PLBY Group (NASDAQ:PLBY) Major Shareholder Special Opportuniti Drawbridge Sells 4,761,905 Shares of Company Stock

PLBY Group, Inc. (NASDAQ:PLBY) major shareholder Special Opportuniti Drawbridge sold 4,761,905 shares of the firm’s stock in a transaction on Friday, October 30th. The stock was sold at an average price of $1.05, for a total value of $5,000,000.25. Following the completion of the sale, the insider directly owned 85,328 shares of the company’s stock, valued at $89,594.40. This represents a 98.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions 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 shares were sold at an average price of $1.05, for a total value of $3,000,000.15.

PLBY Group Stock Up 6.9%

Shares of NASDAQ PLBY opened at $1.32 on Wednesday. The company has a debt-to-equity ratio of 6.83, a current ratio of 0.79 and a quick ratio of 0.64. The stock has a market capitalization of $158.75 million, a PE ratio of 24.80 and a beta of 1.88. PLBY Group, Inc. has a one year low of $0.95 and a one year high of $2.75. The business’s fifty day moving average price is $1.11 and its 200-day moving average price is $1.43.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Weiss Ratings raised shares of 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 report on Tuesday, July 14th. One research 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 currently has a consensus rating of “Reduce”.

Institutional Investors Weigh In On PLBY Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CTC Alternative Strategies Ltd. purchased a new stake in shares of PLBY Group during the first quarter worth $27,000. Bogart Wealth LLC boosted its holdings in shares of PLBY Group by 66.7% in the first quarter. Bogart Wealth LLC now owns 25,000 shares of the company’s stock worth $38,000 after acquiring an additional 10,000 shares during the period. Kestra Advisory Services LLC boosted its holdings in shares of 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 acquiring an additional 6,965 shares during the period. Bank of America Corp DE grew its position in shares of PLBY Group by 56.5% in the first quarter. Bank of America Corp DE now owns 85,154 shares of the company’s stock valued at $129,000 after purchasing an additional 30,734 shares in the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of PLBY Group in the first quarter valued at $228,000. Institutional investors own 32.46% of the company’s stock.

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.