Playa Hotels & Resorts (NASDAQ:PLYA) Cut to “Hold” at Macquarie

Playa Hotels & Resorts (NASDAQ:PLYA) was downgraded by Macquarie from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

PLYA has been the subject of several other reports. Oppenheimer cut shares of Playa Hotels & Resorts from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Truist Financial reissued a “hold” rating and set a $13.00 price target on shares of Playa Hotels & Resorts in a research report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft downgraded Playa Hotels & Resorts from a “buy” rating to a “hold” rating and cut their price objective for the stock from $15.00 to $13.50 in a report on Tuesday. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Playa Hotels & Resorts has an average rating of “Hold” and a consensus price target of $12.10.

Playa Hotels & Resorts Price Performance

PLYA opened at $13.28 on Monday. Playa Hotels & Resorts has a 1 year low of $6.95 and a 1 year high of $13.32. The company’s 50 day simple moving average is $11.92 and its 200 day simple moving average is $9.60. The stock has a market capitalization of $1.61 billion, a PE ratio of 27.67, a P/E/G ratio of 1.83 and a beta of 1.54. The company has a debt-to-equity ratio of 2.16, a quick ratio of 2.14 and a current ratio of 2.24.

Institutional Trading of Playa Hotels & Resorts

Several large investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC boosted its position in shares of Playa Hotels & Resorts by 86.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,372 shares of the company’s stock worth $119,000 after buying an additional 4,342 shares during the period. Avidian Wealth Enterprises LLC acquired a new position in Playa Hotels & Resorts during the 4th quarter worth approximately $126,000. Barclays PLC boosted its holdings in Playa Hotels & Resorts by 993.7% in the 3rd quarter. Barclays PLC now owns 21,240 shares of the company’s stock worth $165,000 after acquiring an additional 19,298 shares during the period. FMR LLC grew its position in Playa Hotels & Resorts by 59.5% in the third quarter. FMR LLC now owns 26,041 shares of the company’s stock valued at $202,000 after acquiring an additional 9,713 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Playa Hotels & Resorts during the fourth quarter valued at approximately $226,000. 74.58% of the stock is currently owned by institutional investors and hedge funds.

Playa Hotels & Resorts Company Profile

Playa Hotels & Resorts NV engages in the operation of hotels and resorts. The firm’s geographical segments include Yucatán Peninsula, Pacific Coast, Dominican Republic, and Jamaica. It owns all-inclusive oceanfront resorts in Cancun, Los Cabos, Montego Bay, Puerto Vallarta, Playa del Carmen, and Cap Cana.