PLBY Group (NASDAQ:PLBY) Stock Sees Heavy Call Option Buying

PLBY Group, Inc. (NASDAQ:PLBY) saw some unusual options trading activity on Tuesday. Stock traders bought 3,595 call options on the company. This is an increase of approximately 1,102% compared to the typical daily volume of 299 call options.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Zacks Research upgraded shares of PLBY Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 14th. Weiss Ratings raised PLBY Group from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce”.

PLBY Group Stock Performance

Shares of NASDAQ PLBY opened at $0.99 on Thursday. The company has a quick ratio of 0.64, a current ratio of 0.79 and a debt-to-equity ratio of 6.83. The business’s 50 day moving average is $1.13 and its two-hundred day moving average is $1.32. The company has a market cap of $118.61 million, a P/E ratio of 20.40 and a beta of 1.96. PLBY Group has a 12 month low of $0.95 and a 12 month high of $2.75.

Insiders Place Their Bets

In related news, Director Tracey E. Edmonds sold 25,900 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $165,013.48. This represents a 15.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Special Opportuniti Drawbridge sold 2,857,143 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were 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 owned 142,835 shares in the company, valued at $149,976.75. The trade was a 95.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 2,908,159 shares of company stock valued at $3,060,178 over the last 90 days. 34.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PLBY Group

Hedge funds have recently modified their holdings of the business. CTC Alternative Strategies Ltd. acquired a new position in PLBY Group during the 1st quarter valued at $27,000. Bogart Wealth LLC boosted its holdings in PLBY Group by 66.7% in the 1st quarter. Bogart Wealth LLC now owns 25,000 shares of the company’s stock valued at $38,000 after purchasing an additional 10,000 shares during the period. Patriot Financial Group Insurance Agency LLC grew its position in PLBY Group by 136.5% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 25,366 shares of the company’s stock worth $39,000 after purchasing an additional 14,641 shares during the last quarter. Kestra Advisory Services LLC grew its position in PLBY Group by 30.4% in the 1st 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 last quarter. Finally, Bank of America Corp DE grew its position in PLBY Group by 56.5% in the 1st 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 last quarter. 32.46% of the stock is owned by institutional investors.

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.