Macquarie Downgrades Playa Hotels & Resorts (NASDAQ:PLYA) to Hold

Playa Hotels & Resorts (NASDAQ:PLYA) was downgraded by investment analysts at Macquarie from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other brokerages have also recently weighed in on PLYA. Oppenheimer cut Playa Hotels & Resorts from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft downgraded shares of Playa Hotels & Resorts from a “buy” rating to a “hold” rating and dropped their target price for the company from $15.00 to $13.50 in a report on Tuesday. Finally, Truist Financial reaffirmed a “hold” rating and issued a $13.00 price target on shares of Playa Hotels & Resorts in a report on Tuesday, January 7th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Playa Hotels & Resorts currently has an average rating of “Hold” and an average target price of $12.10.

Playa Hotels & Resorts Stock Performance

NASDAQ PLYA opened at $13.28 on Monday. The business has a 50 day moving average price of $11.92 and a 200 day moving average price of $9.60. The company has a market capitalization of $1.61 billion, a P/E ratio of 27.67, a PEG ratio of 1.83 and a beta of 1.54. Playa Hotels & Resorts has a 1-year low of $6.95 and a 1-year high of $13.32. The company has a debt-to-equity ratio of 2.16, a current ratio of 2.24 and a quick ratio of 2.14.

Institutional Trading of Playa Hotels & Resorts

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Inspire Investing LLC acquired a new stake in shares of Playa Hotels & Resorts during the 3rd quarter worth about $414,000. MQS Management LLC purchased a new position in shares of Playa Hotels & Resorts during the third quarter valued at approximately $689,000. Oppenheimer & Co. Inc. boosted its position in Playa Hotels & Resorts by 69.8% during the third quarter. Oppenheimer & Co. Inc. now owns 52,443 shares of the company’s stock worth $406,000 after acquiring an additional 21,562 shares during the last quarter. King Luther Capital Management Corp grew its stake in Playa Hotels & Resorts by 1.2% in the 3rd quarter. King Luther Capital Management Corp now owns 429,200 shares of the company’s stock worth $3,326,000 after acquiring an additional 5,154 shares during the period. Finally, FMR LLC raised its holdings in Playa Hotels & Resorts by 59.5% in the 3rd quarter. FMR LLC now owns 26,041 shares of the company’s stock valued at $202,000 after acquiring an additional 9,713 shares during the last quarter. Hedge funds and other institutional investors own 74.58% of the company’s stock.

Playa Hotels & Resorts Company Profile

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.