Key Points
- Major shareholder Special Opportuniti Drawbridge sold 4,761,905 PLBY Group shares at an average $1.05 each, for about $5 million. The sale cut its position by 98.24%, leaving it with 85,328 shares.
- Drawbridge had also sold 2,857,143 shares in August for about $3 million, indicating additional substantial selling in the stock.
- PLBY shares opened at $1.32 and were reported up 6.9%; analysts’ consensus rating was “Reduce,” with one Hold and one Sell rating.
PLBY Group, Inc. (NASDAQ:PLBY - Get Free Report) major shareholder Special Opportuniti Drawbridge sold 4,761,905 shares of PLBY Group stock in a transaction dated 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 transaction, the insider directly owned 85,328 shares of the company's stock, valued at $89,594.40. The trade was a 98.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company's shares 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 shares were sold at an average price of $1.05, for a total value of $3,000,000.15.
PLBY Group Trading Up 6.9%
Shares of PLBY Group stock opened at $1.32 on Wednesday. The company's 50-day moving average price is $1.11 and its 200-day moving average price is $1.43. The company has a current ratio of 0.79, a quick ratio of 0.64 and a debt-to-equity ratio of 6.83. PLBY Group, Inc. has a 12-month low of $0.95 and a 12-month high of $2.75. The company has a market cap of $158.75 million, a price-to-earnings ratio of 24.80 and a beta of 1.88.
Hedge Funds Weigh In On PLBY Group
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLBY. Crcm LP increased its stake in PLBY Group by 17.8% in the 1st quarter. Crcm LP now owns 4,345,517 shares of the company's stock worth $6,605,000 after acquiring an additional 656,065 shares during the last quarter. Sei Investments Co. bought a new stake in shares of PLBY Group during the 1st quarter valued at about $577,000. Hillsdale Investment Management Inc. bought a new stake in shares of PLBY Group during the 1st quarter valued at about $228,000. Bank of America Corp DE boosted its position in shares of PLBY Group by 56.5% during the 1st 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 last quarter. Finally, CTC Alternative Strategies Ltd. purchased a new position in shares of PLBY Group during the first quarter worth about $27,000. 32.46% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on PLBY. Weiss Ratings raised shares of PLBY Group from a "sell (d-)" rating to a "sell (d+)" rating in a 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 research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Reduce".
Check Out Our Latest Research Report on PLBY Group
PLBY Group Company Profile
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
