PLBY Group (NASDAQ:PLBY) Stock Falls 0.5% – Here’s Why

PLBY Group, Inc. (NASDAQ:PLBY) was down 0.5% during trading on Wednesday. The company traded as low as $1.01 and last traded at $1.0250. 674,857 shares changed hands during mid-day trading, an increase of 34% from the average session volume of 503,536 shares. The stock had previously closed at $1.03.

Analyst Ratings Changes

PLBY has been the subject of several analyst reports. Weiss Ratings upgraded PLBY Group from a “sell (d-)” rating to a “sell (d+)” rating in a research 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 investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, PLBY Group has a consensus rating of “Reduce”.

PLBY Group Trading Up 3.5%

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 company has a market capitalization of $125.20 million, a P/E ratio of 20.50 and a beta of 1.96. The business has a fifty day moving average price of $1.16 and a 200 day moving average price of $1.36.

Insider Transactions at PLBY Group

In other news, CEO Bernhard L. Kohn III sold 106,152 shares of PLBY Group stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $1.14, for a total value of $121,013.28. Following the sale, the chief executive officer directly owned 5,488,408 shares in the company, valued at $6,256,785.12. This trade represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Christopher Riley sold 74,949 shares of the business’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 completion of the sale, the general counsel directly owned 1,542,259 shares in the company, valued at approximately $1,896,978.57. This represents a 4.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 3,307,561 shares of company stock worth $3,527,689. 34.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PLBY Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Crcm LP grew its holdings in shares of 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 acquiring an additional 656,065 shares in the last quarter. Bbfit Investments PTE Ltd. bought a new stake in PLBY Group during the fourth quarter worth about $2,297,000. Sei Investments Co. acquired a new position in PLBY Group during the first quarter valued at approximately $577,000. Hillsdale Investment Management Inc. bought a new position in PLBY Group in the first quarter valued at approximately $228,000. Finally, Bank of America Corp DE grew its stake in 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. 32.46% of the stock is owned by institutional investors.

About PLBY Group

PLBY Group, Inc is a global media and lifestyle company built around the Playboy brand. Its activities have included brand licensing, digital media, content production, consumer products, and entertainment offerings designed to extend Playboy’s identity across multiple categories and geographies.

The company has generated revenue through licensing agreements with third-party manufacturers and retailers, as well as through Playboy-branded products and digital experiences. Its portfolio has included apparel, accessories, beauty and grooming products, home goods, gaming and other consumer merchandise, along with online content and membership-oriented offerings.

Playboy was founded in 1953 by Hugh Hefner, initially as a magazine publisher, and developed into an internationally recognized lifestyle brand.