Playa Hotels & Resorts (NASDAQ:PLYA) PT Lowered to $10.00 at Oppenheimer

Playa Hotels & Resorts (NASDAQ:PLYA) had its price objective dropped by equities research analysts at Oppenheimer from $12.00 to $10.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price objective would suggest a potential upside of 37.36% from the stock’s current price.

A number of other equities analysts also recently weighed in on PLYA. Deutsche Bank Aktiengesellschaft cut their target price on Playa Hotels & Resorts from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Macquarie reiterated an “outperform” rating and issued a $14.00 price objective on shares of Playa Hotels & Resorts in a research note on Wednesday. Finally, Truist Financial dropped their price objective on Playa Hotels & Resorts from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday.

Playa Hotels & Resorts Trading Down 0.3 %

Shares of NASDAQ:PLYA traded down $0.02 during midday trading on Thursday, reaching $7.28. The company’s stock had a trading volume of 136,106 shares, compared to its average volume of 624,961. Playa Hotels & Resorts has a fifty-two week low of $6.88 and a fifty-two week high of $9.85. The firm has a market capitalization of $969.56 million, a price-to-earnings ratio of 15.83, a PEG ratio of 0.65 and a beta of 1.60. The firm has a 50 day moving average price of $8.34 and a two-hundred day moving average price of $8.76. The company has a debt-to-equity ratio of 1.81, a quick ratio of 2.16 and a current ratio of 2.26.

Playa Hotels & Resorts (NASDAQ:PLYA) last issued its earnings results on Monday, August 5th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The business had revenue of $235.48 million during the quarter, compared to analyst estimates of $228.95 million. Playa Hotels & Resorts had a return on equity of 12.08% and a net margin of 6.52%. The firm’s revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.13 EPS. As a group, analysts forecast that Playa Hotels & Resorts will post 0.56 earnings per share for the current year.

Insider Transactions at Playa Hotels & Resorts

In other news, Director Karl Mr. Peterson sold 60,000 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $8.31, for a total transaction of $498,600.00. Following the completion of the sale, the director now directly owns 2,469,033 shares in the company, valued at $20,517,664.23. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 9.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Playa Hotels & Resorts

Institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its stake in shares of Playa Hotels & Resorts by 9.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,421,243 shares of the company’s stock worth $46,894,000 after buying an additional 461,888 shares during the period. Voss Capital LLC grew its holdings in Playa Hotels & Resorts by 14.2% during the 4th quarter. Voss Capital LLC now owns 3,596,890 shares of the company’s stock valued at $31,113,000 after buying an additional 446,890 shares in the last quarter. Halter Ferguson Financial Inc. purchased a new position in Playa Hotels & Resorts during the 4th quarter valued at approximately $3,285,000. American Century Companies Inc. grew its holdings in Playa Hotels & Resorts by 12.2% during the 2nd quarter. American Century Companies Inc. now owns 2,425,296 shares of the company’s stock valued at $20,348,000 after buying an additional 264,275 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in Playa Hotels & Resorts by 11.0% during the 4th 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 in the last quarter. Institutional investors own 74.58% of the company’s stock.

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.