PLBY Group (NASDAQ:PLBY) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of PLBY Group (NASDAQ:PLBY) from a strong sell rating to a hold rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of PLBY Group in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, PLBY Group has an average rating of “Reduce”.

PLBY Group Stock Down 5.1%

PLBY stock opened at $1.11 on Tuesday. The company has a debt-to-equity ratio of 4.59, a quick ratio of 0.80 and a current ratio of 1.00. The company has a market capitalization of $128.72 million, a price-to-earnings ratio of -13.88 and a beta of 1.86. PLBY Group has a fifty-two week low of $1.09 and a fifty-two week high of $2.75. The stock has a fifty day moving average of $1.35 and a 200-day moving average of $1.64.

PLBY Group (NASDAQ:PLBY) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.04). The firm had revenue of $30.24 million during the quarter, compared to the consensus estimate of $30.71 million. PLBY Group had a negative net margin of 6.21% and a positive return on equity of 21.89%. As a group, equities research analysts predict that PLBY Group will post 0.02 earnings per share for the current year.

Insider Activity

In related news, major shareholder Special Opportuniti Drawbridge sold 1,904,762 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $1.05, for a total transaction of $2,000,000.10. Following the sale, the insider directly owned 177,339 shares in the company, valued at approximately $186,205.95. The trade was a 91.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Bernhard L. Kohn III sold 109,342 shares of the business’s stock in a transaction on 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 disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 3,103,064 shares of company stock worth $3,674,690. 34.50% of the stock is owned by corporate insiders.

Institutional Trading of PLBY Group

Several institutional investors and hedge funds have recently modified their holdings of PLBY. Crcm LP grew its holdings 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 purchasing an additional 2,238,296 shares in the last quarter. Bbfit Investments PTE Ltd. purchased a new stake in PLBY Group in the fourth quarter valued at approximately $2,297,000. Jefferies Financial Group Inc. purchased a new stake in PLBY Group in the fourth quarter valued at approximately $94,000. Sfmg LLC lifted its position in PLBY Group by 50.0% during the fourth quarter. Sfmg LLC now owns 450,000 shares of the company’s stock valued at $846,000 after purchasing an additional 150,000 shares during the last quarter. Finally, Hudson Bay Capital Management LP purchased a new position in PLBY Group in the 3rd quarter worth approximately $52,000. 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 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.