PLBY Group, Inc.'s (NASDAQ:PLBY) General Counsel and Secretary, Christopher Riley, has recently sold a total of $14,659 worth of company stock, according to the latest SEC filings. The transactions occurred over two separate days, with shares being sold at prices ranging from $0.8655 to $0.8855.
On May 24, 2024, Riley sold 7,603 shares of PLBY Group at an average price of $0.8855 per share. This sale was part of a transaction to cover tax withholding obligations associated with the settlement of restricted stock units previously granted to Riley. The sale amounted to approximately $6,735.
A few days later, on May 28, Riley sold another batch of 9,159 shares at an average price of $0.8655 per share, totaling approximately $7,924. Similar to the first transaction, this sale was also to cover tax obligations related to the settlement of restricted stock units.
The footnotes attached to the SEC filing indicate that the prices reported are weighted averages, and the shares were sold in multiple transactions within the given ranges. Riley has committed to providing full information regarding the number of shares sold at each separate price upon request.
Following these transactions, Riley still holds a significant number of shares in the company, with 468,755 shares remaining in his possession.
Investors often keep a close eye on insider transactions as they can provide insights into the company's performance and the confidence that executives have in the company's future. PLBY Group, known for its diverse retail operations, continues to be monitored by shareholders and market analysts alike. Riley's recent stock sales are just one of the many financial moves that can influence investor perceptions and decisions.
InvestingPro Insights
Amid the insider trading activity at PLBY Group, Inc., current metrics and analyst projections provide a broader context for investors. With a market capitalization of $64.8 million, the company is navigating challenging financial waters. The latest data highlights a significant revenue decline over the last twelve months as of Q1 2024, with a drop of 21.66%. This is mirrored in the quarterly figures, showing a 19.56% decrease in revenue growth for Q1 2024. Despite these challenges, PLBY Group maintains impressive gross profit margins, clocking in at 66.56% for the same period.
Investors should note the company's price volatility, as evidenced by a 69.43% increase in the 6-month price total return, juxtaposed with a 42.98% decrease over the past year. Additionally, the InvestingPro Fair Value estimate stands at $0.85, close to the recent trading prices reported in the insider transactions. This suggests that the stock is trading near what analysts believe to be its fair value.
InvestingPro Tips for PLBY Group reveal that analysts are not optimistic about the company's profitability in the near term, and they expect a sales decline in the current year. Moreover, the company is grappling with a significant debt burden and a quick cash burn, which could impact its financial stability. For investors seeking a deeper dive into PLBY Group's financial health and future prospects, there are 11 additional tips available on InvestingPro. Utilize the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription to access these valuable insights.
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