Playa Hotels & Resorts (NASDAQ:PLYA – Get Rating) saw a large increase in short interest during the month of April. As of April 30th, there was short interest totaling 2,880,000 shares, an increase of 53.2% from the April 15th total of 1,880,000 shares. Based on an average daily trading volume, of 1,420,000 shares, the days-to-cover ratio is currently 2.0 days. Currently, 2.2% of the shares of the company are short sold.
Playa Hotels & Resorts stock opened at $8.81 on Friday. Playa Hotels & Resorts has a 12-month low of $6.13 and a 12-month high of $9.81. The stock has a market capitalization of $1.46 billion, a P/E ratio of 67.77, a P/E/G ratio of 0.31 and a beta of 1.68. The firm’s 50-day moving average is $8.64 and its two-hundred day moving average is $8.19. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.43 and a quick ratio of 2.32.
Playa Hotels & Resorts (NASDAQ:PLYA – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.08. Playa Hotels & Resorts had a net margin of 3.37% and a return on equity of 0.64%. The company had revenue of $219.60 million for the quarter, compared to analysts’ expectations of $196.76 million. During the same period last year, the company earned ($0.31) EPS. The firm’s revenue for the quarter was up 182.6% compared to the same quarter last year. As a group, analysts forecast that Playa Hotels & Resorts will post 0.22 EPS for the current year.
Several research firms have weighed in on PLYA. TheStreet upgraded shares of Playa Hotels & Resorts from a “d+” rating to a “c-” rating in a report on Monday, February 28th. Oppenheimer began coverage on shares of Playa Hotels & Resorts in a report on Thursday, April 21st. They set an “outperform” rating and a $13.00 target price for the company. Truist Financial upgraded shares of Playa Hotels & Resorts from a “hold” rating to a “buy” rating and raised their target price for the company from $8.00 to $11.00 in a report on Monday, May 9th. Zacks Investment Research raised shares of Playa Hotels & Resorts from a “hold” rating to a “buy” rating and set a $9.75 price target on the stock in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Playa Hotels & Resorts from $13.00 to $15.00 in a research note on Monday, May 9th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $11.55.
In other news, Director Karl Mr. Peterson sold 35,000 shares of the stock in a transaction dated Thursday, March 17th. The shares were sold at an average price of $8.58, for a total value of $300,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Maria M. Miller purchased 5,250 shares of the business’s stock in a transaction dated Wednesday, March 2nd. The stock was bought at an average price of $9.48 per share, with a total value of $49,770.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 250,000 shares of company stock valued at $2,105,900. 6.91% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its position in shares of Playa Hotels & Resorts by 198.2% in the first quarter. Renaissance Technologies LLC now owns 584,500 shares of the company’s stock worth $5,056,000 after acquiring an additional 388,500 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Playa Hotels & Resorts by 2.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 666,151 shares of the company’s stock worth $5,763,000 after acquiring an additional 16,422 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Playa Hotels & Resorts in the first quarter worth approximately $940,000. Bridgefront Capital LLC acquired a new stake in shares of Playa Hotels & Resorts in the first quarter worth approximately $99,000. Finally, Mackenzie Financial Corp acquired a new stake in shares of Playa Hotels & Resorts in the first quarter worth approximately $447,000. 80.54% of the stock is currently owned by institutional investors and hedge funds.
Playa Hotels & Resorts Company Profile (GetRated)
Playa Hotels & Resorts NV, together with its subsidiaries, owns, develops, and operates resorts in prime beachfront locations in Mexico and the Caribbean. As of December 31, 2021, it owned a portfolio of 22 resorts with 8,366 rooms located in Mexico, Jamaica, and the Dominican Republic. The company was founded in 2006 and is headquartered in Fairfax, Virginia.
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