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  "documentTitle": "Prestige Consumer Healthcare Inc. (PBH)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2020-06-30 00:00:00",
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      "text": "We observe inventory purchase obligations as a percentage of revenue increasing. This further strengthens our belief that inventory is building up and not selling-through to customers.",
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      "text": "Purchase Obligations as % of Net Sales: 32.2%",
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      "text": "We observe inventory purchase obligations as a percentage of revenue increasing. This further strengthens our belief that inventory is building up and not selling-through to customers.",
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      "text": "Source: Company filings, Spruce Point analysis",
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      "text": "Evidence Of Ballooning Inventory (cont.)",
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