PLBY Group (NASDAQ:PLBY) Lowered to Strong Sell Rating by Zacks Research

PLBY Group (NASDAQ:PLBY) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.

PLBY Group Stock Performance

PLBY opened at $1.50 on Monday. The business has a fifty day simple moving average of $1.70 and a 200 day simple moving average of $1.76. The company has a market capitalization of $173.19 million, a PE ratio of -18.75 and a beta of 1.91. PLBY Group has a 1 year low of $1.16 and a 1 year high of $2.75. The company has a debt-to-equity ratio of 9.40, a current ratio of 1.03 and a quick ratio of 0.82.

PLBY Group (NASDAQ:PLBY) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.04). The firm had revenue of $30.24 million during the quarter, compared to the consensus estimate of $30.72 million. PLBY Group had a negative net margin of 6.21% and a positive return on equity of 137.25%. Research analysts expect that PLBY Group will post 0.09 EPS for the current year.

Insider Buying and Selling at PLBY Group

In other PLBY Group news, General Counsel Christopher Riley sold 90,896 shares of PLBY Group stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $1.78, for a total value of $161,794.88. Following the completion of the transaction, the general counsel directly owned 1,688,679 shares of the company’s stock, valued at $3,005,848.62. The trade was a 5.11% decrease in their position. The sale was disclosed in a legal filing 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, CEO Bernhard L. Kohn III sold 18,502 shares of PLBY Group stock in a transaction on Friday, April 24th. The shares were sold at an average price of $1.83, for a total value of $33,858.66. Following the completion of the transaction, the chief executive officer directly owned 6,245,045 shares of the company’s stock, valued at $11,428,432.35. This represents a 0.30% decrease in their ownership of the stock. 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. Insiders sold a total of 208,988 shares of company stock valued at $370,560 over the last ninety days. Insiders own 38.30% of the company’s stock.

Hedge Funds Weigh In On PLBY Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fortress Investment Group LLC raised its holdings in PLBY Group by 183.6% in the 3rd quarter. Fortress Investment Group LLC now owns 16,589,531 shares of the company’s stock valued at $24,387,000 after acquiring an additional 10,740,578 shares in the last quarter. Crcm LP raised its holdings 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 acquiring an additional 2,238,296 shares in the last quarter. Vanguard Group Inc. raised its holdings in PLBY Group by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,688,907 shares of the company’s stock valued at $3,953,000 after acquiring an additional 26,060 shares in the last quarter. Bbfit Investments PTE Ltd. acquired a new position in PLBY Group in the 4th quarter valued at $2,297,000. Finally, Geode Capital Management LLC raised its holdings in PLBY Group by 15.1% in the 4th quarter. Geode Capital Management LLC now owns 743,478 shares of the company’s stock valued at $1,398,000 after acquiring an additional 97,321 shares in the last quarter. 32.46% of the stock is owned by institutional investors and hedge funds.

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.