Playa Hotels & Resorts (NASDAQ:PLYA) Shares Gap Down – Here’s What Happened

Playa Hotels & Resorts (NASDAQ:PLYA)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $9.90, but opened at $9.41. Playa Hotels & Resorts shares last traded at $9.41, with a volume of 121 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PLYA. Citigroup reissued a “neutral” rating and issued a $8.00 price target (down from $12.00) on shares of Playa Hotels & Resorts in a research report on Tuesday, August 13th. Truist Financial cut their target price on shares of Playa Hotels & Resorts from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Macquarie restated an “outperform” rating and set a $14.00 price target on shares of Playa Hotels & Resorts in a report on Wednesday, August 7th. Oppenheimer upped their price target on shares of Playa Hotels & Resorts from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Playa Hotels & Resorts from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.40.

Playa Hotels & Resorts Stock Down 0.8 %

The company has a current ratio of 2.24, a quick ratio of 2.14 and a debt-to-equity ratio of 2.16. The business’s fifty day moving average price is $8.66 and its two-hundred day moving average price is $8.31. The firm has a market cap of $1.18 billion, a P/E ratio of 20.35, a P/E/G ratio of 1.71 and a beta of 1.60.

Institutional Trading of Playa Hotels & Resorts

A number of institutional investors and hedge funds have recently made changes to their positions in PLYA. Dimensional Fund Advisors LP raised its stake in shares of Playa Hotels & Resorts by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,673,429 shares of the company’s stock valued at $64,379,000 after acquiring an additional 63,595 shares in the last quarter. Long Pond Capital LP raised 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 period. American Century Companies Inc. lifted its stake in shares of Playa Hotels & Resorts by 12.2% in the second quarter. American Century Companies Inc. now owns 2,425,296 shares of the company’s stock worth $20,348,000 after buying an additional 264,275 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Playa Hotels & Resorts during the 3rd quarter worth $6,032,000. Finally, King Luther Capital Management Corp grew its stake in Playa Hotels & Resorts by 1.2% in the 3rd quarter. King Luther Capital Management Corp now owns 429,200 shares of the company’s stock valued at $3,326,000 after buying an additional 5,154 shares during 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.