PLBY Group (NASDAQ:PLBY) Stock Breaks Above 50-Day Moving Average – What’s Next?

PLBY Group, Inc. (NASDAQ:PLBY)’s stock price crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $1.11 and traded as high as $1.13. PLBY Group shares last traded at $1.13, with a volume of 312,327 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PLBY. Weiss Ratings raised shares of PLBY Group from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. Zacks Research upgraded shares of PLBY Group from a “strong sell” rating to a “hold” rating in a 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 stock. Based on data from MarketBeat, the company has an average rating of “Reduce”.

PLBY Group Stock Performance

The company has a 50-day simple moving average of $1.11 and a two-hundred day simple moving average of $1.44. The company has a debt-to-equity ratio of 6.83, a quick ratio of 0.64 and a current ratio of 0.79. The firm has a market capitalization of $140.18 million, a P/E ratio of 22.80 and a beta of 1.96.

Insider Buying and Selling

In other news, 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 transaction, the insider directly owned 142,835 shares in the company, valued at $149,976.75. This trade represents a 95.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tracey E. Edmonds sold 25,900 shares of the firm’s 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 sale, the director owned 142,253 shares of the company’s stock, valued at approximately $165,013.48. This represents a 15.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 2,908,159 shares of company stock valued at $3,060,178. 34.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PLBY Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CTC Alternative Strategies Ltd. purchased a new position in shares of PLBY Group in the first quarter worth approximately $27,000. Bank of America Corp DE increased its holdings 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 valued at $129,000 after buying an additional 30,734 shares during the last quarter. Sei Investments Co. bought a new position in PLBY Group in the first quarter worth approximately $577,000. Crcm LP raised its position in PLBY Group by 17.8% in the first quarter. Crcm LP now owns 4,345,517 shares of the company’s stock worth $6,605,000 after acquiring an additional 656,065 shares during the period. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of PLBY Group during the 1st quarter worth $228,000. Institutional investors own 32.46% of the company’s stock.

PLBY Group Company Profile

PLBY Group, Inc was a global media and lifestyle company associated with the Playboy brand. Its business focused on developing, licensing and marketing Playboy-branded products and experiences across categories including apparel, accessories, consumer products, digital media and sexual wellness.

The company’s operations were built around the Playboy intellectual property, which includes the Playboy name, rabbit-head logo, editorial archive and related creative assets. PLBY Group generated business through brand licensing, direct-to-consumer commerce, digital content and partnerships with manufacturers, retailers and other commercial operators.

Playboy was founded by Hugh Hefner in 1953 as a men’s lifestyle magazine and later expanded into television, publishing, hospitality, merchandise and licensing.