Y Intercept Hong Kong Ltd Purchases Shares of 136,254 Purple Innovation, Inc. $PRPL

Y Intercept Hong Kong Ltd acquired a new position in shares of Purple Innovation, Inc. (NASDAQ:PRPL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 136,254 shares of the company’s stock, valued at approximately $99,000. Y Intercept Hong Kong Ltd owned approximately 0.13% of Purple Innovation at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC purchased a new stake in Purple Innovation in the first quarter valued at approximately $28,000. Bank of America Corp DE grew its stake in Purple Innovation by 45.1% in the 4th quarter. Bank of America Corp DE now owns 55,984 shares of the company’s stock worth $44,000 after buying an additional 17,406 shares in the last quarter. Midwest Financial Group LLC bought a new position in shares of Purple Innovation in the 2nd quarter worth $84,000. Nuveen LLC bought a new position in shares of Purple Innovation in the 1st quarter worth $173,000. Finally, Crumly & Associates Inc. raised its position in shares of Purple Innovation by 55.6% during the 2nd quarter. Crumly & Associates Inc. now owns 254,613 shares of the company’s stock valued at $186,000 after buying an additional 90,950 shares in the last quarter. 88.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wall Street Zen raised shares of Purple Innovation from a “sell” rating to a “hold” rating in a report on Friday, August 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of Purple Innovation in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Purple Innovation presently has a consensus 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. Purple Innovation, Inc. has a fifty-two week low of $0.56 and a fifty-two week high of $1.29. The firm has a market cap of $89.97 million, a price-to-earnings ratio of -1.57 and a beta of 1.78. The firm has a 50 day moving average price of $0.94 and a 200-day moving average price of $0.86. The company has a debt-to-equity ratio of 54.69, a quick ratio of 0.73 and a current ratio of 1.40.

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

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.