PLBY Group Sees Unusually High Options Volume (NASDAQ:PLBY)

Key Points

• PLBY Group saw unusually heavy call-option activity, with 3,595 calls purchased—about 1,102% above its typical daily volume of 299.
• Shares traded near $1.00, close to the 52-week low, while the company showed high leverage with a debt-to-equity ratio of 6.83 and current and quick ratios below 1.
• Insiders sold approximately 2.9 million shares worth $3.06 million over the past 90 days, while analysts maintained a generally negative outlook with an average “Reduce” rating.

PLBY Group, Inc. (NASDAQ:PLBY - Get Free Report) was the target of unusually large options trading activity on Tuesday. Investors purchased 3,595 call options on the stock. This represents an increase of approximately 1,102% compared to the typical daily volume of 299 call options.

PLBY Group Stock Performance

PLBY stock traded up $0.01 during midday trading on Tuesday, hitting $1.00. The stock had a trading volume of 263,583 shares, compared to its average volume of 909,279. The firm has a market capitalization of $120.41 million, a price-to-earnings ratio of 19.65 and a beta of 1.96. PLBY Group has a 52 week low of $0.96 and a 52 week high of $2.75. The stock has a 50-day simple moving average of $1.14 and a 200 day simple moving average of $1.33. The company has a current ratio of 0.79, a quick ratio of 0.64 and a debt-to-equity ratio of 6.83.

Insider Buying and Selling at PLBY Group

In other PLBY Group news, Director Tracey E. Edmonds sold 25,900 shares of the stock in a transaction on Friday, September 4th. The shares were sold at an average price of $1.16, for a total value of $30,044.00. Following the completion of the sale, the director directly owned 142,253 shares of the company's stock, valued at $165,013.48. This represents a 15.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Special Opportuniti Drawbridge sold 2,857,143 shares of the firm's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $1.05, for a total transaction of $3,000,000.15. Following the completion of the sale, the insider owned 142,835 shares in the company, valued at $149,976.75. This represents a 95.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 2,908,159 shares of company stock worth $3,060,178. 34.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PLBY Group

A number of hedge funds have recently made changes to their positions in PLBY. Crcm LP increased its stake in PLBY Group by 17.8% in the first quarter. Crcm LP now owns 4,345,517 shares of the company's stock valued at $6,605,000 after acquiring an additional 656,065 shares during the period. Bbfit Investments PTE Ltd. acquired a new position in PLBY Group in the fourth quarter worth about $2,297,000. Bank of America Corp DE lifted its stake in PLBY Group by 56.5% during the first quarter. Bank of America Corp DE now owns 85,154 shares of the company's stock worth $129,000 after purchasing an additional 30,734 shares during the period. Sei Investments Co. bought a new position in PLBY Group during the first quarter worth about $577,000. Finally, Kestra Advisory Services LLC lifted its stake in PLBY Group by 30.4% during the first quarter. Kestra Advisory Services LLC now owns 29,897 shares of the company's stock worth $45,000 after purchasing an additional 6,965 shares during the period. Institutional investors and hedge funds own 32.46% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PLBY shares. Weiss Ratings upgraded shares of PLBY Group from a "sell (d-)" rating to a "sell (d+)" rating in a research note on Tuesday, August 11th. Zacks Research raised PLBY Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Reduce".

About PLBY Group

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.

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