PLBY Group (NASDAQ:PLBY) Raised to “Hold” at Zacks Research

PLBY Group (NASDAQ:PLBY) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of PLBY Group in a research note on Thursday, June 18th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

PLBY Group Trading Down 5.1%

PLBY stock opened at $1.11 on Tuesday. The business has a fifty day moving average price of $1.35 and a 200 day moving average price of $1.64. PLBY Group has a fifty-two week low of $1.09 and a fifty-two week high of $2.75. The stock has a market capitalization of $128.72 million, a price-to-earnings ratio of -13.88 and a beta of 1.86. The company has a debt-to-equity ratio of 4.59, a current ratio of 1.00 and a quick ratio of 0.80.

PLBY Group (NASDAQ:PLBY) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.04). The business had revenue of $30.24 million during the quarter, compared to analyst estimates of $30.71 million. PLBY Group had a positive return on equity of 21.89% and a negative net margin of 6.21%. Analysts expect that PLBY Group will post 0.02 EPS for the current fiscal year.

Insider Activity at PLBY Group

In other PLBY Group news, General Counsel Christopher Riley sold 74,949 shares of the company’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $1.23, for a total transaction of $92,187.27. Following the transaction, the general counsel owned 1,542,259 shares of the company’s stock, valued at approximately $1,896,978.57. This represents a 4.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Bernhard L. Kohn III sold 106,152 shares of the company’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $1.14, for a total value of $121,013.28. Following the transaction, the chief executive officer directly owned 5,488,408 shares in the company, valued at approximately $6,256,785.12. This represents a 1.90% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 3,103,064 shares of company stock valued at $3,674,690 over the last three months. 34.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On PLBY Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Hudson Bay Capital Management LP raised its holdings in PLBY Group by 16.0% during the 4th quarter. Hudson Bay Capital Management LP now owns 41,033 shares of the company’s stock worth $77,000 after purchasing an additional 5,648 shares during the last quarter. Kestra Advisory Services LLC increased its stake in PLBY Group by 30.4% in the first quarter. Kestra Advisory Services LLC now owns 29,897 shares of the company’s stock valued at $45,000 after purchasing an additional 6,965 shares in the last quarter. Engineers Gate Manager LP raised its holdings in PLBY Group by 57.8% in the second quarter. Engineers Gate Manager LP now owns 22,895 shares of the company’s stock worth $37,000 after purchasing an additional 8,390 shares during the period. Bogart Wealth LLC raised its holdings in 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 purchasing an additional 10,000 shares during the period. Finally, Boothbay Fund Management LLC boosted its position in shares of PLBY Group by 41.7% during the third quarter. Boothbay Fund Management LLC now owns 35,658 shares of the company’s stock worth $52,000 after purchasing an additional 10,500 shares in the last quarter. Institutional investors own 32.46% of the company’s stock.

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.