Mercer Global Advisors Inc. ADV Makes New Investment in Purple Innovation, Inc. (NASDAQ:PRPL)

Mercer Global Advisors Inc. ADV bought a new position in shares of Purple Innovation, Inc. (NASDAQ:PRPLGet Rating) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 110,557 shares of the company’s stock, valued at approximately $1,467,000. Mercer Global Advisors Inc. ADV owned approximately 0.17% of Purple Innovation as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. acquired a new stake in Purple Innovation during the 4th quarter worth approximately $2,362,000. Wasatch Advisors Inc. lifted its holdings in Purple Innovation by 29.0% during the 3rd quarter. Wasatch Advisors Inc. now owns 7,233,644 shares of the company’s stock worth $152,051,000 after buying an additional 1,627,651 shares in the last quarter. Alberta Investment Management Corp purchased a new stake in shares of Purple Innovation in the 3rd quarter valued at approximately $3,784,000. Lord Abbett & CO. LLC increased its position in shares of Purple Innovation by 4.0% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,496,222 shares of the company’s stock valued at $31,451,000 after purchasing an additional 56,952 shares during the last quarter. Finally, Stony Point Capital LLC increased its position in shares of Purple Innovation by 87.0% in the 3rd quarter. Stony Point Capital LLC now owns 503,277 shares of the company’s stock valued at $10,579,000 after purchasing an additional 234,113 shares during the last quarter.

PRPL opened at $4.81 on Friday. The business has a 50 day moving average price of $6.35 and a two-hundred day moving average price of $10.81. The company has a quick ratio of 0.92, a current ratio of 1.62 and a debt-to-equity ratio of 0.64. The company has a market cap of $322.12 million, a PE ratio of -16.03 and a beta of 1.63. Purple Innovation, Inc. has a 52 week low of $4.73 and a 52 week high of $36.44.

Purple Innovation (NASDAQ:PRPLGet Rating) last posted its quarterly earnings data on Tuesday, March 1st. The company reported ($0.35) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.09). The company had revenue of $186.40 million for the quarter, compared to analysts’ expectations of $178.99 million. Purple Innovation had a net margin of 0.56% and a negative return on equity of 8.41%. The firm’s revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.07 earnings per share. As a group, sell-side analysts expect that Purple Innovation, Inc. will post -0.1 EPS for the current fiscal year.

In other Purple Innovation news, Director Coliseum Capital Management, L bought 1,797,545 shares of the company’s stock in a transaction on Thursday, March 3rd. The shares were bought at an average price of $7.23 per share, for a total transaction of $12,996,250.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have acquired a total of 3,907,545 shares of company stock worth $27,392,550 in the last quarter. 35.04% of the stock is currently owned by insiders.

A number of brokerages recently weighed in on PRPL. UBS Group reduced their price target on shares of Purple Innovation from $10.00 to $6.50 and set a “neutral” rating for the company in a research report on Wednesday, March 2nd. Bank of America reduced their target price on Purple Innovation from $5.50 to $4.50 and set an “underperform” rating for the company in a report on Wednesday, March 2nd. KeyCorp reduced their target price on Purple Innovation from $16.00 to $15.00 and set an “overweight” rating for the company in a report on Monday, March 28th. Roth Capital downgraded Purple Innovation from a “buy” rating to a “neutral” rating and reduced their target price for the company from $10.00 to $6.00 in a report on Wednesday, March 2nd. Finally, B. Riley reduced their target price on Purple Innovation from $9.00 to $6.00 and set a “neutral” rating for the company in a report on Wednesday, March 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $17.36.

Purple Innovation Profile (Get Rating)

Purple Innovation, Inc designs and manufactures mattresses, pillows, and cushions. The company also offers bases, foundations, sheets, mattress protectors, bed frames, seat cushions, weighted blankets, and duvets, as well as pet beds. It markets and sells its products through its e-commerce online channels retail brick-and-mortar wholesale partners, and third-party online retailers, as well as through Purple retail showrooms.

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Institutional Ownership by Quarter for Purple Innovation (NASDAQ:PRPL)

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