Playa Hotels & Resorts (NASDAQ:PLYA) Sets New 12-Month High – Here’s Why

Shares of Playa Hotels & Resorts (NASDAQ:PLYA) hit a new 52-week high during trading on Tuesday . The company traded as high as $12.70 and last traded at $12.68, with a volume of 533949 shares trading hands. The stock had previously closed at $12.37.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PLYA. Truist Financial restated a “buy” rating and set a $13.00 price target on shares of Playa Hotels & Resorts in a report on Tuesday, December 24th. Oppenheimer lifted their target price on Playa Hotels & Resorts from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

Playa Hotels & Resorts Trading Up 2.3 %

The firm’s 50-day moving average price is $9.84 and its 200 day moving average price is $8.66. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 26.35, a P/E/G ratio of 1.52 and a beta of 1.64. The company has a current ratio of 2.24, a quick ratio of 2.14 and a debt-to-equity ratio of 2.16.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. SkyView Investment Advisors LLC increased its position in shares of Playa Hotels & Resorts by 3.0% during the third quarter. SkyView Investment Advisors LLC now owns 57,687 shares of the company’s stock worth $447,000 after acquiring an additional 1,664 shares in the last quarter. Barclays PLC boosted its stake in Playa Hotels & Resorts by 993.7% during the 3rd quarter. Barclays PLC now owns 21,240 shares of the company’s stock valued at $165,000 after purchasing an additional 19,298 shares during the last quarter. Y Intercept Hong Kong Ltd increased its holdings in Playa Hotels & Resorts by 85.7% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 54,594 shares of the company’s stock worth $423,000 after purchasing an additional 25,192 shares in the last quarter. Jane Street Group LLC raised its stake in shares of Playa Hotels & Resorts by 207.8% in the third quarter. Jane Street Group LLC now owns 83,703 shares of the company’s stock worth $649,000 after purchasing an additional 56,506 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC bought a new position in shares of Playa Hotels & Resorts in the third quarter valued at approximately $6,032,000. 74.58% of the stock is owned by institutional investors and hedge funds.

Playa Hotels & Resorts Company Profile

Playa Hotels & Resorts N.V., together with its subsidiaries, owns, develops, and operates resorts in prime beachfront locations in Mexico and the Caribbean. It owns and manages Hyatt Zilara Cancún, Hyatt Ziva Cancún, Wyndham Alltra Cancún, Wyndham Alltra Playa del Carmen, Hilton Playa del Carmen All-Inclusive Resort, Hyatt Ziva Puerto Vallarta, and Hyatt Ziva Los Cabos located in Mexico; Hyatt Zilara Rose Hall, Hyatt Ziva Rose Hall, Hilton Rose Hall Resort & Spa, Jewel Grande Montego Bay Resort & Spa, and Jewel Paradise Cove Beach Resort & Spa situated in Jamaica; the Hilton La Romana All-Inclusive Family Resort, the Hilton La Romana All-Inclusive Adult Resort, Hyatt Zilara Cap Cana, Hyatt Ziva Cap Cana, and Jewel Palm Beach located in the Dominican Republic; and manages resorts on behalf of third-party owners.