The main shareholder of Playa Hotels & Resorts (NASDAQ:PLYA – Get Rating), Financial Co Ltd. Sagicor acquired 6,200 shares of the company in a transaction dated Wednesday, May 25. The shares were acquired at an average cost of $7.60 per share, with a total value of $47,120.00. Following the transaction, the insider now owns 10,751,451 shares of the company, valued at $81,711,027.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders who own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Shares of PLYA traded down $0.17 in Friday’s midday session, hitting $8.47. 1,607,248 shares of the company were traded, against an average volume of 1,421,649. The company has a 50-day moving average of $8.55 and a 200-day moving average of $8.15. Playa Hotels & Resorts has a 52-week minimum of $6.13 and a 52-week maximum of $9.81. The stock has a market capitalization of $1.40 billion, a price/earnings ratio of 66.47, a PEG ratio of 0.20 and a beta of 1.68. The company has a debt ratio of 1.67, a quick ratio of 2.32 and a current ratio of 2.70.
Playa Hotels & Resorts (NASDAQ:PLYA – Get Rating) last released quarterly earnings data on Thursday, May 5. The company reported EPS of $0.19 for the quarter, beating the consensus estimate of $0.11 by $0.08. Playa Hotels & Resorts achieved a net margin of 3.37% and a return on equity of 0.63%. The company posted revenue of $219.60 million in the quarter, versus a consensus estimate of $196.76 million. In the same quarter of the previous year, the company achieved EPS of ($0.31). The company’s revenue increased 182.6% year over year. Sell-side analysts expect Playa Hotels & Resorts to post 0.32 earnings per share for the current fiscal year.
PLYA has been the subject of a number of recent research reports. TheStreet upgraded shares of Playa Hotels & Resorts from a “d+” rating to a “c-” rating in a research report on Monday, February 28. Truist Financial moved shares of Playa Hotels & Resorts from a “hold” rating to a “buy” rating and raised its target price for the stock from $8.00 to $11.00 in a Monday report May 9. Zacks Investment Research moved shares of Playa Hotels & Resorts from a “hold” rating to a “buy” rating and set a target price of $9.75 for the company in a Thursday, May 12 report. Oppenheimer launched coverage on shares of Playa Hotels & Resorts in a Thursday, April 21 report. They issued an “outperform” rating and a target price of $13.00 for the company. Finally, Deutsche Bank Aktiengesellschaft raised its price target on shares of Playa Hotels & Resorts from $13.00 to $15.00 in a Monday, May 9 report. One investment analyst gave the stock a hold rating and four gave the company a buy rating. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $11.55.
Several institutional investors and hedge funds have recently increased or reduced their stake in PLYA. Assenagon Asset Management SA bought a new position in shares of Playa Hotels & Resorts during the 1st quarter with a value of approximately $31,722,000. Goldman Sachs Group Inc. increased its position in shares of Playa Hotels & Resorts by 128.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,490,994 shares of the company valued at $38,847,000 after purchasing an additional 2,521,623 shares last quarter. Deutsche Bank AG increased its position in shares of Playa Hotels & Resorts by 60.4% during the fourth quarter. Deutsche Bank AG now owns 4,236,215 shares of the company valued at $33,805,000 after buying an additional 1,594,891 shares last quarter. Axon Capital LP purchased a new stake in shares of Playa Hotels & Resorts during Q4, valued at approximately $12,612,000. Finally, Rubric Capital Management LP increased its position in shares of Playa Hotels & Resorts by 12.5% during the 3rd quarter. Rubric Capital Management LP now owns 10,419,643 shares of the company valued at $86,379,000 after purchasing an additional 1,160,074 shares last quarter. 80.54% of the shares are held by institutional investors and hedge funds.
About Playa Hotels & Resorts (Get a rating)
Playa Hotels & Resorts NV, together with its subsidiaries, owns, develops and operates resort hotels in prime beachfront locations throughout Mexico and the Caribbean. As of December 31, 2021, it had a portfolio of 22 resorts with 8,366 rooms located in Mexico, Jamaica and the Dominican Republic. The company was founded in 2006 and is based in Fairfax, Virginia.
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