Insider Selling: PLBY Group (NASDAQ:PLBY) Major Shareholder Sells $5,000,000.25 in Stock

PLBY Group, Inc. (NASDAQ:PLBY) major shareholder Special Opportuniti Drawbridge sold 4,761,905 shares of the business’s stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $1.05, for a total value of $5,000,000.25. Following the completion of the sale, the insider owned 85,328 shares of the company’s stock, valued at $89,594.40. This trade represents a 98.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Special Opportuniti Drawbridge also recently made the following trade(s):

• On Monday, August 24th, Special Opportuniti Drawbridge sold 2,857,143 shares of PLBY Group stock. The stock was sold at an average price of $1.05, for a total value of $3,000,000.15.

PLBY Group Stock Performance

PLBY traded up $0.09 during trading hours on Tuesday, hitting $1.32. 1,348,929 shares of the stock were exchanged, compared to its average volume of 896,111. The stock has a 50-day simple moving average of $1.11 and a 200-day simple moving average of $1.44. PLBY Group, Inc. has a 12 month low of $0.95 and a 12 month high of $2.75. The stock has a market cap of $158.75 million, a price-to-earnings ratio of 23.40 and a beta of 1.96. The company has a debt-to-equity ratio of 6.83, a current ratio of 0.79 and a quick ratio of 0.64.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC grew its stake in PLBY Group by 30.4% during the 1st quarter. Kestra Advisory Services LLC now owns 29,897 shares of the company’s stock worth $45,000 after buying an additional 6,965 shares during the last quarter. Bogart Wealth LLC lifted its stake in PLBY Group by 66.7% in the first quarter. Bogart Wealth LLC now owns 25,000 shares of the company’s stock valued at $38,000 after buying an additional 10,000 shares during the last quarter. CTC Alternative Strategies Ltd. acquired a new position in shares of PLBY Group during the first quarter valued at $27,000. Bank of America Corp DE boosted its holdings in shares of PLBY Group by 56.5% during the first quarter. Bank of America Corp DE now owns 85,154 shares of the company’s stock valued at $129,000 after acquiring an additional 30,734 shares during the period. Finally, Hillsdale Investment Management Inc. bought a new position in shares of PLBY Group during the first quarter worth about $228,000. Institutional investors and hedge funds own 32.46% of the company’s stock.

PLBY Group Company Profile

PLBY Group, Inc was a global media and lifestyle company associated with the Playboy brand. Its business focused on developing, licensing and marketing Playboy-branded products and experiences across categories including apparel, accessories, consumer products, digital media and sexual wellness.

The company’s operations were built around the Playboy intellectual property, which includes the Playboy name, rabbit-head logo, editorial archive and related creative assets. PLBY Group generated business through brand licensing, direct-to-consumer commerce, digital content and partnerships with manufacturers, retailers and other commercial operators.

Playboy was founded by Hugh Hefner in 1953 as a men’s lifestyle magazine and later expanded into television, publishing, hospitality, merchandise and licensing.