PLBY Group (NASDAQ:PLBY) Major Shareholder Sells $2,000,000.10 in Stock

PLBY Group, Inc. (NASDAQ:PLBY) major shareholder Special Opportuniti Drawbridge sold 1,904,762 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $1.05, for a total value of $2,000,000.10. Following the completion of the transaction, the insider directly owned 177,339 shares in the company, valued at approximately $186,205.95. This represents a 91.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

PLBY Group Stock Performance

NASDAQ PLBY traded up $0.02 on Tuesday, hitting $1.50. 1,018,606 shares of the company traded hands, compared to its average volume of 1,008,477. The business’s 50 day moving average price is $1.52 and its 200-day moving average price is $1.72. PLBY Group, Inc. has a 52-week low of $1.19 and a 52-week high of $2.75. The company has a current ratio of 1.00, a quick ratio of 0.80 and a debt-to-equity ratio of 4.59. The company has a market capitalization of $173.96 million, a price-to-earnings ratio of -18.75 and a beta of 1.84.

PLBY Group (NASDAQ:PLBY) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.04). PLBY Group had a positive return on equity of 21.89% and a negative net margin of 6.21%.The company had revenue of $30.24 million during the quarter, compared to analysts’ expectations of $30.71 million. Equities analysts expect that PLBY Group, Inc. will post 0.02 earnings per share for the current year.

Hedge Funds Weigh In On PLBY Group

A number of hedge funds have recently made changes to their positions in PLBY. Jones Financial Companies Lllp grew its position in shares of PLBY Group by 7,468.3% during the first quarter. Jones Financial Companies Lllp now owns 32,695 shares of the company’s stock worth $36,000 after purchasing an additional 32,263 shares in the last quarter. Jane Street Group LLC lifted its holdings in PLBY Group by 15.4% in the 1st quarter. Jane Street Group LLC now owns 90,693 shares of the company’s stock worth $100,000 after purchasing an additional 12,089 shares in the last quarter. XTX Topco Ltd boosted its stake in PLBY Group by 192.4% in the 2nd quarter. XTX Topco Ltd now owns 124,310 shares of the company’s stock worth $201,000 after purchasing an additional 81,792 shares during the period. Boothbay Fund Management LLC bought a new position in PLBY Group in the 2nd quarter worth approximately $41,000. Finally, Engineers Gate Manager LP grew its holdings in PLBY Group by 57.8% during the 2nd quarter. Engineers Gate Manager LP now owns 22,895 shares of the company’s stock valued at $37,000 after buying an additional 8,390 shares in the last quarter. Institutional investors own 32.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Zacks Research cut shares of PLBY Group from a “hold” rating to a “strong sell” rating in a research note on Monday, May 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of PLBY Group in a research report on Thursday. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, PLBY Group currently has an average rating of “Sell”.

About PLBY Group

PLBY Group, Inc is a global media and lifestyle company best known for its iconic Playboy brand. The company operates across multiple business segments, including consumer products, licensing, subscription commerce, sexual wellness and digital offerings. Through its diversified portfolio, PLBY Group brings its signature aesthetic and brand heritage to categories such as apparel, accessories, gaming, beverages, home goods and intimate lifestyle products.

In the consumer products segment, PLBY Group designs and markets a range of branded goods under licensing agreements with major retailers and distributors worldwide.