Insider Selling: PLBY Group (NASDAQ:PLBY) Major Shareholder Sells $5,000,000.25 in Stock

PLBY Group, Inc. (NASDAQ:PLBY) major shareholder Special Opportuniti Drawbridge sold 4,761,905 shares of the firm’s stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $1.05, for a total transaction of $5,000,000.25. Following the completion of the sale, the insider owned 85,328 shares in the company, valued at $89,594.40. The trade was a 98.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Special Opportuniti Drawbridge also recently made the following trade(s):

• On Monday, August 24th, Special Opportuniti Drawbridge sold 2,857,143 shares of PLBY Group stock. The stock was sold at an average price of $1.05, for a total value of $3,000,000.15.

PLBY Group Stock Performance

PLBY traded up $0.09 during trading hours on Tuesday, hitting $1.32. The company’s stock had a trading volume of 1,348,929 shares, compared to its average volume of 896,111. PLBY Group, Inc. has a fifty-two week low of $0.95 and a fifty-two week high of $2.75. The company has a current ratio of 0.79, a quick ratio of 0.64 and a debt-to-equity ratio of 6.83. The firm has a market capitalization of $158.75 million, a PE ratio of 23.40 and a beta of 1.96. The company has a 50-day simple moving average of $1.11 and a 200 day simple moving average of $1.44.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PLBY. Weiss Ratings raised PLBY Group from a “sell (d-)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Zacks Research upgraded shares of PLBY Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, PLBY Group has an average rating of “Reduce”.

Institutional Trading of PLBY Group

Institutional investors have recently made changes to their positions in the stock. Crcm LP boosted its holdings in shares of PLBY Group by 17.8% in the first quarter. Crcm LP now owns 4,345,517 shares of the company’s stock valued at $6,605,000 after acquiring an additional 656,065 shares in the last quarter. Bank of America Corp DE raised its holdings in PLBY Group by 56.5% during the first quarter. Bank of America Corp DE now owns 85,154 shares of the company’s stock worth $129,000 after purchasing an additional 30,734 shares in the last quarter. CTC Alternative Strategies Ltd. bought a new stake in PLBY Group during the first quarter worth approximately $27,000. Sei Investments Co. acquired a new stake in PLBY Group in the first quarter worth approximately $577,000. Finally, Kestra Advisory Services LLC lifted its position in PLBY Group by 30.4% in the first quarter. Kestra Advisory Services LLC now owns 29,897 shares of the company’s stock worth $45,000 after purchasing an additional 6,965 shares during the period. 32.46% of the stock is owned by institutional investors and hedge funds.

PLBY Group Company Profile

PLBY Group, Inc was a global media and lifestyle company associated with the Playboy brand. Its business focused on developing, licensing and marketing Playboy-branded products and experiences across categories including apparel, accessories, consumer products, digital media and sexual wellness.

The company’s operations were built around the Playboy intellectual property, which includes the Playboy name, rabbit-head logo, editorial archive and related creative assets. PLBY Group generated business through brand licensing, direct-to-consumer commerce, digital content and partnerships with manufacturers, retailers and other commercial operators.

Playboy was founded by Hugh Hefner in 1953 as a men’s lifestyle magazine and later expanded into television, publishing, hospitality, merchandise and licensing.