Playa Hotels & Resorts (NASDAQ:PLYA) Shares Gap Down to $7.36

Shares of Playa Hotels & Resorts (NASDAQ:PLYA) gapped down prior to trading on Wednesday . The stock had previously closed at $7.36, but opened at $7.17. Playa Hotels & Resorts shares last traded at $7.33, with a volume of 75,694 shares.

Wall Street Analysts Forecast Growth

PLYA has been the subject of several research reports. Citigroup reiterated a “neutral” rating and set a $8.00 price target (down from $12.00) on shares of Playa Hotels & Resorts in a report on Tuesday. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Playa Hotels & Resorts from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Oppenheimer decreased their target price on shares of Playa Hotels & Resorts from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Macquarie restated an “outperform” rating and set a $14.00 price target on shares of Playa Hotels & Resorts in a report on Wednesday, August 7th. Finally, Truist Financial decreased their price objective on shares of Playa Hotels & Resorts from $12.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, August 8th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.00.

Playa Hotels & Resorts Stock Down 0.8 %

The company has a quick ratio of 2.16, a current ratio of 2.23 and a debt-to-equity ratio of 1.93. The business has a 50-day simple moving average of $8.25 and a 200-day simple moving average of $8.74. The stock has a market cap of $972.22 million, a P/E ratio of 16.00, a PEG ratio of 0.60 and a beta of 1.60.

Playa Hotels & Resorts (NASDAQ:PLYA) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.02. Playa Hotels & Resorts had a net margin of 5.85% and a return on equity of 11.79%. The business had revenue of $235.48 million during the quarter, compared to the consensus estimate of $228.95 million. During the same period in the prior year, the firm earned $0.13 EPS. Playa Hotels & Resorts’s quarterly revenue was down 5.1% compared to the same quarter last year. Analysts expect that Playa Hotels & Resorts will post 0.56 EPS for the current year.

Insider Buying and Selling at Playa Hotels & Resorts

In other news, Director Karl Mr. Peterson sold 60,000 shares of Playa Hotels & Resorts stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $8.31, for a total value of $498,600.00. Following the transaction, the director now directly owns 2,469,033 shares in the company, valued at $20,517,664.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 9.70% of the company’s stock.

Institutional Investors Weigh In On Playa Hotels & Resorts

Several hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. raised its stake in Playa Hotels & Resorts by 9.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,421,243 shares of the company’s stock valued at $46,894,000 after purchasing an additional 461,888 shares during the last quarter. Renaissance Group LLC increased its holdings in shares of Playa Hotels & Resorts by 7.8% during the 4th quarter. Renaissance Group LLC now owns 348,186 shares of the company’s stock worth $3,012,000 after purchasing an additional 25,133 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Playa Hotels & Resorts by 11.0% in the fourth quarter. BNP Paribas Financial Markets now owns 1,008,037 shares of the company’s stock valued at $8,720,000 after buying an additional 99,649 shares during the period. Inceptionr LLC acquired a new stake in shares of Playa Hotels & Resorts during the 4th quarter worth approximately $93,000. Finally, Halter Ferguson Financial Inc. bought a new stake in Playa Hotels & Resorts in the fourth quarter valued at $3,285,000. 74.58% of the stock is owned by institutional investors.

Playa Hotels & Resorts Company Profile

Playa Hotels & Resorts N.V., together with its subsidiaries, owns, develops, and operates resorts in prime beachfront locations in Mexico and the Caribbean. It owns and manages Hyatt Zilara Cancún, Hyatt Ziva Cancún, Wyndham Alltra Cancún, Wyndham Alltra Playa del Carmen, Hilton Playa del Carmen All-Inclusive Resort, Hyatt Ziva Puerto Vallarta, and Hyatt Ziva Los Cabos located in Mexico; Hyatt Zilara Rose Hall, Hyatt Ziva Rose Hall, Hilton Rose Hall Resort & Spa, Jewel Grande Montego Bay Resort & Spa, and Jewel Paradise Cove Beach Resort & Spa situated in Jamaica; the Hilton La Romana All-Inclusive Family Resort, the Hilton La Romana All-Inclusive Adult Resort, Hyatt Zilara Cap Cana, Hyatt Ziva Cap Cana, and Jewel Palm Beach located in the Dominican Republic; and manages resorts on behalf of third-party owners.