PLBY Group (NASDAQ:PLBY) Major Shareholder Special Opportuniti Drawbridge Sells 1,904,762 Shares of Stock

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

PLBY Group Price Performance

Shares of NASDAQ:PLBY opened at $1.50 on Wednesday. The company has a market cap of $173.95 million, a PE ratio of -18.75 and a beta of 1.84. PLBY Group, Inc. has a fifty-two week low of $1.19 and a fifty-two week high of $2.75. The firm has a 50-day simple moving average of $1.52 and a 200 day simple moving average of $1.72. The company has a quick ratio of 0.80, a current ratio of 1.00 and a debt-to-equity ratio of 4.59.

PLBY Group (NASDAQ:PLBY) last issued its earnings results on Monday, May 11th. The company reported ($0.03) earnings per share (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 business had revenue of $30.24 million during the quarter, compared to the consensus estimate of $30.71 million. On average, sell-side analysts anticipate that PLBY Group, Inc. will post 0.02 EPS for the current year.

Hedge Funds Weigh In On PLBY Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fortress Investment Group LLC boosted its position in PLBY Group by 183.6% during the 3rd quarter. Fortress Investment Group LLC now owns 16,589,531 shares of the company’s stock worth $24,387,000 after acquiring an additional 10,740,578 shares during the period. Crcm LP grew its stake in shares of PLBY Group by 154.2% in the fourth quarter. Crcm LP now owns 3,689,452 shares of the company’s stock worth $6,936,000 after purchasing an additional 2,238,296 shares in the last quarter. Bbfit Investments PTE Ltd. acquired a new position in shares of PLBY Group during the fourth quarter valued at $2,297,000. Marshall Wace LLP acquired a new position in shares of PLBY Group during the fourth quarter valued at $1,169,000. Finally, Sei Investments Co. acquired a new position in shares of PLBY Group during the first quarter valued at $577,000. 32.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of PLBY Group in a research report on Thursday, June 18th. Zacks Research lowered PLBY Group from a “hold” rating to a “strong sell” rating in a research report on Monday, May 11th. Two equities research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, PLBY Group presently has a consensus rating of “Sell”.

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.