PLBY Group, Inc. (NASDAQ:PLBY) has recently seen significant trading activity from its Chief Financial Officer and Chief Operating Officer, Marc Crossman. According to the latest filings, Crossman has sold a substantial number of shares in the company.
The transactions, which took place over two separate days, involved the sale of 77,098 shares at a weighted average price of $0.8846 on May 24, and 56,235 shares at a weighted average price of $0.8697 on May 28. The total value of the shares sold amounts to over $117,108, with individual sale prices ranging between $0.8697 and $0.9069.
The sales were conducted for personal reasons, including to satisfy tax withholding obligations related to the settlement of restricted stock units and to meet obligations under a divorce decree. Following these transactions, Crossman still holds a significant stake in the company, with 266,667 shares remaining in his direct ownership.
Investors often monitor insider trading activity for insights into a company's financial health and management's confidence in the business. In the case of PLBY Group, these sales represent a notable change in ownership by a key executive, though they do not necessarily signal a shift in company strategy or performance.
PLBY Group, known for its diverse retail offerings, continues to operate under the leadership of its executive team, with Crossman playing a pivotal role in the company's financial and operational management. As always, investors are encouraged to consider the context of such transactions when evaluating their investment decisions.
InvestingPro Insights
Recent insider trading activity by PLBY Group's CFO and COO, Marc Crossman, has put the spotlight on the company's financial standing. In light of this, a closer look at PLBY Group's financial metrics and market performance may offer additional insights.
InvestingPro data indicates that PLBY Group has a market capitalization of approximately $64.8 million. The company has been grappling with a negative revenue growth, reporting a decrease of 21.66% in revenue over the last twelve months as of Q1 2024. This contraction is further underscored by a quarterly revenue decline of 19.56% in Q1 2024. Despite these challenges, PLBY Group boasts impressive gross profit margins of 66.56% over the same period, highlighting the company's ability to maintain profitability at the cost of goods sold level.
An intriguing aspect of PLBY's financial health is its debt situation, with an InvestingPro Tip pointing out that the company operates with a significant debt burden. This is a critical consideration for investors, as it may impact the company's flexibility and future growth potential. Additionally, another InvestingPro Tip notes that analysts do not anticipate PLBY Group will be profitable this year, which aligns with the reported negative return on assets of -38.35% over the last twelve months as of Q1 2024.
While the stock has experienced a large price uptick of 69.43% over the last six months, it's important to note that the price has still fallen significantly over the last five years. The volatility of PLBY's stock price is also highlighted by a 42.98% decline in the one-year price total return as of mid-2024.
For investors seeking a more comprehensive analysis, there are additional InvestingPro Tips available on PLBY Group. Using coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking further insights that could be crucial for making informed investment decisions. It's worth noting that there are 11 additional tips listed in InvestingPro for PLBY Group, providing a broader perspective on the company's financial outlook.
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