Purple Innovation, Inc. (NASDAQ:PRPL – Get Rating) was the target of some unusual options trading activity on Monday. Stock traders purchased 5,157 call options on the company. This represents an 853% increase over the average daily volume of 541 call options.
Insider activity at Purple Innovation
In other Purple Innovation news, Director Gary T. Dicamillo acquired 10,000 shares of the company’s stock in a transaction that took place on Wednesday, September 7th. The stock was purchased at an average price of $2.66 per share for a total value of $26,600.00. Upon completion of the purchase, the Director now owns 113,083 shares of the Company, valued at $300,800.78. The transaction was disclosed in a filing with the Securities & Exchange Commission available at this hyperlink. 35.04% of the shares are owned by company insiders.
Institutional trading with Purple Innovation
Several institutional investors and hedge funds have recently changed their positions in PRPL. Cetera Investment Advisers acquired a new stake in Purple Innovation stock valued at approximately $31,000 during the second quarter. Crumly & Associates Inc. acquired a new interest in Purple Innovation for approximately $41,000 during the second quarter. Strs Ohio acquired a new position in Purple Innovation for approximately $50,000 during the first quarter. Mirae Asset Global Investments Co.Ltd. acquired a new position in Purple Innovation stock valued at $50,000 during the second quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in Purple Innovation stock valued at approximately $52,000 during the first quarter.
Wall Street analyst ponders
A number of research companies have issued reports on PRPL. KeyCorp set a price target of $10.00 for shares of Purple Innovation in a research report on Tuesday, July 19th. Oppenheimer lowered its target price on shares of Purple Innovation to $8.00 in a research report on Monday, August 22. One investment analyst has rated the stock with a sell rating, six with a hold rating and two with a buy rating. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target of $8.67.
Purple Innovation Trading up 39.1%
Shares of NASDAQ PRPL rose $1.09 on Monday lunchtime to hit $3.88. 1,042,673 shares of the stock were exchanged compared to an average volume of 1,870,781. The stock has a market cap of $322.40 million, a P/E of -5.26 and a beta of 1.91. The company has a debt to equity ratio of 0.17, a quick ratio of 0.95 and a current ratio of 1.91. Purple Innovation has a 12-month low of $2.65 and a 12-month high of $23.13. The company has a 50-day simple moving average of $3.37 and a 200-day simple moving average of $4.49.
Purple Innovation (NASDAQ:PRPL – Get Rating) last posted its earnings results on Tuesday, August 9th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analyst consensus estimates of ($0.05) by ($0.06). Purple Innovation had a negative return on equity of 28.60% and a negative net margin of 6.39%. The company had revenue of $144.10 million for the quarter, compared to analyst estimates of $155.79 million. In the same quarter last year, the company generated earnings per share of $0.05. Purple Innovation’s quarterly sales declined 21.1% compared to the same quarter last year. As a group, equity analysts expect Purple Innovation to report year-to-date earnings per share of -0.45.
Company profile of Purple Innovation
Purple Innovation, Inc designs and manufactures mattresses, pillows and pillows. The company also offers bases, foundations, sheets, mattress protectors, bed frames, seat cushions, weighted blankets and comforters, and pet beds. It markets and sells its products through its online e-commerce channels, brick-and-mortar wholesale partners and third-party online retailers, and Purple retail showrooms.
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