Bernhard Kohn III Sells 109,342 Shares of PLBY Group (NASDAQ:PLBY) Stock

Key Points

• PLBY Group CEO Bernhard Kohn III sold 109,342 shares on July 8 at an average price of $1.14, for proceeds of about $124,650. The company said the sale was to cover tax withholding obligations tied to vesting equity awards.
• The transaction reduced Kohn’s ownership by 1.92%, though he still holds 5,594,560 shares valued at about $6.38 million.
• PLBY Group has faced weak operating and market performance, with the stock trading near its 1-year low and analysts maintaining a Sell consensus rating after the company missed earnings expectations last quarter.

PLBY Group, Inc. (NASDAQ:PLBY - Get Free Report) CEO Bernhard Kohn III sold 109,342 shares of the firm's stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $1.14, for a total transaction of $124,649.88. Following the transaction, the chief executive officer owned 5,594,560 shares of the company's stock, valued at $6,377,798.40. This trade represents a 1.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PLBY Group Price Performance

PLBY traded up $0.02 during midday trading on Thursday, reaching $1.16. 798,702 shares of the company's stock were exchanged, compared to its average volume of 990,583. PLBY Group, Inc. has a 1-year low of $1.12 and a 1-year high of $2.75. The stock has a market capitalization of $134.53 million, a PE ratio of -14.50 and a beta of 1.86. The company has a debt-to-equity ratio of 4.59, a current ratio of 1.00 and a quick ratio of 0.80. The business's 50-day moving average price is $1.39 and its 200 day moving average price is $1.66.

PLBY Group (NASDAQ:PLBY - Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.04). PLBY Group had a positive return on equity of 21.89% and a negative net margin of 6.21%.The business had revenue of $30.24 million for the quarter, compared to analysts' expectations of $30.71 million. As a group, equities analysts anticipate that PLBY Group, Inc. will post 0.02 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on PLBY shares. Zacks Research cut PLBY Group from a "hold" rating to a "strong sell" rating in a research report on Monday, May 11th. Weiss Ratings reiterated a "sell (d-)" rating on shares of PLBY Group in a report on Thursday, June 18th. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat, PLBY Group currently has an average rating of "Sell".

Hedge Funds Weigh In On PLBY Group

Large investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp boosted its holdings in shares of PLBY Group by 7,468.3% in the 1st quarter. Jones Financial Companies Lllp now owns 32,695 shares of the company's stock valued at $36,000 after purchasing an additional 32,263 shares during the last quarter. Jane Street Group LLC boosted its holdings in PLBY Group by 15.4% in the first 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 grew its position in PLBY Group by 192.4% during the second quarter. XTX Topco Ltd now owns 124,310 shares of the company's stock valued at $201,000 after acquiring an additional 81,792 shares during the period. Boothbay Fund Management LLC acquired a new stake in PLBY Group during the second quarter worth about $41,000. Finally, Engineers Gate Manager LP increased 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 acquiring 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.

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