Maverick Capital Ltd. Raises Stake in Playa Hotels & Resorts (NASDAQ:PLYA)

Maverick Capital Ltd. grew its position in Playa Hotels & Resorts (NASDAQ:PLYA) by 335.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 166,536 shares of the company’s stock after purchasing an additional 128,256 shares during the quarter. Maverick Capital Ltd.’s holdings in Playa Hotels & Resorts were worth $1,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLYA. Gladius Capital Management LP bought a new position in Playa Hotels & Resorts in the 2nd quarter worth $61,000. Lazard Asset Management LLC purchased a new position in shares of Playa Hotels & Resorts in the first quarter valued at about $95,000. Quadrature Capital Ltd bought a new position in shares of Playa Hotels & Resorts in the first quarter worth about $98,000. Canada Pension Plan Investment Board purchased a new stake in shares of Playa Hotels & Resorts during the second quarter worth about $88,000. Finally, Marshall Wace LLP bought a new stake in Playa Hotels & Resorts during the 2nd quarter valued at approximately $102,000. 74.58% of the stock is owned by hedge funds and other institutional investors.

Playa Hotels & Resorts Stock Down 0.5 %

Shares of NASDAQ PLYA opened at $7.80 on Friday. 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 12-month low of $6.88 and a 12-month high of $9.85. The firm’s 50-day moving average price is $7.79 and its 200-day moving average price is $8.48. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 16.96, a P/E/G ratio of 0.84 and a beta of 1.62.

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

Analyst Ratings Changes

Several research firms have weighed in on PLYA. Macquarie restated an “outperform” rating and issued a $14.00 price target on shares of Playa Hotels & Resorts in a research note on Wednesday, August 7th. Citigroup restated a “neutral” rating and set a $8.00 target price (down previously from $12.00) on shares of Playa Hotels & Resorts in a research report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft dropped their price objective 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. Oppenheimer decreased their target price on Playa Hotels & Resorts from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Truist Financial cut their price target on Playa Hotels & Resorts from $12.00 to $10.00 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 assigned a buy rating to the stock. According to MarketBeat.com, Playa Hotels & Resorts has a consensus rating of “Moderate Buy” and an average target price of $11.00.

About Playa Hotels & Resorts

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.