Playa Hotels & Resorts (PLYA) Sees Large Volume Increase

Shares of Playa Hotels & Resorts NV (NASDAQ:PLYA) saw an uptick in trading volume on Thursday . 1,120,831 shares traded hands during mid-day trading, an increase of 283% from the previous session’s volume of 292,270 shares.The stock last traded at $9.89 and had previously closed at $9.65.

A number of brokerages recently commented on PLYA. BidaskClub raised shares of Playa Hotels & Resorts from a “strong sell” rating to a “sell” rating in a report on Thursday, January 11th. Nomura reaffirmed a “buy” rating and issued a $16.00 price target on shares of Playa Hotels & Resorts in a report on Friday, January 19th. Zacks Investment Research raised shares of Playa Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Wednesday, December 13th. Finally, Northland Securities reaffirmed a “buy” rating and issued a $14.75 price target on shares of Playa Hotels & Resorts in a report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $13.89.

The company has a current ratio of 1.59, a quick ratio of 1.51 and a debt-to-equity ratio of 1.44.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC lifted its stake in Playa Hotels & Resorts by 1.9% in the third quarter. Janus Henderson Group PLC now owns 4,186,994 shares of the company’s stock worth $43,670,000 after purchasing an additional 79,431 shares during the last quarter. BlueSpruce Investments LP lifted its stake in Playa Hotels & Resorts by 0.4% in the fourth quarter. BlueSpruce Investments LP now owns 3,859,097 shares of the company’s stock worth $41,640,000 after purchasing an additional 14,399 shares during the last quarter. Jennison Associates LLC lifted its stake in Playa Hotels & Resorts by 1.0% in the fourth quarter. Jennison Associates LLC now owns 3,203,675 shares of the company’s stock worth $34,568,000 after purchasing an additional 30,872 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Playa Hotels & Resorts by 41.9% in the fourth quarter. Wells Fargo & Company MN now owns 2,686,100 shares of the company’s stock worth $28,983,000 after purchasing an additional 793,159 shares during the last quarter. Finally, Armistice Capital LLC lifted its stake in Playa Hotels & Resorts by 36.6% in the fourth quarter. Armistice Capital LLC now owns 2,224,000 shares of the company’s stock worth $23,997,000 after purchasing an additional 596,000 shares during the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.

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Playa Hotels & Resorts Company Profile

Playa Hotels & Resorts NV is based in the Netherlands and operates hotels and resorts. The Company owns, operates and develops all-inclusive resorts in beachfront locations in vacation destinations in Mexico and the Caribbean. It owns a portfolio consisting of more than 10 resorts located in Mexico, the Dominican Republic and Jamaica.

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