MYDA Advisors LLC bought a new stake in Playa Hotels & Resorts (NASDAQ:PLYA) in the first quarter, HoldingsChannel reports. The fund bought 230,000 shares of the company’s stock, valued at approximately $1,679,000.
Other institutional investors have also added to or reduced their stakes in the company. Glassman Wealth Services bought a new position in Playa Hotels & Resorts in the first quarter valued at $60,000. Financial Counselors Inc. acquired a new stake in Playa Hotels & Resorts in the first quarter valued at $99,000. National Asset Management Inc. acquired a new stake in Playa Hotels & Resorts in the fourth quarter valued at $83,000. M&T Bank Corp lifted its stake in Playa Hotels & Resorts by 14.5% in the first quarter. M&T Bank Corp now owns 14,078 shares of the company’s stock valued at $103,000 after acquiring an additional 1,778 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Playa Hotels & Resorts by 361.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,599 shares of the company’s stock valued at $114,000 after acquiring an additional 12,218 shares during the last quarter. 77.76% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Playa Hotels & Resorts from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, May 7th. Bank of America assumed coverage on shares of Playa Hotels & Resorts in a research note on Tuesday, April 13th. They set a “buy” rating and a $10.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Playa Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Tuesday, May 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $7.25.
In other Playa Hotels & Resorts news, CMO Kevin Froemming sold 5,473 shares of the firm’s stock in a transaction dated Tuesday, May 18th. The shares were sold at an average price of $7.47, for a total value of $40,883.31. Following the transaction, the chief marketing officer now directly owns 397,482 shares of the company’s stock, valued at approximately $2,969,190.54. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard B. Fried sold 6,642,314 shares of the firm’s stock in a transaction dated Wednesday, May 19th. The shares were sold at an average price of $6.88, for a total transaction of $45,699,120.32. Following the completion of the transaction, the director now directly owns 40,918 shares in the company, valued at $281,515.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,695,343 shares of company stock worth $46,093,975. Insiders own 4.09% of the company’s stock.
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. As of March 10, 2021, it owned a portfolio of 20 resorts comprising 7,867 rooms located in Mexico, Jamaica, and the Dominican Republic. The company was founded in 2006 and is headquartered in Fairfax, Virginia.
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