PLBY Group (NASDAQ:PLBY) Stock Price Crosses Above 50 Day Moving Average – Here’s What Happened

Shares of PLBY Group, Inc. (NASDAQ:PLBY) passed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $1.11 and traded as high as $1.13. PLBY Group shares last traded at $1.13, with a volume of 312,327 shares changing hands.

Wall Street Analyst Weigh In

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

PLBY Group Price Performance

The firm has a market cap of $135.38 million, a PE ratio of 21.80 and a beta of 1.96. The stock has a 50-day moving average price of $1.11 and a 200 day moving average price of $1.45.

Insider Transactions at PLBY Group

In other news, major shareholder Special Opportuniti Drawbridge sold 2,857,143 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $1.05, for a total transaction of $3,000,000.15. Following the completion of the transaction, the insider owned 142,835 shares of the company’s stock, valued at $149,976.75. This represents a 95.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Tracey E. Edmonds sold 25,900 shares of the stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $1.16, for a total transaction of $30,044.00. Following the transaction, the director owned 142,253 shares in the company, valued at approximately $165,013.48. The trade was a 15.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 2,908,159 shares of company stock valued at $3,060,178. Corporate insiders own 34.50% of the company’s stock.

Hedge Funds Weigh In On PLBY Group

Several institutional investors and hedge funds have recently bought and sold shares of PLBY. Kestra Advisory Services LLC raised 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 buying an additional 6,965 shares during the period. Bogart Wealth LLC grew its stake in PLBY Group by 66.7% during the first quarter. Bogart Wealth LLC now owns 25,000 shares of the company’s stock worth $38,000 after buying an additional 10,000 shares during the period. Patriot Financial Group Insurance Agency LLC grew its stake in PLBY Group by 136.5% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 25,366 shares of the company’s stock worth $39,000 after buying an additional 14,641 shares during the period. CTC Alternative Strategies Ltd. purchased a new stake in PLBY Group during the first quarter worth approximately $27,000. Finally, Bank of America Corp DE increased its position in shares of PLBY Group by 56.5% in the first quarter. Bank of America Corp DE now owns 85,154 shares of the company’s stock worth $129,000 after acquiring an additional 30,734 shares in the last quarter. Institutional investors and hedge funds own 32.46% of the company’s stock.

About PLBY Group

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.