Playa Hotels & Resorts (NASDAQ:PLYA) Sees Large Growth in Short Interest

Playa Hotels & Resorts (NASDAQ:PLYA) was the recipient of a large growth in short interest in December. As of December 15th, there was short interest totalling 5,590,000 shares, a growth of 26.8% from the November 30th total of 4,410,000 shares. Based on an average daily volume of 1,130,000 shares, the short-interest ratio is currently 4.9 days. Approximately 6.6% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

PLYA has been the topic of a number of recent analyst reports. Truist Financial reissued a “buy” rating and issued a $13.00 price objective on shares of Playa Hotels & Resorts in a research note on Tuesday, December 24th. Oppenheimer increased their price objective on shares of Playa Hotels & Resorts from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $12.00.

Playa Hotels & Resorts Trading Up 2.3 %

Shares of NASDAQ PLYA traded up $0.28 during midday trading on Tuesday, hitting $12.65. The stock had a trading volume of 1,124,693 shares, compared to its average volume of 802,062. The firm has a market cap of $1.54 billion, a P/E ratio of 26.35, a price-to-earnings-growth ratio of 1.52 and a beta of 1.64. Playa Hotels & Resorts has a fifty-two week low of $6.95 and a fifty-two week high of $12.72. The company has a debt-to-equity ratio of 2.16, a current ratio of 2.24 and a quick ratio of 2.14. The company’s 50-day simple moving average is $9.84 and its 200 day simple moving average is $8.66.

Institutional Trading of Playa Hotels & Resorts

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP lifted its position in Playa Hotels & Resorts by 141.3% during the 2nd quarter. Quarry LP now owns 8,686 shares of the company’s stock valued at $73,000 after purchasing an additional 5,087 shares during the period. Canada Pension Plan Investment Board bought a new position in Playa Hotels & Resorts in the second quarter valued at approximately $88,000. Marshall Wace LLP acquired a new stake in Playa Hotels & Resorts during the 2nd quarter worth $102,000. AdvisorShares Investments LLC bought a new stake in shares of Playa Hotels & Resorts during the 2nd quarter valued at $105,000. Finally, Barclays PLC raised its position in shares of Playa Hotels & Resorts by 993.7% during the 3rd quarter. Barclays PLC now owns 21,240 shares of the company’s stock valued at $165,000 after acquiring an additional 19,298 shares during the last quarter. 74.58% of the stock is currently owned by institutional investors and hedge funds.

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. 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.