No Street GP LP Cuts Stake in Purple Innovation, Inc. (NASDAQ:PRPL)

No Street GP LP cut its holdings in shares of Purple Innovation, Inc. (NASDAQ:PRPL) by 25.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,904,030 shares of the company’s stock after selling 1,645,970 shares during the period. Purple Innovation accounts for approximately 0.3% of No Street GP LP’s investment portfolio, making the stock its 27th biggest holding. No Street GP LP owned about 4.55% of Purple Innovation worth $3,825,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Barclays PLC grew its stake in Purple Innovation by 14.5% during the 4th quarter. Barclays PLC now owns 85,627 shares of the company’s stock worth $67,000 after buying an additional 10,824 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Purple Innovation by 70.2% in the fourth quarter. SG Americas Securities LLC now owns 35,272 shares of the company’s stock worth $28,000 after acquiring an additional 14,548 shares in the last quarter. Bank of America Corp DE grew 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 worth $44,000 after acquiring an additional 17,406 shares during the last quarter. Townsquare Capital LLC acquired a new position in shares of Purple Innovation during the fourth quarter valued at about $73,000. Finally, B.O.S.S. Retirement Advisors LLC acquired a new position in shares of Purple Innovation during the fourth quarter valued at about $78,000. Hedge funds and other institutional investors own 88.41% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wedbush reiterated a “neutral” rating and issued a $1.00 target price on shares of Purple Innovation in a research note on Wednesday, March 26th.

Purple Innovation Price Performance

NASDAQ PRPL opened at $0.90 on Wednesday. The company has a market cap of $97.37 million, a price-to-earnings ratio of -0.90 and a beta of 1.62. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.30 and a quick ratio of 0.67. The stock’s fifty day moving average price is $0.71 and its 200 day moving average price is $0.86. Purple Innovation, Inc. has a 1 year low of $0.56 and a 1 year high of $1.56.

Purple Innovation (NASDAQ:PRPL) last announced its quarterly earnings data 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. Purple Innovation had a negative return on equity of 84.67% and a negative net margin of 21.34%. The business had revenue of $104.17 million for the quarter, compared to analyst estimates of $104.17 million. 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.