Playa Hotels & Resorts (NASDAQ:PLYA) Shares Gap Down – Here’s Why

Playa Hotels & Resorts (NASDAQ:PLYA) shares gapped down before the market opened on Tuesday . The stock had previously closed at $9.90, but opened at $9.41. Playa Hotels & Resorts shares last traded at $9.41, with a volume of 121 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PLYA shares. Citigroup reaffirmed a “neutral” rating and issued a $8.00 price objective (down previously from $12.00) on shares of Playa Hotels & Resorts in a report on Tuesday, August 13th. Macquarie reiterated an “outperform” rating and set a $14.00 price objective on shares of Playa Hotels & Resorts in a research note on Wednesday, August 7th. Truist Financial cut their target price on Playa Hotels & Resorts from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Oppenheimer lifted their price target on Playa Hotels & Resorts from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Playa Hotels & Resorts from $14.00 to $13.00 and set a “buy” rating for the company in a report on Thursday, August 8th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Playa Hotels & Resorts currently has a consensus rating of “Moderate Buy” and an average target price of $11.40.

Playa Hotels & Resorts Price Performance

The company has a market cap of $1.18 billion, a price-to-earnings ratio of 20.35, a P/E/G ratio of 1.71 and a beta of 1.60. The company has a current ratio of 2.24, a quick ratio of 2.14 and a debt-to-equity ratio of 2.16. The business has a 50-day moving average price of $8.66 and a 200 day moving average price of $8.31.

Hedge Funds Weigh In On Playa Hotels & Resorts

A number of hedge funds and other institutional investors have recently modified their holdings of PLYA. SkyView Investment Advisors LLC raised its holdings in Playa Hotels & Resorts by 3.0% during the 3rd quarter. SkyView Investment Advisors LLC now owns 57,687 shares of the company’s stock worth $447,000 after buying an additional 1,664 shares during the period. Barclays PLC lifted its position in shares of Playa Hotels & Resorts by 993.7% in the 3rd quarter. Barclays PLC now owns 21,240 shares of the company’s stock valued at $165,000 after acquiring an additional 19,298 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its stake in Playa Hotels & Resorts by 85.7% in 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 during the period. Jane Street Group LLC grew its position in Playa Hotels & Resorts by 207.8% during the 3rd 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 in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC acquired a new stake in Playa Hotels & Resorts during the 3rd quarter valued at $6,032,000. Institutional investors and hedge funds own 74.58% of the company’s stock.

About Playa Hotels & Resorts

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.