Playa Hotels & Resorts (NASDAQ:PLYA) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Playa Hotels & Resorts (NASDAQ:PLYA) from a hold rating to a sell rating in a research note published on Thursday, Zacks.com reports.

According to Zacks, “Playa Hotels & Resorts N.V. is an owner, operator and developer of resorts primarily in Mexico and the Caribbean. The company owns and manages Hyatt Zilara and Hyatt Ziva Cancun, Hyatt Zilara and Hyatt Ziva Rose Hall Jamaica, Hyatt Ziva Puerto Vallarta and Hyatt Ziva Los Cabos. Playa Hotels & Resorts N.V. is based in Faifax, United States. “

Other research analysts have also recently issued research reports about the company. Deutsche Bank reaffirmed a buy rating and set a $13.00 price target on shares of Playa Hotels & Resorts in a research report on Monday, July 29th. TheStreet raised Playa Hotels & Resorts from a d+ rating to a c- rating in a research report on Wednesday, May 15th. Finally, BidaskClub cut Playa Hotels & Resorts from a hold rating to a sell rating in a research report on Tuesday, July 16th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $11.15.

NASDAQ:PLYA traded down $0.05 during midday trading on Thursday, hitting $7.29. The stock had a trading volume of 2,114,907 shares, compared to its average volume of 445,166. Playa Hotels & Resorts has a one year low of $5.98 and a one year high of $10.83. The stock has a market capitalization of $954.03 million, a P/E ratio of 24.47 and a beta of 0.40. The company’s 50-day simple moving average is $7.47. The company has a quick ratio of 1.42, a current ratio of 1.33 and a debt-to-equity ratio of 1.14.

Playa Hotels & Resorts (NASDAQ:PLYA) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.03. Playa Hotels & Resorts had a return on equity of 4.47% and a net margin of 3.72%. The firm had revenue of $164.02 million for the quarter, compared to analyst estimates of $160.71 million. During the same period in the previous year, the firm earned $0.11 earnings per share. The company’s revenue was up 12.7% compared to the same quarter last year. As a group, research analysts predict that Playa Hotels & Resorts will post 0.16 EPS for the current year.

In other news, insider Brandon B. Buhler sold 4,911 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $8.12, for a total transaction of $39,877.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 3.67% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of PLYA. Long Pond Capital LP purchased a new stake in shares of Playa Hotels & Resorts in the 1st quarter valued at about $10,725,000. Dimensional Fund Advisors LP raised its holdings in shares of Playa Hotels & Resorts by 26.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,516,084 shares of the company’s stock valued at $10,900,000 after acquiring an additional 314,103 shares in the last quarter. Royce & Associates LP purchased a new stake in shares of Playa Hotels & Resorts in the 1st quarter valued at about $1,551,000. First Trust Advisors LP raised its holdings in shares of Playa Hotels & Resorts by 64.8% in the 1st quarter. First Trust Advisors LP now owns 165,294 shares of the company’s stock valued at $1,261,000 after acquiring an additional 64,972 shares in the last quarter. Finally, Two Sigma Investments LP bought a new position in shares of Playa Hotels & Resorts during the 4th quarter valued at about $463,000. 70.97% of the stock is currently owned by institutional investors and hedge funds.

Playa Hotels & Resorts Company Profile

Playa Hotels & Resorts N.V. owns, operates, and develops all-inclusive resorts in prime beachfront locations in various vacation destinations in Mexico and the Caribbean. The company operates under eight brand names. As of February 28, 2019, it owned a portfolio consisting of 21 resorts comprising 7,908 rooms located in Mexico, Jamaica, and the Dominican Republic.

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