Playa Hotels & Resorts (NASDAQ:PLYA) Reaches New 1-Year High – Here’s What Happened

Shares of Playa Hotels & Resorts (NASDAQ:PLYA) hit a new 52-week high on Monday . The company traded as high as $11.84 and last traded at $11.84, with a volume of 46173 shares. The stock had previously closed at $9.61.

Wall Street Analysts Forecast Growth

PLYA has been the subject of several research analyst reports. Oppenheimer raised their target price on Playa Hotels & Resorts from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Truist Financial reiterated a “buy” rating and issued a $13.00 price target on shares of Playa Hotels & Resorts in a report on Tuesday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Playa Hotels & Resorts Stock Performance

The firm has a fifty day moving average of $9.56 and a 200-day moving average of $8.55. The company has a quick ratio of 2.14, a current ratio of 2.24 and a debt-to-equity ratio of 2.16. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 25.52, a PEG ratio of 1.52 and a beta of 1.64.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC purchased a new position in Playa Hotels & Resorts during the 3rd quarter valued at about $6,032,000. Long Pond Capital LP grew its position in shares of Playa Hotels & Resorts by 14.9% in the second quarter. Long Pond Capital LP now owns 3,991,276 shares of the company’s stock valued at $33,487,000 after purchasing an additional 518,316 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Playa Hotels & Resorts by 12.2% during the 2nd quarter. American Century Companies Inc. now owns 2,425,296 shares of the company’s stock worth $20,348,000 after purchasing an additional 264,275 shares in the last quarter. Cubist Systematic Strategies LLC raised 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 worth $2,220,000 after purchasing an additional 219,501 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Playa Hotels & Resorts in the 2nd quarter valued at approximately $1,168,000. Institutional investors and hedge funds own 74.58% of the company’s stock.

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.