PLBY Group (NASDAQ:PLBY) Stock Price Down 0.5% - Time to Sell?

Key Points

• PLBY Group shares fell 0.5% to about $1.025 during mid-day trading, with volume 34% above its average. The stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is cautious: Zacks Research upgraded the stock to “hold,” while Weiss Ratings improved its rating but still classified it as “sell.” MarketBeat analysts give PLBY an average “Reduce” rating.
• Insiders have been selling shares, including director Tracey Edmonds and CEO L III, while insiders collectively sold more than 3.3 million shares over the past 90 days. The company also carries substantial leverage, with a debt-to-equity ratio of 6.83.

PLBY Group, Inc. (NASDAQ:PLBY - Get Free Report) shares dropped 0.5% during mid-day trading on Wednesday. The company traded as low as $1.01 and last traded at $1.0250. Approximately 674,857 shares traded hands during mid-day trading, an increase of 34% from the average daily volume of 503,536 shares. The stock had previously closed at $1.03.

Analysts Set New Price Targets

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

PLBY Group Stock Performance

The stock has a market capitalization of $122.81 million, a PE ratio of 20.60 and a beta of 1.91. The firm's fifty day moving average is $1.17 and its 200-day moving average is $1.37. 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 Activity at PLBY Group

In other PLBY Group news, Director Tracey E. Edmonds sold 25,900 shares of PLBY Group stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $1.16, for a total transaction of $30,044.00. Following the completion of the sale, the director directly owned 142,253 shares in the company, valued at $165,013.48. This trade represents a 15.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO L III sold 106,152 shares of the business's stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $1.14, for a total transaction of $121,013.28. Following the completion of the sale, the chief executive officer directly owned 5,488,408 shares in the company, valued at $6,256,785.12. This trade represents a 1.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 3,307,561 shares of company stock valued at $3,527,689 in the last ninety days. Insiders own 34.50% of the company's stock.

Institutional Trading of PLBY Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Crcm LP boosted its position in shares of PLBY Group by 154.2% during the fourth quarter. Crcm LP now owns 3,689,452 shares of the company's stock worth $6,936,000 after buying an additional 2,238,296 shares during the period. Bbfit Investments PTE Ltd. purchased a new stake in shares of PLBY Group in the 4th quarter valued at $2,297,000. Sei Investments Co. acquired a new position in PLBY Group during the 1st quarter worth about $577,000. Hillsdale Investment Management Inc. acquired a new position in PLBY Group during the 1st quarter worth about $228,000. Finally, Bank of America Corp DE boosted its holdings in PLBY Group by 56.5% during the 1st quarter. Bank of America Corp DE now owns 85,154 shares of the company's stock valued at $129,000 after acquiring an additional 30,734 shares during the period. Hedge funds and other institutional investors own 32.46% of the company's stock.

About PLBY Group

PLBY Group, Inc is a global media and lifestyle company built around the Playboy brand. Its activities have included brand licensing, digital media, content production, consumer products, and entertainment offerings designed to extend Playboy's identity across multiple categories and geographies.

The company has generated revenue through licensing agreements with third-party manufacturers and retailers, as well as through Playboy-branded products and digital experiences. Its portfolio has included apparel, accessories, beauty and grooming products, home goods, gaming and other consumer merchandise, along with online content and membership-oriented offerings.

Playboy was founded in 1953 by Hugh Hefner, initially as a magazine publisher, and developed into an internationally recognized lifestyle brand.

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