Playa Hotels & Resorts (NASDAQ:PLYA) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Playa Hotels & Resorts (NASDAQ:PLYA) saw unusually-high trading volume on Tuesday . Approximately 2,306,606 shares changed hands during trading, an increase of 80% from the previous session’s volume of 1,282,391 shares.The stock last traded at $13.31 and had previously closed at $13.32.

Analysts Set New Price Targets

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

Playa Hotels & Resorts Price Performance

The company has a current ratio of 2.24, a quick ratio of 2.14 and a debt-to-equity ratio of 2.16. The business has a 50-day moving average of $12.86 and a 200 day moving average of $10.37. The firm has a market capitalization of $1.64 billion, a PE ratio of 27.78, a price-to-earnings-growth ratio of 2.44 and a beta of 1.44.

Playa Hotels & Resorts (NASDAQ:PLYA) last issued 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. The company had revenue of $218.94 million during the quarter, compared to the consensus estimate of $212.26 million. Playa Hotels & Resorts had a return on equity of 14.12% and a net margin of 6.84%. As a group, research analysts anticipate that Playa Hotels & Resorts will post 0.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Playa Hotels & Resorts

A number of large investors have recently made changes to their positions in the stock. MQS Management LLC purchased a new stake in Playa Hotels & Resorts in the 3rd quarter worth approximately $689,000. Jane Street Group LLC grew its holdings in shares of Playa Hotels & Resorts by 207.8% during the third quarter. Jane Street Group LLC now owns 83,703 shares of the company’s stock worth $649,000 after purchasing an additional 56,506 shares in the last quarter. Nkcfo LLC bought a new position in shares of Playa Hotels & Resorts in the fourth quarter worth approximately $696,000. FMR LLC raised its stake in Playa Hotels & Resorts by 59.5% in the third quarter. FMR LLC now owns 26,041 shares of the company’s stock valued at $202,000 after purchasing an additional 9,713 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Playa Hotels & Resorts by 993.7% during the 3rd quarter. Barclays PLC now owns 21,240 shares of the company’s stock valued at $165,000 after buying an additional 19,298 shares in the last quarter. 74.58% of the stock is owned by 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.