Playa Hotels & Resorts (NASDAQ:PLYA) Downgraded by Macquarie to “Hold”

Playa Hotels & Resorts (NASDAQ:PLYA) was downgraded by Macquarie from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

A number of other research firms have also issued reports on PLYA. Deutsche Bank Aktiengesellschaft lowered Playa Hotels & Resorts from a “buy” rating to a “hold” rating and lowered their target price for the stock from $15.00 to $13.50 in a report on Tuesday. Truist Financial reiterated a “hold” rating and issued a $13.00 target price on shares of Playa Hotels & Resorts in a report on Tuesday, January 7th. Finally, Oppenheimer cut shares of Playa Hotels & Resorts from an “outperform” rating to a “market perform” rating in a report on Tuesday. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, Playa Hotels & Resorts presently has an average rating of “Hold” and a consensus price target of $12.10.

Playa Hotels & Resorts Stock Performance

Shares of NASDAQ PLYA opened at $13.28 on Monday. Playa Hotels & Resorts has a 1 year low of $6.95 and a 1 year high of $13.32. The firm has a market cap of $1.61 billion, a P/E ratio of 27.67, a PEG ratio of 1.83 and a beta of 1.54. The stock has a fifty day moving average price of $11.92 and a two-hundred day moving average price of $9.60. The company has a debt-to-equity ratio of 2.16, a quick ratio of 2.14 and a current ratio of 2.24.

Hedge Funds Weigh In On Playa Hotels & Resorts

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SkyView Investment Advisors LLC boosted its position in shares of Playa Hotels & Resorts by 3.0% in the third quarter. SkyView Investment Advisors LLC now owns 57,687 shares of the company’s stock worth $447,000 after buying an additional 1,664 shares during the period. PDT Partners LLC grew its stake in Playa Hotels & Resorts by 3.1% during the 3rd quarter. PDT Partners LLC now owns 115,065 shares of the company’s stock valued at $892,000 after acquiring an additional 3,502 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Playa Hotels & Resorts by 13.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,339 shares of the company’s stock valued at $227,000 after purchasing an additional 3,555 shares during the period. Steward Partners Investment Advisory LLC lifted its position in shares of Playa Hotels & Resorts by 86.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,372 shares of the company’s stock worth $119,000 after purchasing an additional 4,342 shares in the last quarter. Finally, King Luther Capital Management Corp lifted its position in Playa Hotels & Resorts by 1.2% in the 3rd quarter. King Luther Capital Management Corp now owns 429,200 shares of the company’s stock worth $3,326,000 after buying an additional 5,154 shares in the last quarter. Institutional investors and hedge funds own 74.58% of the company’s stock.

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.