Playa Hotels & Resorts (NASDAQ:PLYA) Sees Unusually-High Trading Volume – Here’s Why

Shares of Playa Hotels & Resorts (NASDAQ:PLYA) saw unusually-high trading volume on Monday . Approximately 2,661,243 shares traded hands during trading, an increase of 91% from the previous session’s volume of 1,394,743 shares.The stock last traded at $13.31 and had previously closed at $13.31.

Wall Street Analyst Weigh In

A number of research firms recently commented on PLYA. Truist Financial reiterated a “hold” rating and issued a $13.00 target price on shares of Playa Hotels & Resorts in a report on Tuesday, January 7th. Macquarie cut Playa Hotels & Resorts from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Deutsche Bank Aktiengesellschaft lowered Playa Hotels & Resorts from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $15.00 to $13.50 in a research note on Tuesday, February 11th. Finally, Oppenheimer cut Playa Hotels & Resorts from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 11th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $12.10.

Playa Hotels & Resorts Stock Performance

The firm’s 50 day simple moving average is $12.91 and its 200-day simple moving average is $10.49. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 27.72, a P/E/G ratio of 2.44 and a beta of 1.44. The company has a debt-to-equity ratio of 2.16, a quick ratio of 2.14 and a current ratio of 2.24.

Playa Hotels & Resorts (NASDAQ:PLYA) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.04. Playa Hotels & Resorts had a return on equity of 14.12% and a net margin of 6.84%. The firm had revenue of $218.94 million for the quarter, compared to analyst estimates of $212.26 million. Analysts expect that Playa Hotels & Resorts will post 0.56 EPS for the current year.

Institutional Investors Weigh In On Playa Hotels & Resorts

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLYA. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Playa Hotels & Resorts during the 4th quarter valued at about $3,566,000. Mackenzie Financial Corp lifted its stake in Playa Hotels & Resorts by 294.3% in the fourth quarter. Mackenzie Financial Corp now owns 42,522 shares of the company’s stock valued at $538,000 after acquiring an additional 31,737 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Playa Hotels & Resorts during the 4th quarter worth $3,364,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Playa Hotels & Resorts by 20.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 289,709 shares of the company’s stock valued at $3,665,000 after purchasing an additional 49,262 shares in the last quarter. Finally, Woodline Partners LP acquired a new stake in shares of Playa Hotels & Resorts in the 4th quarter valued at $5,507,000. Hedge funds and other institutional investors own 74.58% of the company’s stock.

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.