Bailard Inc. Buys New Stake in Playa Hotels & Resorts (NASDAQ:PLYA)

Bailard Inc. purchased a new position in shares of Playa Hotels & Resorts (NASDAQ:PLYA) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 30,700 shares of the company’s stock, valued at approximately $258,000.

Several other institutional investors and hedge funds also recently modified their holdings of PLYA. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Playa Hotels & Resorts by 16.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,233 shares of the company’s stock worth $158,000 after purchasing an additional 2,634 shares during the period. Gladius Capital Management LP bought a new stake in shares of Playa Hotels & Resorts during the 2nd quarter worth about $61,000. Russell Investments Group Ltd. lifted its stake in shares of Playa Hotels & Resorts by 17.8% in the 4th quarter. Russell Investments Group Ltd. now owns 60,415 shares of the company’s stock worth $523,000 after acquiring an additional 9,139 shares during the period. Lazard Asset Management LLC bought a new position in shares of Playa Hotels & Resorts in the first quarter valued at approximately $95,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Playa Hotels & Resorts during the first quarter valued at approximately $98,000. Institutional investors own 74.58% of the company’s stock.

Insider Activity at Playa Hotels & Resorts

In other Playa Hotels & Resorts news, Director Karl Mr. Peterson sold 60,000 shares of Playa Hotels & Resorts stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $8.31, for a total transaction of $498,600.00. Following the transaction, the director now directly owns 2,469,033 shares in the company, valued at approximately $20,517,664.23. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 9.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PLYA has been the subject of a number of research analyst reports. Citigroup restated a “neutral” rating and issued a $8.00 target price (down from $12.00) on shares of Playa Hotels & Resorts in a research report on Tuesday, August 13th. Truist Financial decreased their target price on Playa Hotels & Resorts from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Oppenheimer lowered their target price on Playa Hotels & Resorts from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Macquarie restated an “outperform” rating and set a $14.00 price objective on shares of Playa Hotels & Resorts in a research report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Playa Hotels & Resorts from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.00.

Playa Hotels & Resorts Trading Up 0.8 %

Shares of NASDAQ PLYA opened at $7.70 on Tuesday. The company has a quick ratio of 2.13, a current ratio of 2.23 and a debt-to-equity ratio of 1.93. Playa Hotels & Resorts has a 12 month low of $6.88 and a 12 month high of $9.85. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 16.74, a P/E/G ratio of 0.79 and a beta of 1.60. The business has a fifty day simple moving average of $8.08 and a 200-day simple moving average of $8.69.

Playa Hotels & Resorts (NASDAQ:PLYA) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The company had revenue of $235.48 million during the quarter, compared to analyst estimates of $228.95 million. Playa Hotels & Resorts had a net margin of 5.85% and a return on equity of 11.79%. The business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.13 earnings per share. Sell-side analysts predict that Playa Hotels & Resorts will post 0.41 EPS for the current year.

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.