Insider Selling: PLBY Group (NASDAQ:PLBY) Major Shareholder Sells 2,857,143 Shares

PLBY Group, Inc. (NASDAQ:PLBY) major shareholder Special Opportuniti Drawbridge sold 2,857,143 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $1.05, for a total transaction of $3,000,000.15. Following the completion of the sale, the insider directly owned 142,835 shares in the company, valued at $149,976.75. This trade represents a 95.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 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 Thursday, June 18th, Special Opportuniti Drawbridge sold 1,904,762 shares of PLBY Group stock. The stock was sold at an average price of $1.05, for a total transaction of $2,000,000.10.

PLBY Group Trading Down 1.6%

Shares of NASDAQ:PLBY traded down $0.02 during mid-day trading on Tuesday, reaching $1.23. 229,434 shares of the company were exchanged, compared to its average volume of 992,677. PLBY Group, Inc. has a 1 year low of $1.08 and a 1 year high of $2.75. 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 firm’s 50-day simple moving average is $1.25 and its 200 day simple moving average is $1.52. The firm has a market cap of $147.37 million, a price-to-earnings ratio of 24.40 and a beta of 1.89.

Hedge Funds Weigh In On PLBY Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLBY. Crcm LP raised its position in PLBY Group by 154.2% in the 4th quarter. Crcm LP now owns 3,689,452 shares of the company’s stock valued at $6,936,000 after purchasing an additional 2,238,296 shares in the last quarter. Bbfit Investments PTE Ltd. purchased a new stake in shares of PLBY Group during the fourth quarter worth approximately $2,297,000. Marshall Wace LLP purchased a new stake in shares of PLBY Group during the fourth quarter worth approximately $1,169,000. Sei Investments Co. acquired a new stake in PLBY Group in the first quarter valued at approximately $577,000. Finally, 683 Capital Management LLC acquired a new stake in PLBY Group in the fourth quarter valued at approximately $492,000. Hedge funds and other institutional investors own 32.46% of the company’s stock.

Analyst Upgrades and Downgrades

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

PLBY Group Company Profile

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.