PLBY Group (NASDAQ:PLBY) Major Shareholder Special Opportuniti Drawbridge Sells 2,857,143 Shares of Stock

PLBY Group, Inc. (NASDAQ:PLBY) major shareholder Special Opportuniti Drawbridge sold 2,857,143 shares of the firm’s stock in a transaction that occurred on 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 directly owned 142,835 shares of the company’s stock, valued at approximately $149,976.75. The trade was a 95.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more 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 Thursday, June 18th, Special Opportuniti Drawbridge sold 1,904,762 shares of PLBY Group stock. The stock was sold at an average price of $1.05, for a total transaction of $2,000,000.10.

PLBY Group Stock Performance

NASDAQ:PLBY opened at $1.23 on Wednesday. PLBY Group, Inc. has a 52 week low of $1.08 and a 52 week high of $2.75. The company has a fifty day simple moving average of $1.24 and a two-hundred day simple moving average of $1.52. 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 has a market cap of $147.37 million, a price-to-earnings ratio of 25.00 and a beta of 1.89.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Zacks Research upgraded shares of PLBY Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Weiss Ratings raised PLBY Group from a “sell (d-)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce”.

Hedge Funds Weigh In On PLBY Group

A number of institutional investors have recently modified their holdings of the business. CTC Alternative Strategies Ltd. purchased a new position in PLBY Group during the 1st quarter worth $27,000. Engineers Gate Manager LP grew its stake 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 valued at $37,000 after purchasing an additional 8,390 shares during the last quarter. Bogart Wealth LLC raised its stake in shares of 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 purchasing an additional 10,000 shares during the last quarter. Boothbay Fund Management LLC purchased a new position in PLBY Group in the 2nd quarter valued at $41,000. Finally, Patriot Financial Group Insurance Agency LLC raised its position in PLBY Group by 136.5% during the 1st 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 last quarter. 32.46% of the stock is owned by institutional investors and hedge funds.

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.