PLBY Group (NASDAQ:PLBY) Stock Sees Heavy Call Option Buying

PLBY Group, Inc. (NASDAQ:PLBY) was the target of unusually large options trading on Tuesday. Stock investors purchased 3,595 call options on the company. This is an increase of 1,102% compared to the average daily volume of 299 call options.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. 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 research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

Insider Activity at PLBY Group

In related news, Director Tracey E. Edmonds sold 25,900 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $1.16, for a total transaction of $30,044.00. Following the completion of the transaction, the director owned 142,253 shares in the company, valued at $165,013.48. This trade represents a 15.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Special Opportuniti Drawbridge sold 2,857,143 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $1.05, for a total value of $3,000,000.15. Following the completion of the sale, the insider directly owned 142,835 shares in the company, valued at approximately $149,976.75. This represents a 95.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,908,159 shares of company stock valued at $3,060,178 in the last 90 days. 34.50% of the stock is owned by corporate insiders.

Institutional Trading of PLBY Group

Institutional investors have recently modified their holdings of the company. Bbfit Investments PTE Ltd. acquired a new position in PLBY Group during the 4th quarter worth approximately $2,297,000. Crcm LP raised its holdings in shares of PLBY Group by 17.8% in the 1st quarter. Crcm LP now owns 4,345,517 shares of the company’s stock valued at $6,605,000 after purchasing an additional 656,065 shares during the period. Sei Investments Co. bought a new stake in PLBY Group in the first quarter valued at approximately $577,000. Hillsdale Investment Management Inc. acquired a new stake in PLBY Group during the 1st quarter valued at $228,000. Finally, Bank of America Corp DE boosted its holdings 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 worth $129,000 after buying an additional 30,734 shares during the period. 32.46% of the stock is currently owned by institutional investors.

PLBY Group Trading Up 1.2%

PLBY Group stock traded up $0.01 during mid-day trading on Tuesday, hitting $1.00. 263,583 shares of the company’s stock were exchanged, compared to its average volume of 909,279. The firm has a market capitalization of $120.41 million, a P/E ratio of 19.65 and a beta of 1.96. The company has a quick ratio of 0.64, a current ratio of 0.79 and a debt-to-equity ratio of 6.83. The company’s 50 day simple moving average is $1.14 and its 200-day simple moving average is $1.33. PLBY Group has a fifty-two week low of $0.96 and a fifty-two week high of $2.75.

PLBY Group Company Profile

PLBY Group, Inc, doing business under the Playboy brand, is a global media and lifestyle company. The company owns and manages the Playboy intellectual property portfolio, which includes the Playboy name, rabbit-head trademark, editorial content, imagery and related brand assets.

Its business activities primarily include brand licensing, digital media, consumer products and experiences. Through licensing agreements and direct-to-consumer channels, Playboy-branded products have included apparel, accessories, beauty and grooming products, home goods, gaming and other merchandise.