Playa Hotels & Resorts (NASDAQ:PLYA) Sees Large Volume Increase – Here’s What Happened

Shares of Playa Hotels & Resorts (NASDAQ:PLYA) saw unusually-strong trading volume on Monday . Approximately 22,729,671 shares changed hands during trading, an increase of 1,384% from the previous session’s volume of 1,531,392 shares.The stock last traded at $13.32 and had previously closed at $13.33.

Analyst Ratings Changes

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

Playa Hotels & Resorts Price Performance

The company’s 50 day moving average price is $13.04 and its 200 day moving average price is $10.76. 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 market cap of $1.64 billion, a price-to-earnings ratio of 27.79, a P/E/G ratio of 2.44 and a beta of 1.44.

Playa Hotels & Resorts (NASDAQ:PLYA) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. Playa Hotels & Resorts had a net margin of 6.84% and a return on equity of 14.12%. The firm had revenue of $218.94 million for the quarter, compared to analyst estimates of $212.26 million. On average, equities research analysts predict that Playa Hotels & Resorts will post 0.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Playa Hotels & Resorts

Several institutional investors have recently bought and sold shares of the business. Long Pond Capital LP increased its stake in shares of Playa Hotels & Resorts by 16.2% in the fourth quarter. Long Pond Capital LP now owns 7,941,444 shares of the company’s stock valued at $100,459,000 after buying an additional 1,107,983 shares in the last quarter. Voss Capital LP increased its position in Playa Hotels & Resorts by 54.5% in the 4th quarter. Voss Capital LP now owns 6,576,824 shares of the company’s stock valued at $83,197,000 after acquiring an additional 2,320,641 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Playa Hotels & Resorts by 8.9% in the fourth quarter. American Century Companies Inc. now owns 2,980,647 shares of the company’s stock worth $37,705,000 after acquiring an additional 244,584 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Playa Hotels & Resorts by 18.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,434,496 shares of the company’s stock worth $30,796,000 after purchasing an additional 387,270 shares in the last quarter. Finally, New South Capital Management Inc. bought a new stake in shares of Playa Hotels & Resorts during the fourth quarter valued at approximately $11,374,000. Institutional investors own 74.58% of the company’s stock.

Playa Hotels & Resorts Company Profile

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.