Playa Hotels & Resorts (NASDAQ:PLYA) Price Target Cut to $10.00

Playa Hotels & Resorts (NASDAQ:PLYA) had its price target decreased by stock analysts at Truist Financial from $12.00 to $10.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 33.87% from the company’s previous close.

Several other research firms also recently weighed in on PLYA. Macquarie reiterated an “outperform” rating and issued a $14.00 target price on shares of Playa Hotels & Resorts in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Playa Hotels & Resorts from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $12.00 price target on shares of Playa Hotels & Resorts in a report on Wednesday, July 10th.

Playa Hotels & Resorts Stock Performance

PLYA traded up $0.10 during midday trading on Thursday, reaching $7.47. The company had a trading volume of 1,018,531 shares, compared to its average volume of 620,525. Playa Hotels & Resorts has a 12-month low of $6.88 and a 12-month high of $9.85. The business has a 50-day moving average price of $8.30 and a two-hundred day moving average price of $8.75. The stock has a market cap of $994.85 million, a PE ratio of 16.24, a P/E/G ratio of 0.60 and a beta of 1.60. The company has a debt-to-equity ratio of 1.93, a quick ratio of 2.16 and a current ratio of 2.23.

Playa Hotels & Resorts (NASDAQ:PLYA) last released its earnings results on Monday, August 5th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The business had revenue of $235.48 million during 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%. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period last year, the business posted $0.13 earnings per share. On average, sell-side analysts expect that Playa Hotels & Resorts will post 0.56 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Karl Mr. Peterson sold 60,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $8.31, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PLYA. Raymond James & Associates boosted its stake in Playa Hotels & Resorts by 2.3% during the fourth quarter. Raymond James & Associates now owns 65,821 shares of the company’s stock valued at $569,000 after buying an additional 1,500 shares during the period. HBK Sorce Advisory LLC grew its holdings in shares of Playa Hotels & Resorts by 6.2% during the fourth quarter. HBK Sorce Advisory LLC now owns 23,548 shares of the company’s stock worth $204,000 after purchasing an additional 1,369 shares in the last quarter. Voss Capital LLC increased its position in shares of Playa Hotels & Resorts by 14.2% in the fourth quarter. Voss Capital LLC now owns 3,596,890 shares of the company’s stock worth $31,113,000 after purchasing an additional 446,890 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Playa Hotels & Resorts by 16.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,233 shares of the company’s stock valued at $158,000 after purchasing an additional 2,634 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Playa Hotels & Resorts by 17.8% in the fourth quarter. Russell Investments Group Ltd. now owns 60,415 shares of the company’s stock valued at $523,000 after purchasing an additional 9,139 shares in the last quarter. 74.58% of the stock is currently owned by hedge funds and other institutional investors.

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.