Traders Buy Large Volume of Call Options on PLBY Group (NASDAQ:PLBY)

PLBY Group, Inc. (NASDAQ:PLBY) saw some unusual options trading activity on Thursday. Traders acquired 3,000 call options on the company. This represents an increase of 265% compared to the typical daily volume of 822 call options.

Insider Activity at PLBY Group

In related news, General Counsel Christopher Riley sold 90,896 shares of PLBY Group stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $1.78, for a total transaction of $161,794.88. Following the sale, the general counsel directly owned 1,688,679 shares in the company, valued at $3,005,848.62. This trade represents a 5.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Bernhard L. Kohn III sold 97,658 shares of PLBY Group stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $1.39, for a total transaction of $135,744.62. Following the sale, the chief executive officer owned 5,977,309 shares in the company, valued at approximately $8,308,459.51. This represents a 1.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 476,724 shares of company stock worth $779,538. 38.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Hudson Bay Capital Management LP lifted its position in shares of PLBY Group by 16.0% in 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 period. Kestra Advisory Services LLC lifted its position in shares of PLBY Group by 30.4% in the 1st quarter. Kestra Advisory Services LLC now owns 29,897 shares of the company’s stock worth $45,000 after purchasing an additional 6,965 shares during the period. Engineers Gate Manager LP lifted its position in shares of PLBY Group by 57.8% in the 2nd 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 lifted its position in shares of PLBY Group by 66.7% in the 1st 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 lifted its position in shares of PLBY Group by 41.7% in the 3rd 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 during the period. Institutional investors and hedge funds own 32.46% of the company’s stock.

Analyst Ratings Changes

Separately, Zacks Research downgraded shares of PLBY Group from a “hold” rating to a “strong sell” rating in a research report on Monday. Two analysts have rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

PLBY Group Price Performance

NASDAQ:PLBY opened at $1.40 on Friday. The firm’s 50 day simple moving average is $1.68 and its 200 day simple moving average is $1.76. The company has a debt-to-equity ratio of 4.59, a current ratio of 1.00 and a quick ratio of 0.82. PLBY Group has a one year low of $1.16 and a one year high of $2.75. The company has a market cap of $162.35 million, a PE ratio of -17.50 and a beta of 1.91.

PLBY Group (NASDAQ:PLBY) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.04). The firm had revenue of $30.24 million during the quarter, compared to analyst estimates of $30.72 million. PLBY Group had a positive return on equity of 21.89% and a negative net margin of 6.21%. On average, research analysts anticipate that PLBY Group will post 0.02 earnings per share for the current year.

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.