Acadian Asset Management LLC Buys New Stake in Playa Hotels & Resorts (NASDAQ:PLYA)

Acadian Asset Management LLC purchased a new position in shares of Playa Hotels & Resorts (NASDAQ:PLYA) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 59,031 shares of the company’s stock, valued at approximately $495,000.

A number of other institutional investors have also modified their holdings of the stock. Russell Investments Group Ltd. grew its holdings in Playa Hotels & Resorts by 17.8% during the fourth 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. Dimensional Fund Advisors LP grew its stake in shares of Playa Hotels & Resorts by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,482,718 shares of the company’s stock worth $64,727,000 after purchasing an additional 82,630 shares during the period. Halter Ferguson Financial Inc. purchased a new position in shares of Playa Hotels & Resorts during the 4th quarter valued at approximately $3,285,000. Goldman Sachs Group Inc. lifted its stake in shares of Playa Hotels & Resorts by 9.3% in 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 period. Finally, Counterpoint Mutual Funds LLC acquired a new position in shares of Playa Hotels & Resorts in the 1st quarter valued at $134,000. Hedge funds and other institutional investors own 74.58% of the company’s stock.

Playa Hotels & Resorts Trading Up 0.1 %

Shares of Playa Hotels & Resorts stock opened at $7.75 on Thursday. The company has a current ratio of 2.23, a quick ratio of 2.13 and a debt-to-equity ratio of 1.93. Playa Hotels & Resorts has a twelve month low of $6.88 and a twelve month high of $9.85. The firm has a market capitalization of $1.03 billion, a PE ratio of 16.85, a P/E/G ratio of 0.82 and a beta of 1.62. The firm’s 50-day moving average price is $7.90 and its 200 day moving average price is $8.55.

Playa Hotels & Resorts (NASDAQ:PLYA) last released its earnings results on Monday, August 5th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.02. The business had revenue of $235.48 million for the quarter, compared to the consensus estimate of $228.95 million. Playa Hotels & Resorts had a return on equity of 11.79% and a net margin of 5.85%. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 earnings per share. On average, sell-side analysts predict that Playa Hotels & Resorts will post 0.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on PLYA. Citigroup restated a “neutral” rating and set a $8.00 price target (down previously from $12.00) on shares of Playa Hotels & Resorts in a research report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft dropped their target price on Playa Hotels & Resorts from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Macquarie reaffirmed an “outperform” rating and issued a $14.00 price target on shares of Playa Hotels & Resorts in a report on Wednesday, August 7th. 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 report on Thursday, August 8th. Finally, Oppenheimer reduced their target price on Playa Hotels & Resorts from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.00.

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.