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

Playa Hotels & Resorts (NASDAQ:PLYA) was the target of a significant decrease in short interest in January. As of January 31st, there was short interest totalling 3,070,000 shares, a decrease of 27.8% from the January 15th total of 4,250,000 shares. Approximately 3.6% of the company’s stock are short sold. Based on an average trading volume of 2,380,000 shares, the short-interest ratio is currently 1.3 days.

Institutional Trading of Playa Hotels & Resorts

Large investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its position in shares of Playa Hotels & Resorts by 5,003.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,266 shares of the company’s stock valued at $41,000 after purchasing an additional 3,202 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of Playa Hotels & Resorts by 86.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,372 shares of the company’s stock valued at $119,000 after purchasing an additional 4,342 shares in the last quarter. Avidian Wealth Enterprises LLC purchased a new position in shares of Playa Hotels & Resorts in the fourth quarter valued at $126,000. Barclays PLC grew its position in shares of Playa Hotels & Resorts by 993.7% in the third quarter. Barclays PLC now owns 21,240 shares of the company’s stock valued at $165,000 after purchasing an additional 19,298 shares in the last quarter. Finally, FMR LLC grew its position in shares of Playa Hotels & Resorts by 59.5% in the third quarter. FMR LLC now owns 26,041 shares of the company’s stock valued at $202,000 after purchasing an additional 9,713 shares in the last quarter. 74.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PLYA has been the topic of a number of recent research reports. Macquarie lowered 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 dropped their price target for the stock from $15.00 to $13.50 in a report on Tuesday, February 11th. Truist Financial reiterated a “hold” rating and set a $13.00 price target on shares of Playa Hotels & Resorts in a report on Tuesday, January 7th. Finally, Oppenheimer lowered 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, Based on data from MarketBeat.com, Playa Hotels & Resorts has a consensus rating of “Hold” and an average price target of $12.10.

Playa Hotels & Resorts Stock Performance

NASDAQ:PLYA traded down $0.02 during trading hours on Friday, reaching $13.35. The stock had a trading volume of 1,978,014 shares, compared to its average volume of 1,161,128. The company has a debt-to-equity ratio of 2.16, a quick ratio of 2.14 and a current ratio of 2.24. The stock has a 50 day simple moving average of $12.05 and a 200 day simple moving average of $9.67. Playa Hotels & Resorts has a 12-month low of $6.95 and a 12-month high of $13.38. The stock has a market cap of $1.62 billion, a P/E ratio of 27.81, a price-to-earnings-growth ratio of 1.83 and a beta of 1.54.

About Playa Hotels & Resorts

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.