Zacks Research Downgrades PLBY Group (NASDAQ:PLBY) to Strong Sell

PLBY Group (NASDAQ:PLBY) was downgraded by equities researchers 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

NASDAQ:PLBY opened at $1.50 on Monday. PLBY Group has a 52 week low of $1.16 and a 52 week high of $2.75. The company has a fifty day simple moving average of $1.70 and a two-hundred day simple moving average of $1.76. The company has a quick ratio of 0.82, a current ratio of 1.03 and a debt-to-equity ratio of 9.40. The company has a market cap of $173.19 million, a price-to-earnings ratio of -18.75 and a beta of 1.91.

PLBY Group (NASDAQ:PLBY) last announced its quarterly earnings data 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). PLBY Group had a negative net margin of 6.21% and a positive return on equity of 137.25%. The company had revenue of $30.24 million during the quarter, compared to analyst estimates of $30.72 million. As a group, equities analysts anticipate that PLBY Group will post 0.09 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Bernhard L. Kohn III sold 18,502 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $1.83, for a total transaction of $33,858.66. Following the sale, the chief executive officer directly owned 6,245,045 shares in the company, valued at approximately $11,428,432.35. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 90,896 shares of the firm’s 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 completion of the sale, the general counsel directly owned 1,688,679 shares in the company, valued at approximately $3,005,848.62. This trade represents a 5.11% decrease in their position. The SEC filing for this sale provides additional information. 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 in the last quarter. Company insiders own 38.30% of the company’s stock.

Hedge Funds Weigh In On PLBY Group

Several large investors have recently bought and sold shares of the business. Jones Financial Companies Lllp raised its stake in PLBY Group by 7,468.3% in the first quarter. Jones Financial Companies Lllp now owns 32,695 shares of the company’s stock valued at $36,000 after buying an additional 32,263 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of PLBY Group by 15.4% in the 1st quarter. Jane Street Group LLC now owns 90,693 shares of the company’s stock valued at $100,000 after acquiring an additional 12,089 shares during the last quarter. XTX Topco Ltd raised its position in shares of PLBY Group by 192.4% during the 2nd quarter. XTX Topco Ltd now owns 124,310 shares of the company’s stock worth $201,000 after acquiring an additional 81,792 shares in the last quarter. Boothbay Fund Management LLC purchased a new stake in PLBY Group during the second quarter worth approximately $41,000. Finally, Engineers Gate Manager LP lifted its stake in PLBY Group by 57.8% during the second 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 last quarter. Hedge funds and other institutional investors own 32.46% of the company’s stock.

PLBY Group Company Profile

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.