PLC lifted its holdings in shares of Purple Innovation by 14.5% in the fourth quarter. Barclays PLC now owns 85,627 shares of the company's stock valued at $67,000 after purchasing an additional 10,824 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Purple Innovation by 70.2% during the fourth quarter. SG Americas Securities LLC now owns 35,272 shares of the company's stock valued at $28,000 after buying an additional 14,548 shares during the period. Bank of America Corp DE lifted its stake in shares of Purple Innovation by 45.1% during the fourth quarter. Bank of America Corp DE now owns 55,984 shares of the company's stock valued at $44,000 after buying an additional 17,406 shares during the period. Townsquare Capital LLC purchased a new position in shares of Purple Innovation during the fourth quarter valued at approximately $73,000. Finally, B.O.S.S. Retirement Advisors LLC purchased a new position in shares of Purple Innovation during the fourth quarter valued at approximately $78,000. Hedge funds and other institutional investors own 88.41% of the company's stock.

Purple Innovation Trading Up 2.0%

Shares of Purple Innovation stock traded up $0.02 during trading hours on Friday, hitting $0.89. The company's stock had a trading volume of 332,261 shares, compared to its average volume of 542,525. Purple Innovation, Inc. has a 1-year low of $0.56 and a 1-year high of $1.50. The business has a fifty day moving average of $0.73 and a 200 day moving average of $0.86. The company has a market capitalization of $95.65 million, a PE ratio of -0.89 and a beta of 1.62. The company has a quick ratio of 0.67, a current ratio of 1.30 and a debt-to-equity ratio of 1.81.

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

Wall Street Analyst Weigh In

Separately, Wedbush reissued a "neutral" rating and set a $1.00 price objective on shares of Purple Innovation in a research note on Wednesday, March 26th.

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.