Playa Hotels & Resorts (NASDAQ:PLYA) Rating Lowered to “Market Perform” at Oppenheimer

Oppenheimer downgraded shares of Playa Hotels & Resorts (NASDAQ:PLYA) from an outperform rating to a market perform rating in a research note issued to investors on Tuesday, Marketbeat reports.

Several other analysts have also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut shares of Playa Hotels & Resorts from a “buy” rating to a “hold” rating and reduced their target price for the company from $15.00 to $13.50 in a report on Tuesday. Truist Financial restated a “hold” rating and issued a $13.00 price objective on shares of Playa Hotels & Resorts in a report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $12.10.

Playa Hotels & Resorts Price Performance

PLYA stock opened at $13.29 on Tuesday. The business’s 50-day moving average is $11.86 and its two-hundred day moving average is $9.57. The company has a debt-to-equity ratio of 2.16, a current ratio of 2.24 and a quick ratio of 2.14. The firm has a market capitalization of $1.62 billion, a P/E ratio of 27.69, a P/E/G ratio of 1.83 and a beta of 1.54. Playa Hotels & Resorts has a 1 year low of $6.95 and a 1 year high of $13.29.

Hedge Funds Weigh In On Playa Hotels & Resorts

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC raised its holdings in Playa Hotels & Resorts by 86.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,372 shares of the company’s stock worth $119,000 after purchasing an additional 4,342 shares in the last quarter. Avidian Wealth Enterprises LLC acquired a new stake in Playa Hotels & Resorts during the 4th quarter worth $126,000. Barclays PLC lifted its position in Playa Hotels & Resorts by 993.7% in the third quarter. Barclays PLC now owns 21,240 shares of the company’s stock valued at $165,000 after acquiring an additional 19,298 shares during the last quarter. FMR LLC boosted its stake in Playa Hotels & Resorts by 59.5% in the third quarter. FMR LLC now owns 26,041 shares of the company’s stock valued at $202,000 after acquiring an additional 9,713 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Playa Hotels & Resorts in the fourth quarter valued at $226,000. 74.58% of the stock is owned by institutional investors and hedge funds.

About Playa Hotels & Resorts

Playa Hotels & Resorts NV engages in the operation of hotels and resorts. The firm’s geographical segments include Yucatán Peninsula, Pacific Coast, Dominican Republic, and Jamaica. It owns all-inclusive oceanfront resorts in Cancun, Los Cabos, Montego Bay, Puerto Vallarta, Playa del Carmen, and Cap Cana.