PLBY Group (NASDAQ:PLBY) Stock Price Crosses Above Fifty Day Moving Average – What’s Next?

PLBY Group, Inc. (NASDAQ:PLBY) passed above its fifty day moving average during trading on Tuesday. The stock has a fifty 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 changing hands.

Analysts Set New Price Targets

Several research analysts have commented on PLBY shares. Weiss Ratings raised PLBY Group from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Zacks Research raised PLBY Group from a “strong sell” rating to a “hold” rating in a research 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce”.

PLBY Group Price Performance

The company’s 50-day simple moving average is $1.11 and its 200-day simple moving average is $1.45. The company has a market cap of $135.38 million, a price-to-earnings ratio of 21.80 and a beta of 1.96.

Insider Buying and Selling at PLBY Group

In related news, 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 sale, the insider directly owned 142,835 shares of the company’s stock, valued at approximately $149,976.75. This trade represents a 95.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tracey E. Edmonds sold 25,900 shares of PLBY Group stock in a transaction on Friday, September 4th. The stock was sold at an average price of $1.16, for a total transaction of $30,044.00. Following 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 position. The SEC filing for this sale provides additional information. Insiders sold 2,908,159 shares of company stock valued at $3,060,178 over the last 90 days. Insiders own 34.50% of the company’s stock.

Hedge Funds Weigh In On PLBY Group

Institutional investors have recently added to or reduced their stakes in the company. CTC Alternative Strategies Ltd. purchased a new position in PLBY Group in the 1st quarter valued at about $27,000. Bogart Wealth LLC grew its stake in shares of PLBY Group by 66.7% during the first quarter. Bogart Wealth LLC now owns 25,000 shares of the company’s stock valued at $38,000 after acquiring an additional 10,000 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in shares of PLBY Group by 136.5% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 25,366 shares of the company’s stock worth $39,000 after acquiring an additional 14,641 shares during the last quarter. Kestra Advisory Services LLC increased its position in shares of PLBY Group by 30.4% during the first quarter. Kestra Advisory Services LLC now owns 29,897 shares of the company’s stock worth $45,000 after acquiring an additional 6,965 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of PLBY Group by 56.5% during the first quarter. Bank of America Corp DE now owns 85,154 shares of the company’s stock worth $129,000 after acquiring an additional 30,734 shares during the last quarter. Institutional investors and hedge funds own 32.46% of the company’s stock.

About PLBY Group

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.