Charles Schwab Investment Management Inc. Cuts Stock Position in Playa Hotels & Resorts (NASDAQ:PLYA)

Charles Schwab Investment Management Inc. cut its holdings in Playa Hotels & Resorts (NASDAQ:PLYA) by 3.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 572,537 shares of the company’s stock after selling 18,357 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Playa Hotels & Resorts were worth $4,437,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PLYA. MQS Management LLC acquired a new position in Playa Hotels & Resorts during the third quarter worth $689,000. Cubist Systematic Strategies LLC raised its holdings in shares of Playa Hotels & Resorts by 486.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 264,625 shares of the company’s stock valued at $2,220,000 after buying an additional 219,501 shares during the period. Maverick Capital Ltd. raised its holdings in shares of Playa Hotels & Resorts by 335.0% in the 2nd quarter. Maverick Capital Ltd. now owns 166,536 shares of the company’s stock valued at $1,397,000 after buying an additional 128,256 shares during the period. Aristides Capital LLC raised its holdings in shares of Playa Hotels & Resorts by 6.0% in the 2nd quarter. Aristides Capital LLC now owns 30,943 shares of the company’s stock valued at $260,000 after buying an additional 1,739 shares during the period. Finally, Algert Global LLC purchased a new stake in Playa Hotels & Resorts during the 2nd quarter worth about $527,000. 74.58% of the stock is owned by institutional investors and hedge funds.

Playa Hotels & Resorts Trading Down 0.3 %

NASDAQ:PLYA opened at $10.12 on Friday. The firm has a market cap of $1.23 billion, a P/E ratio of 21.08, a PEG ratio of 1.53 and a beta of 1.64. 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 stock’s 50 day simple moving average is $9.22 and its 200-day simple moving average is $8.45. Playa Hotels & Resorts has a 12-month low of $6.95 and a 12-month high of $10.50.

Analyst Ratings Changes

Several brokerages have weighed in on PLYA. Truist Financial upped their price target on Playa Hotels & Resorts from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Oppenheimer lifted their price target on Playa Hotels & Resorts from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Playa Hotels & Resorts 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.