Playa Hotels & Resorts (NASDAQ:PLYA) Stock Rating Reaffirmed by Oppenheimer

Oppenheimer restated their outperform rating on shares of Playa Hotels & Resorts (NASDAQ:PLYA) in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a $12.00 target price on the stock.

Separately, Deutsche Bank Aktiengesellschaft reduced their price target on Playa Hotels & Resorts from $16.00 to $14.00 and set a buy rating on the stock in a research report on Thursday, May 9th.

Playa Hotels & Resorts Price Performance

PLYA opened at $8.47 on Wednesday. The stock’s 50-day moving average price is $8.44 and its 200 day moving average price is $8.77. Playa Hotels & Resorts has a 12-month low of $6.88 and a 12-month high of $9.85. The company has a current ratio of 2.26, a quick ratio of 2.16 and a debt-to-equity ratio of 1.81. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 0.67 and a beta of 1.60.

Playa Hotels & Resorts (NASDAQ:PLYA) last posted its earnings results on Monday, May 6th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.06. Playa Hotels & Resorts had a return on equity of 12.08% and a net margin of 6.52%. The firm had revenue of $300.64 million for the quarter, compared to analyst estimates of $273.77 million. During the same quarter in the prior year, the company earned $0.31 EPS. Playa Hotels & Resorts’s revenue was up 9.8% on a year-over-year basis. As a group, sell-side analysts expect that Playa Hotels & Resorts will post 0.56 earnings per share for the current year.

Insider Buying and Selling at Playa Hotels & Resorts

In other Playa Hotels & Resorts news, Director Karl Mr. Peterson sold 60,000 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $8.31, for a total value of $498,600.00. Following the sale, the director now owns 2,469,033 shares of the company’s stock, valued at approximately $20,517,664.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 9.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PLYA. American Century Companies Inc. increased its holdings in shares of Playa Hotels & Resorts by 9.1% in the 3rd quarter. American Century Companies Inc. now owns 1,857,584 shares of the company’s stock valued at $13,449,000 after acquiring an additional 155,349 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Playa Hotels & Resorts by 2.3% in the 4th quarter. Raymond James & Associates now owns 65,821 shares of the company’s stock valued at $569,000 after acquiring an additional 1,500 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Playa Hotels & Resorts by 6.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 251,707 shares of the company’s stock worth $2,177,000 after buying an additional 15,135 shares during the last quarter. Clear Harbor Asset Management LLC grew its stake in Playa Hotels & Resorts by 8.5% during the 4th quarter. Clear Harbor Asset Management LLC now owns 31,900 shares of the company’s stock worth $276,000 after buying an additional 2,500 shares during the last quarter. Finally, HBK Sorce Advisory LLC grew its stake in Playa Hotels & Resorts by 6.2% during the 4th quarter. HBK Sorce Advisory LLC now owns 23,548 shares of the company’s stock worth $204,000 after buying an additional 1,369 shares during the last quarter. Hedge funds and other institutional investors own 74.58% of the company’s stock.

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.