PLBY Group (NASDAQ:PLBY) Major Shareholder Sells $3,000,000.15 in Stock

PLBY Group, Inc. (NASDAQ:PLBY) major shareholder Special Opportuniti Drawbridge sold 2,857,143 shares of PLBY Group stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $1.05, for a total value of $3,000,000.15. Following the transaction, the insider owned 142,835 shares of the company’s stock, valued at $149,976.75. This trade represents a 95.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own more than 10% of a company’s shares 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 value of $2,000,000.10.

PLBY Group Stock Performance

Shares of PLBY Group stock opened at $1.20 on Friday. PLBY Group, Inc. has a 52 week low of $1.08 and a 52 week high of $2.75. The company has a quick ratio of 0.64, a current ratio of 0.79 and a debt-to-equity ratio of 6.83. The business has a 50 day moving average price of $1.23 and a 200-day moving average price of $1.52. The company has a market cap of $143.77 million, a PE ratio of 24.40 and a beta of 1.89.

Analysts Set New Price Targets

PLBY has been the topic of a number of analyst reports. Zacks Research raised shares of PLBY Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 14th. Weiss Ratings upgraded shares of PLBY Group from a “sell (d-)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, PLBY Group presently has a consensus rating of “Reduce”.

Institutional Trading of PLBY Group

A number of hedge funds have recently bought and sold shares of the business. Crcm LP grew its stake in PLBY Group by 17.8% in the 1st quarter. Crcm LP now owns 4,345,517 shares of the company’s stock valued at $6,605,000 after purchasing an additional 656,065 shares during the period. Bbfit Investments PTE Ltd. purchased a new position in shares of PLBY Group in the 4th quarter worth about $2,297,000. Jefferies Financial Group Inc. bought a new position in PLBY Group during the fourth quarter valued at about $94,000. Sfmg LLC increased its holdings in PLBY Group by 50.0% during the fourth quarter. Sfmg LLC now owns 450,000 shares of the company’s stock worth $846,000 after buying an additional 150,000 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its position in PLBY Group by 7,468.3% in the first quarter. Jones Financial Companies Lllp now owns 32,695 shares of the company’s stock worth $36,000 after acquiring an additional 32,263 shares during the period. 32.46% of the stock is currently owned by institutional investors.

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.