PRPL - Purple Innovation stock edges higher; directors buy shares worth ~$46.8M

Purple Innovation (NASDAQ:PRPL) stock edged 8% higher a couple of days after the mattress maker disclosed that its directors bought ~6.5M shares at $6.49-7.65 worth ~$46.8M. Director and 10% owner Coliseum Capital Management bought 6.47M shares at $6.49-7.65 in 3 separate transactions. Director Dawn Zier bought 20K shares at $6.95, following which she now holds 24.4K shares in PRPL. PRPL also disclosed that CEO Robert DeMartini converted 7.9K restricted stock units into stock on a 1-for-1 basis.

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Purple Innovation stock edges higher; directors buy shares worth ~$46.8M