Playa Hotels & Resorts (NASDAQ:PLYA) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Playa Hotels & Resorts (NASDAQ:PLYA) from a buy rating to a hold rating in a research report sent to investors on Thursday morning, Zacks.com reports.

According to Zacks, “Playa Hotels & Resorts N.V. is an owner, operator and developer of resorts primarily in Mexico and the Caribbean. The company owns and manages Hyatt Zilara and Hyatt Ziva Cancun, Hyatt Zilara and Hyatt Ziva Rose Hall Jamaica, Hyatt Ziva Puerto Vallarta and Hyatt Ziva Los Cabos. Playa Hotels & Resorts N.V. is based in Faifax, United States. “

Other research analysts have also issued research reports about the company. BidaskClub upgraded Misonix from a buy rating to a strong-buy rating in a research report on Wednesday, July 3rd. TheStreet lowered YRC Worldwide from a c rating to a d+ rating in a research report on Wednesday, May 15th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Playa Hotels & Resorts currently has an average rating of Hold and an average target price of $11.35.

Shares of NASDAQ:PLYA opened at $7.63 on Thursday. Playa Hotels & Resorts has a 1 year low of $5.98 and a 1 year high of $11.01. The stock has a market cap of $995.07 million, a price-to-earnings ratio of 19.08 and a beta of 0.40. The company has a quick ratio of 1.42, a current ratio of 1.52 and a debt-to-equity ratio of 1.12. The company’s 50 day simple moving average is $7.93.

Playa Hotels & Resorts (NASDAQ:PLYA) last announced its earnings results on Tuesday, May 7th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.18. Playa Hotels & Resorts had a return on equity of 5.89% and a net margin of 6.31%. The firm had revenue of $195.80 million for the quarter, compared to analyst estimates of $182.60 million. During the same quarter last year, the firm posted $0.32 EPS. The business’s revenue was up 10.7% on a year-over-year basis. As a group, analysts forecast that Playa Hotels & Resorts will post 0.19 earnings per share for the current year.

In related news, insider Brandon B. Buhler sold 7,475 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $8.20, for a total value of $61,295.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brandon B. Buhler sold 4,911 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $8.12, for a total value of $39,877.32. The disclosure for this sale can be found here. Company insiders own 3.67% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royce & Associates LP acquired a new position in Playa Hotels & Resorts in the 1st quarter valued at $1,551,000. Northwood Liquid Management LP acquired a new position in Playa Hotels & Resorts in the 4th quarter valued at $11,182,000. Long Pond Capital LP acquired a new position in Playa Hotels & Resorts in the 1st quarter valued at $10,725,000. D. E. Shaw & Co. Inc. raised its stake in Playa Hotels & Resorts by 59.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 238,052 shares of the company’s stock valued at $1,712,000 after purchasing an additional 89,086 shares during the last quarter. Finally, BlackRock Inc. raised its stake in Playa Hotels & Resorts by 2.9% in the 4th quarter. BlackRock Inc. now owns 1,154,224 shares of the company’s stock valued at $8,299,000 after purchasing an additional 32,989 shares during the last quarter. 70.88% of the stock is owned by hedge funds and other institutional investors.

Playa Hotels & Resorts Company Profile

Playa Hotels & Resorts N.V. owns, operates, and develops all-inclusive resorts in prime beachfront locations in various vacation destinations in Mexico and the Caribbean. The company operates under eight brand names. As of February 28, 2019, it owned a portfolio consisting of 21 resorts comprising 7,908 rooms located in Mexico, Jamaica, and the Dominican Republic.

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