Citigroup Reaffirms “Neutral” Rating for Playa Hotels & Resorts (NASDAQ:PLYA)

Citigroup reissued their neutral rating on shares of Playa Hotels & Resorts (NASDAQ:PLYA) in a research note released on Tuesday morning, MarketBeat reports. They currently have a $8.00 target price on the stock, down from their prior target price of $12.00.

Several other analysts have also weighed in on the stock. Truist Financial decreased their target price on shares of Playa Hotels & Resorts from $12.00 to $10.00 and set a buy rating on the stock in a research report on Thursday, August 8th. Macquarie reaffirmed an outperform rating and set a $14.00 price objective on shares of Playa Hotels & Resorts in a report on Wednesday, August 7th. Oppenheimer dropped their target price on Playa Hotels & Resorts from $12.00 to $10.00 and set an outperform rating for the company in a report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Playa Hotels & Resorts from $14.00 to $13.00 and set a buy rating for the company in a research report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $11.00.

Playa Hotels & Resorts Price Performance

Shares of PLYA stock opened at $7.37 on Tuesday. Playa Hotels & Resorts has a 12 month low of $6.88 and a 12 month high of $9.85. The company has a market capitalization of $981.54 million, a P/E ratio of 16.02, a P/E/G ratio of 0.82 and a beta of 1.60. The stock has a 50 day moving average of $8.20 and a two-hundred day moving average of $8.73. The company has a current ratio of 2.23, a quick ratio of 2.13 and a debt-to-equity ratio of 1.93.

Playa Hotels & Resorts (NASDAQ:PLYA) last issued its earnings results on Monday, August 5th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.10 by $0.02. The firm had revenue of $235.48 million during the quarter, compared to analysts’ expectations of $228.95 million. Playa Hotels & Resorts had a return on equity of 11.79% and a net margin of 5.85%. Playa Hotels & Resorts’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period last year, the business earned $0.13 earnings per share. As a group, equities analysts expect that Playa Hotels & Resorts will post 0.41 EPS for the current year.

Insider Transactions at Playa Hotels & Resorts

In other news, Director Karl Mr. Peterson sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $8.31, for a total value of $498,600.00. Following the transaction, the director now directly owns 2,469,033 shares of the company’s stock, valued at approximately $20,517,664.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 9.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Long Pond Capital LP raised its position in Playa Hotels & Resorts by 14.9% in the 2nd quarter. Long Pond Capital LP now owns 3,991,276 shares of the company’s stock worth $33,487,000 after purchasing an additional 518,316 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Playa Hotels & Resorts by 9.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,421,243 shares of the company’s stock valued at $46,894,000 after buying an additional 461,888 shares during the period. Halter Ferguson Financial Inc. bought a new stake in shares of Playa Hotels & Resorts during the fourth quarter worth $3,285,000. American Century Companies Inc. lifted its stake in shares of Playa Hotels & Resorts by 12.2% during the second quarter. American Century Companies Inc. now owns 2,425,296 shares of the company’s stock valued at $20,348,000 after acquiring an additional 264,275 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its holdings in Playa Hotels & Resorts by 486.4% in the second quarter. Cubist Systematic Strategies LLC now owns 264,625 shares of the company’s stock valued at $2,220,000 after acquiring an additional 219,501 shares during the last quarter. 74.58% of the stock is owned by institutional investors.

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.