Playa Hotels & Resorts (NASDAQ:PLYA) Lowered to “Hold” Rating by Macquarie

Macquarie cut shares of Playa Hotels & Resorts (NASDAQ:PLYA) from a strong-buy rating to a hold rating in a research report released on Monday morning,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft cut shares of Playa Hotels & Resorts from a “buy” rating to a “hold” rating and cut their target price for the stock from $15.00 to $13.50 in a report on Tuesday. Truist Financial reissued a “hold” rating and issued a $13.00 price target on shares of Playa Hotels & Resorts in a report on Tuesday, January 7th. Finally, Oppenheimer lowered shares of Playa Hotels & Resorts from an “outperform” rating to a “market perform” rating in a report on Tuesday. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Playa Hotels & Resorts presently has an average rating of “Hold” and a consensus target price of $12.10.

Playa Hotels & Resorts Price Performance

PLYA opened at $13.28 on Monday. 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 stock’s 50 day simple moving average is $11.92 and its 200 day simple moving average is $9.60. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 27.67, a PEG ratio of 1.83 and a beta of 1.54. Playa Hotels & Resorts has a 1 year low of $6.95 and a 1 year high of $13.32.

Institutional Investors Weigh In On Playa Hotels & Resorts

Several institutional investors and hedge funds have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC increased its position in shares of Playa Hotels & Resorts by 86.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,372 shares of the company’s stock valued at $119,000 after buying an additional 4,342 shares during the period. Avidian Wealth Enterprises LLC purchased a new position in shares of Playa Hotels & Resorts during the 4th quarter worth approximately $126,000. Barclays PLC raised its position in shares of Playa Hotels & Resorts by 993.7% in the 3rd quarter. Barclays PLC now owns 21,240 shares of the company’s stock worth $165,000 after acquiring an additional 19,298 shares in the last quarter. FMR LLC raised its position in shares of Playa Hotels & Resorts by 59.5% in the 3rd quarter. FMR LLC now owns 26,041 shares of the company’s stock worth $202,000 after acquiring an additional 9,713 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Playa Hotels & Resorts in the 4th quarter valued at approximately $226,000. 74.58% of the stock is owned by hedge funds and other institutional investors.

Playa Hotels & Resorts Company Profile

Playa Hotels & Resorts NV engages in the operation of hotels and resorts. The firm’s geographical segments include Yucatán Peninsula, Pacific Coast, Dominican Republic, and Jamaica. It owns all-inclusive oceanfront resorts in Cancun, Los Cabos, Montego Bay, Puerto Vallarta, Playa del Carmen, and Cap Cana.