Playa Hotels & Resorts (NASDAQ:PLYA) Reaches New 12-Month High – Time to Buy?

Playa Hotels & Resorts (NASDAQ:PLYA) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $13.38 and last traded at $13.35, with a volume of 1978014 shares. The stock had previously closed at $13.37.

Wall Street Analyst Weigh In

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

Playa Hotels & Resorts Price Performance

The stock’s 50 day moving average is $12.24 and its two-hundred day moving average is $9.77. 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 market capitalization of $1.62 billion, a PE ratio of 27.79, a price-to-earnings-growth ratio of 2.44 and a beta of 1.54.

Institutional Trading of Playa Hotels & Resorts

Institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new position in Playa Hotels & Resorts in the 4th quarter valued at $3,364,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Playa Hotels & Resorts by 20.5% in the fourth 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 during the last quarter. Woodline Partners LP purchased a new position in Playa Hotels & Resorts during the fourth quarter worth approximately $5,507,000. Seven Six Capital Management LLC acquired a new position in Playa Hotels & Resorts during the fourth quarter worth $4,825,000. Finally, LMR Partners LLP purchased a new stake in Playa Hotels & Resorts in the 4th quarter valued at $3,136,000. 74.58% of the stock is owned by institutional investors and hedge funds.

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.