Long Pond Capital LP Acquires 518,316 Shares of Playa Hotels & Resorts (NASDAQ:PLYA)

Long Pond Capital LP grew its stake in shares of Playa Hotels & Resorts (NASDAQ:PLYA) by 14.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,991,276 shares of the company’s stock after buying an additional 518,316 shares during the period. Playa Hotels & Resorts accounts for about 1.8% of Long Pond Capital LP’s investment portfolio, making the stock its 18th largest position. Long Pond Capital LP’s holdings in Playa Hotels & Resorts were worth $33,487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of PLYA. Maverick Capital Ltd. boosted its stake in Playa Hotels & Resorts by 335.0% during the second 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 last quarter. AQR Capital Management LLC boosted its position in shares of Playa Hotels & Resorts by 1.4% during the 2nd quarter. AQR Capital Management LLC now owns 144,146 shares of the company’s stock valued at $1,209,000 after acquiring an additional 2,006 shares during the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of Playa Hotels & Resorts by 486.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 264,625 shares of the company’s stock valued at $2,220,000 after acquiring an additional 219,501 shares during the last quarter. Marshall Wace LLP bought a new stake in Playa Hotels & Resorts in the second quarter worth $102,000. Finally, King Luther Capital Management Corp lifted its position in Playa Hotels & Resorts by 5.9% during the second quarter. King Luther Capital Management Corp now owns 424,046 shares of the company’s stock valued at $3,558,000 after purchasing an additional 23,719 shares during the last quarter. Hedge funds and other institutional investors own 74.58% of the company’s stock.

Analysts Set New Price Targets

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

Playa Hotels & Resorts Stock Up 1.0 %

NASDAQ:PLYA opened at $7.84 on Friday. The company’s 50 day moving average is $7.81 and its two-hundred day moving average is $8.49. Playa Hotels & Resorts has a twelve month low of $6.88 and a twelve month high of $9.85. The company has a current ratio of 2.23, a quick ratio of 2.13 and a debt-to-equity ratio of 1.93. The company has a market cap of $1.04 billion, a PE ratio of 17.04, a P/E/G ratio of 0.84 and a beta of 1.62.

Playa Hotels & Resorts (NASDAQ:PLYA) last posted 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 firm had revenue of $235.48 million for the quarter, compared to analysts’ expectations of $228.95 million. Playa Hotels & Resorts had a return on equity of 11.79% and a net margin of 5.85%. The company’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period last year, the firm earned $0.13 EPS. Analysts anticipate 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.