State of New Jersey Common Pension Fund D Cuts Position in Playa Hotels & Resorts (NASDAQ:PLYA)

State of New Jersey Common Pension Fund D decreased its stake in Playa Hotels & Resorts (NASDAQ:PLYA) by 32.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 145,392 shares of the company’s stock after selling 69,608 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.11% of Playa Hotels & Resorts worth $1,220,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Gladius Capital Management LP acquired a new stake in Playa Hotels & Resorts in the second quarter valued at $61,000. Lazard Asset Management LLC purchased a new stake in shares of Playa Hotels & Resorts in the 1st quarter worth about $95,000. Quadrature Capital Ltd acquired a new stake in Playa Hotels & Resorts in the 1st quarter valued at about $98,000. AdvisorShares Investments LLC acquired a new stake in Playa Hotels & Resorts in the 2nd quarter valued at about $105,000. Finally, Counterpoint Mutual Funds LLC purchased a new position in Playa Hotels & Resorts during the 1st quarter valued at about $134,000. Hedge funds and other institutional investors own 74.58% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Truist Financial lowered their target price on Playa Hotels & Resorts from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft dropped their price objective on Playa Hotels & Resorts from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Citigroup reissued a “neutral” rating and issued a $8.00 target price (down previously from $12.00) on shares of Playa Hotels & Resorts in a research note on Tuesday, August 13th. Oppenheimer decreased their price target on shares of Playa Hotels & Resorts from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Macquarie reissued an “outperform” rating and issued a $14.00 price objective on shares of Playa Hotels & Resorts in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Playa Hotels & Resorts presently has an average rating of “Moderate Buy” and an average price target of $11.00.

Playa Hotels & Resorts Stock Performance

Shares of PLYA opened at $7.76 on Thursday. Playa Hotels & Resorts has a 52-week low of $6.88 and a 52-week high of $9.85. The company has a quick ratio of 2.13, a current ratio of 2.23 and a debt-to-equity ratio of 1.93. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 0.84 and a beta of 1.62. The business’s 50 day moving average is $7.82 and its two-hundred day moving average is $8.49.

Playa Hotels & Resorts (NASDAQ:PLYA) last released its earnings results on Monday, August 5th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The company had revenue of $235.48 million for the quarter, compared to the consensus estimate of $228.95 million. Playa Hotels & Resorts had a return on equity of 11.79% and a net margin of 5.85%. Playa Hotels & Resorts’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 EPS. Analysts forecast that Playa Hotels & Resorts will post 0.41 EPS for the current fiscal year.

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.