PLBY Group (NASDAQ:PLBY) Trading Down 1.3% - Time to Sell?

Key Points

• PLBY Group's shares decreased by 1.3% on Monday, trading at $1.52, with a significant 52% drop in trading volume compared to the average.
• Wall Street Zen recently upgraded PLBY Group from a "sell" to a "hold" rating, with an average rating of "Strong Buy" and a consensus target price of $3.00.
• Institutional investors have increased their stakes in PLBY Group, with notable raises including a staggering 7,468.3% increase by Jones Financial Companies in the first quarter.

Shares of PLBY Group, Inc. (NASDAQ:PLBY - Get Free Report) dropped 1.3% on Monday . The company traded as low as $1.51 and last traded at $1.52. Approximately 197,847 shares were traded during trading, a decline of 52% from the average daily volume of 413,742 shares. The stock had previously closed at $1.54.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of PLBY Group from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to data from MarketBeat.com, PLBY Group currently has an average rating of "Strong Buy" and a consensus target price of $3.00.

PLBY Group Price Performance

The business's 50-day moving average price is $1.70 and its 200 day moving average price is $1.47. The firm has a market capitalization of $144.57 million, a price-to-earnings ratio of -1.95 and a beta of 2.50.

PLBY Group (NASDAQ:PLBY - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($0.04) EPS for the quarter, hitting analysts' consensus estimates of ($0.04). The business had revenue of $28.15 million for the quarter, compared to analysts' expectations of $26.85 million. PLBY Group had a negative net margin of 60.96% and a negative return on equity of 1,460.70%. As a group, sell-side analysts expect that PLBY Group, Inc. will post -1.01 earnings per share for the current year.

Institutional Trading of PLBY Group

Several institutional investors have recently added to or reduced their stakes in PLBY. Jones Financial Companies Lllp raised its holdings in PLBY Group by 7,468.3% in the first quarter. Jones Financial Companies Lllp now owns 32,695 shares of the company's stock valued at $36,000 after acquiring an additional 32,263 shares in the last quarter. Engineers Gate Manager LP raised its holdings in shares of 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 purchasing an additional 8,390 shares during the period. Boothbay Fund Management LLC acquired a new stake in shares of PLBY Group during the second quarter worth $41,000. XTX Topco Ltd raised its holdings in shares of PLBY Group by 202.3% during the first quarter. XTX Topco Ltd now owns 42,518 shares of the company's stock worth $47,000 after purchasing an additional 28,453 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC raised its holdings in shares of PLBY Group by 42.4% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 30,760 shares of the company's stock worth $50,000 after purchasing an additional 9,160 shares during the period. 32.46% of the stock is owned by institutional investors and hedge funds.

PLBY Group Company Profile

PLBY Group, Inc operates as a pleasure and leisure company in the United States, Australia, China, the United Kingdom, and internationally. It operates through three segments: Licensing, Direct-to-Consumer, and Digital Subscriptions and Content. The company offers sexual wellness products, such as lingerie, bedroom accessories, intimacy products, and other adult products; style and apparel products for men and women; digital entertainment and lifestyle products; and beauty and grooming products for men and women, such as skincare, haircare, bath and body, grooming, cosmetics, and fragrance.

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