Playa Hotels & Resorts (NASDAQ:PLYA) Reaches New 52-Week High – Here’s Why

Playa Hotels & Resorts (NASDAQ:PLYA)’s share price hit a new 52-week high on Tuesday . The company traded as high as $13.44 and last traded at $13.43, with a volume of 1665792 shares changing hands. The stock had previously closed at $13.39.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft downgraded Playa Hotels & Resorts from a “buy” rating to a “hold” rating and lowered their target price for the company from $15.00 to $13.50 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. Truist Financial reissued a “hold” rating and issued a $13.00 price objective on shares of Playa Hotels & Resorts in a research report on Tuesday, January 7th. Finally, Oppenheimer cut Playa Hotels & Resorts from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 11th. Five analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $12.10.

Playa Hotels & Resorts Stock Up 0.1 %

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 company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 27.98, a price-to-earnings-growth ratio of 2.44 and a beta of 0.91. The company has a 50-day moving average of $13.34 and a 200-day moving average of $11.59.

Playa Hotels & Resorts (NASDAQ:PLYA) last released its earnings results on Tuesday, February 25th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.04. The company had revenue of $218.94 million for the quarter, compared to the consensus estimate of $212.26 million. Playa Hotels & Resorts had a net margin of 6.84% and a return on equity of 14.12%. On average, equities analysts predict that Playa Hotels & Resorts will post 0.56 earnings per share for the current fiscal year.

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 PLYA. Tower Research Capital LLC TRC increased its holdings in shares of Playa Hotels & Resorts by 5,003.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,266 shares of the company’s stock valued at $41,000 after purchasing an additional 3,202 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in Playa Hotels & Resorts by 86.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 9,372 shares of the company’s stock worth $119,000 after buying an additional 4,342 shares during the period. Avidian Wealth Enterprises LLC purchased a new position in Playa Hotels & Resorts during the 4th quarter worth approximately $126,000. Barclays PLC raised its holdings in shares of Playa Hotels & Resorts by 993.7% during the third quarter. Barclays PLC now owns 21,240 shares of the company’s stock worth $165,000 after purchasing an additional 19,298 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Playa Hotels & Resorts during the fourth quarter valued at $226,000. Hedge funds and other institutional investors 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.