Playa Hotels & Resorts (PLYA) Upgraded to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Playa Hotels & Resorts (NASDAQ:PLYA) from a sell rating to a hold rating in a report published on Wednesday.
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. “
A number of other analysts have also issued reports on the stock. Northland Securities reissued a buy rating and issued a $14.75 price target on shares of Playa Hotels & Resorts in a research report on Friday, November 10th. Janney Montgomery Scott initiated coverage on shares of Playa Hotels & Resorts in a research report on Thursday, September 7th. They issued a buy rating and a $14.00 price target for the company. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $13.54.
Playa Hotels & Resorts (NASDAQ PLYA) traded down $0.08 during midday trading on Wednesday, hitting $10.63. 78,900 shares of the stock were exchanged, compared to its average volume of 293,855. The company has a quick ratio of 1.51, a current ratio of 1.59 and a debt-to-equity ratio of 1.44. Playa Hotels & Resorts has a 1-year low of $9.81 and a 1-year high of $12.27.
In related news, Director Daniel J. Hirsch purchased 30,000 shares of Playa Hotels & Resorts stock in a transaction dated Friday, November 10th. The stock was acquired at an average cost of $10.52 per share, with a total value of $315,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.74% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC bought a new position in Playa Hotels & Resorts during the third quarter valued at approximately $145,000. Bluefin Trading LLC bought a new position in Playa Hotels & Resorts during the second quarter valued at approximately $168,000. Stevens Capital Management LP bought a new position in Playa Hotels & Resorts during the third quarter valued at approximately $159,000. Cubist Systematic Strategies LLC raised its position in Playa Hotels & Resorts by 170.0% during the third quarter. Cubist Systematic Strategies LLC now owns 18,851 shares of the company’s stock valued at $197,000 after acquiring an additional 11,870 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Playa Hotels & Resorts during the third quarter valued at approximately $206,000. 77.43% of the stock is currently owned by hedge funds and other institutional investors.
About Playa Hotels & Resorts
Playa Hotels & Resorts NV is based in the Netherlands and operates hotels and resorts. The Company owns, operates and develops all-inclusive resorts in beachfront locations in vacation destinations in Mexico and the Caribbean. It owns a portfolio consisting of more than 10 resorts located in Mexico, the Dominican Republic and Jamaica.
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