Quarry LP Acquires 5,087 Shares of Playa Hotels & Resorts (NASDAQ:PLYA)

Quarry LP boosted its holdings in Playa Hotels & Resorts (NASDAQ:PLYA) by 141.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,686 shares of the company’s stock after acquiring an additional 5,087 shares during the quarter. Quarry LP’s holdings in Playa Hotels & Resorts were worth $73,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Gladius Capital Management LP bought a new stake in shares of Playa Hotels & Resorts in the 2nd quarter valued at approximately $61,000. Canada Pension Plan Investment Board bought a new stake in Playa Hotels & Resorts in the second quarter valued at $88,000. Lazard Asset Management LLC acquired a new position in Playa Hotels & Resorts during the first quarter worth $95,000. Quadrature Capital Ltd bought a new position in shares of Playa Hotels & Resorts during the first quarter valued at $98,000. Finally, Marshall Wace LLP acquired a new stake in shares of Playa Hotels & Resorts in the 2nd quarter valued at $102,000. Institutional investors and hedge funds own 74.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Truist Financial dropped their target price on shares of Playa Hotels & Resorts from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. 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 cut their target price on shares of 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. Citigroup restated a “neutral” rating and set a $8.00 price target (down from $12.00) on shares of Playa Hotels & Resorts in a research report on Tuesday, August 13th. Finally, Macquarie reiterated an “outperform” rating and issued a $14.00 price objective on shares of Playa Hotels & Resorts in a research report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Playa Hotels & Resorts Price Performance

Shares of PLYA stock opened at $7.76 on Friday. Playa Hotels & Resorts has a 1 year low of $6.88 and a 1 year 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 firm’s 50 day moving average is $7.75 and its 200-day moving average is $8.43. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 16.87, a PEG 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, topping the consensus estimate of $0.10 by $0.02. The firm 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 revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.13 EPS. Sell-side analysts forecast that Playa Hotels & Resorts will post 0.41 EPS for the current fiscal year.

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.