Playa Hotels & Resorts (NASDAQ:PLYA) Hits New 12-Month High – Here’s Why

Playa Hotels & Resorts (NASDAQ:PLYA) shares hit a new 52-week high during trading on Friday . The company traded as high as $13.38 and last traded at $13.35, with a volume of 3060697 shares traded. The stock had previously closed at $13.32.

Analyst Upgrades and Downgrades

A number of analysts have commented on PLYA shares. Deutsche Bank Aktiengesellschaft cut Playa Hotels & Resorts from a “buy” rating to a “hold” rating and reduced their price target for the stock from $15.00 to $13.50 in a research report on Tuesday, February 11th. Macquarie cut Playa Hotels & Resorts from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Truist Financial reaffirmed a “hold” rating and issued a $13.00 price objective on shares of Playa Hotels & Resorts in a research note on Tuesday, January 7th. Finally, Oppenheimer lowered Playa Hotels & Resorts from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 11th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $12.10.

Playa Hotels & Resorts Trading Up 0.2 %

The company has a debt-to-equity ratio of 2.16, a quick ratio of 2.14 and a current ratio of 2.24. The company has a 50 day moving average of $12.73 and a two-hundred day moving average of $10.06. The stock has a market capitalization of $1.64 billion, a PE ratio of 27.81, a P/E/G ratio of 2.44 and a beta of 1.54.

Playa Hotels & Resorts (NASDAQ:PLYA) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.04. The business had revenue of $218.94 million during the quarter, compared to analysts’ expectations of $212.26 million. Playa Hotels & Resorts had a return on equity of 14.12% and a net margin of 6.84%. Sell-side analysts predict that Playa Hotels & Resorts will post 0.56 EPS for the current year.

Institutional Investors Weigh In On Playa Hotels & Resorts

A number of large investors have recently made changes to their positions in PLYA. Tower Research Capital LLC TRC grew its position in Playa Hotels & Resorts by 5,003.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,266 shares of the company’s stock worth $41,000 after acquiring an additional 3,202 shares during the period. Steward Partners Investment Advisory LLC raised its stake in shares of Playa Hotels & Resorts by 86.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,372 shares of the company’s stock valued at $119,000 after acquiring an additional 4,342 shares in the last quarter. Avidian Wealth Enterprises LLC acquired a new stake in shares of Playa Hotels & Resorts in the fourth quarter valued at $126,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Playa Hotels & Resorts in the fourth quarter valued at $226,000. Finally, Freestone Grove Partners LP acquired a new stake in shares of Playa Hotels & Resorts in the fourth quarter valued at $263,000. 74.58% of the stock is currently owned by hedge funds and other institutional investors.

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.