Playa Hotels & Resorts (NASDAQ:PLYA) Hits New 1-Year High on Earnings Beat

Playa Hotels & Resorts (NASDAQ:PLYA) reached a new 52-week high on Tuesday following a stronger than expected earnings report. The company traded as high as $9.85 and last traded at $9.50, with a volume of 116014 shares traded. The stock had previously closed at $9.43.

The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.06. Playa Hotels & Resorts had a return on equity of 10.67% and a net margin of 5.51%. The company had revenue of $300.64 million for the quarter, compared to analysts’ expectations of $273.77 million. During the same period in the previous year, the business posted $0.31 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year.

Analyst Upgrades and Downgrades

Separately, Truist Financial raised their price target on shares of Playa Hotels & Resorts from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th.

Insider Activity

In related news, CAO Brandon B. Buhler sold 35,915 shares of Playa Hotels & Resorts stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $9.04, for a total value of $324,671.60. Following the transaction, the chief accounting officer now directly owns 102,598 shares of the company’s stock, valued at $927,485.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CAO Brandon B. Buhler sold 35,915 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $9.04, for a total value of $324,671.60. Following the transaction, the chief accounting officer now owns 102,598 shares in the company, valued at approximately $927,485.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karl Mr. Peterson sold 5,000 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $9.45, for a total transaction of $47,250.00. Following the completion of the transaction, the director now owns 2,534,033 shares in the company, valued at approximately $23,946,611.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,915 shares of company stock valued at $604,222. Company insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Playa Hotels & Resorts

Hedge funds have recently added to or reduced their stakes in the business. HG Vora Capital Management LLC increased its stake in shares of Playa Hotels & Resorts by 13.6% in the 3rd quarter. HG Vora Capital Management LLC now owns 12,500,000 shares of the company’s stock valued at $90,500,000 after acquiring an additional 1,500,000 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new position in shares of Playa Hotels & Resorts during the 3rd quarter worth about $10,839,000. Goldman Sachs Group Inc. grew its stake in shares of Playa Hotels & Resorts by 9.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,421,243 shares of the company’s stock valued at $46,894,000 after buying an additional 461,888 shares during the period. Cooper Creek Partners Management LLC increased its position in Playa Hotels & Resorts by 25.3% in the 3rd quarter. Cooper Creek Partners Management LLC now owns 2,246,810 shares of the company’s stock valued at $16,267,000 after buying an additional 454,114 shares in the last quarter. Finally, Voss Capital LLC raised its stake in Playa Hotels & Resorts by 14.2% during the 4th quarter. Voss Capital LLC now owns 3,596,890 shares of the company’s stock worth $31,113,000 after buying an additional 446,890 shares during the period. 74.58% of the stock is currently owned by institutional investors.

Playa Hotels & Resorts Trading Down 3.5 %

The firm has a market cap of $1.24 billion, a P/E ratio of 26.24, a price-to-earnings-growth ratio of 6.89 and a beta of 1.54. The firm has a fifty day simple moving average of $9.37 and a 200-day simple moving average of $8.52. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.00 and a quick ratio of 1.91.

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.