Maverick Capital Ltd. Increases Stock Position in Playa Hotels & Resorts (NASDAQ:PLYA)

Maverick Capital Ltd. boosted its position in shares of Playa Hotels & Resorts (NASDAQ:PLYA) by 24.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 207,357 shares of the company’s stock after purchasing an additional 40,821 shares during the period. Maverick Capital Ltd.’s holdings in Playa Hotels & Resorts were worth $1,607,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Quadrature Capital Ltd acquired a new stake in shares of Playa Hotels & Resorts during the first quarter valued at about $98,000. Lazard Asset Management LLC purchased a new stake in Playa Hotels & Resorts during the 1st quarter worth approximately $95,000. Gladius Capital Management LP acquired a new position in shares of Playa Hotels & Resorts in the 2nd quarter valued at approximately $61,000. Bailard Inc. purchased a new position in shares of Playa Hotels & Resorts during the 2nd quarter valued at approximately $258,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Playa Hotels & Resorts by 15.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,784 shares of the company’s stock valued at $216,000 after buying an additional 3,371 shares during the last quarter. Institutional investors and hedge funds own 74.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PLYA. Citigroup reaffirmed a “neutral” rating and issued a $8.00 price target (down from $12.00) on shares of Playa Hotels & Resorts in a report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Playa Hotels & Resorts from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Macquarie reiterated an “outperform” rating and issued a $14.00 price target on shares of Playa Hotels & Resorts in a research note on Wednesday, August 7th. Oppenheimer upped their price objective on Playa Hotels & Resorts from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Finally, Truist Financial decreased their target price on Playa Hotels & Resorts from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $11.40.

Playa Hotels & Resorts Price Performance

Shares of NASDAQ:PLYA opened at $9.79 on Friday. The company has a market cap of $1.19 billion, a PE ratio of 20.40, a P/E/G ratio of 1.57 and a beta of 1.60. Playa Hotels & Resorts has a fifty-two week low of $6.95 and a fifty-two week high of $10.13. The firm has a 50-day simple moving average of $8.77 and a 200 day simple moving average of $8.34. The company has a quick ratio of 2.14, a current ratio of 2.24 and a debt-to-equity ratio of 2.16.

About Playa Hotels & Resorts

Playa Hotels & Resorts N.V., together with its subsidiaries, owns, develops, and operates resorts in prime beachfront locations in Mexico and the Caribbean. It owns and manages Hyatt Zilara Cancún, Hyatt Ziva Cancún, Wyndham Alltra Cancún, Wyndham Alltra Playa del Carmen, Hilton Playa del Carmen All-Inclusive Resort, Hyatt Ziva Puerto Vallarta, and Hyatt Ziva Los Cabos located in Mexico; Hyatt Zilara Rose Hall, Hyatt Ziva Rose Hall, Hilton Rose Hall Resort & Spa, Jewel Grande Montego Bay Resort & Spa, and Jewel Paradise Cove Beach Resort & Spa situated in Jamaica; the Hilton La Romana All-Inclusive Family Resort, the Hilton La Romana All-Inclusive Adult Resort, Hyatt Zilara Cap Cana, Hyatt Ziva Cap Cana, and Jewel Palm Beach located in the Dominican Republic; and manages resorts on behalf of third-party owners.