Playa Hotels & Resorts (NASDAQ:PLYA) Given New $10.00 Price Target at Oppenheimer

Playa Hotels & Resorts (NASDAQ:PLYA) had its price objective lowered by Oppenheimer from $12.00 to $10.00 in a research report sent to investors on Thursday, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. Macquarie reiterated an outperform rating and issued a $14.00 target price on shares of Playa Hotels & Resorts in a research note on Wednesday. Truist Financial cut their price target on shares of Playa Hotels & Resorts from $12.00 to $10.00 and set a buy rating for the company in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Playa Hotels & Resorts from $16.00 to $14.00 and set a buy rating for the company in a research note on Thursday, May 9th.

Playa Hotels & Resorts Stock Performance

Shares of NASDAQ PLYA traded up $0.10 during mid-day trading on Thursday, hitting $7.47. The company had a trading volume of 985,198 shares, compared to its average volume of 634,905. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.26 and a quick ratio of 2.16. The business’s 50-day simple moving average is $8.30 and its 200-day simple moving average is $8.75. Playa Hotels & Resorts has a 12 month low of $6.88 and a 12 month high of $9.85. The firm has a market cap of $994.86 million, a P/E ratio of 16.24, a PEG ratio of 0.65 and a beta of 1.60.

Playa Hotels & Resorts (NASDAQ:PLYA) last released its earnings results on Monday, August 5th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.02. Playa Hotels & Resorts had a net margin of 6.52% and a return on equity of 12.08%. The business had revenue of $235.48 million during the quarter, compared to analysts’ expectations of $228.95 million. During the same quarter last year, the company earned $0.13 earnings per share. The firm’s revenue was down 5.1% on a year-over-year basis. As a group, analysts predict that Playa Hotels & Resorts will post 0.56 earnings per share for the current fiscal year.

Insider Transactions at Playa Hotels & Resorts

In other news, Director Karl Mr. Peterson sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $8.31, for a total transaction of $498,600.00. Following the completion of the sale, the director now owns 2,469,033 shares of the company’s stock, valued at $20,517,664.23. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 9.70% of the company’s stock.

Institutional Trading of Playa Hotels & Resorts

Hedge funds have recently modified their holdings of the company. Raymond James & Associates increased its holdings in shares of Playa Hotels & Resorts by 2.3% in the fourth quarter. Raymond James & Associates now owns 65,821 shares of the company’s stock valued at $569,000 after purchasing an additional 1,500 shares in the last quarter. HBK Sorce Advisory LLC increased its holdings in shares of Playa Hotels & Resorts by 6.2% in the fourth quarter. HBK Sorce Advisory LLC now owns 23,548 shares of the company’s stock valued at $204,000 after purchasing an additional 1,369 shares in the last quarter. Voss Capital LLC increased its holdings in shares of Playa Hotels & Resorts by 14.2% in the fourth quarter. Voss Capital LLC now owns 3,596,890 shares of the company’s stock valued at $31,113,000 after purchasing an additional 446,890 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Playa Hotels & Resorts by 16.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,233 shares of the company’s stock valued at $158,000 after purchasing an additional 2,634 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Playa Hotels & Resorts by 17.8% in the fourth quarter. Russell Investments Group Ltd. now owns 60,415 shares of the company’s stock valued at $523,000 after purchasing an additional 9,139 shares in the last quarter. 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.