Playa Hotels & Resorts (NASDAQ:PLYA) Position Increased by King Luther Capital Management Corp

King Luther Capital Management Corp lifted its position in Playa Hotels & Resorts (NASDAQ:PLYA) by 1.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 429,200 shares of the company’s stock after buying an additional 5,154 shares during the quarter. King Luther Capital Management Corp’s holdings in Playa Hotels & Resorts were worth $3,326,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Long Pond Capital LP increased its holdings in shares of Playa Hotels & Resorts by 14.9% in the 2nd quarter. Long Pond Capital LP now owns 3,991,276 shares of the company’s stock valued at $33,487,000 after purchasing an additional 518,316 shares during the period. American Century Companies Inc. increased its stake in Playa Hotels & Resorts by 12.2% in the 2nd quarter. American Century Companies Inc. now owns 2,425,296 shares of the company’s stock valued at $20,348,000 after buying an additional 264,275 shares during the period. Cubist Systematic Strategies LLC lifted its position in Playa Hotels & Resorts by 486.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 264,625 shares of the company’s stock worth $2,220,000 after buying an additional 219,501 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Playa Hotels & Resorts during the 2nd quarter valued at $1,168,000. Finally, Maverick Capital Ltd. grew its holdings in shares of Playa Hotels & Resorts by 335.0% during the 2nd quarter. Maverick Capital Ltd. now owns 166,536 shares of the company’s stock valued at $1,397,000 after acquiring an additional 128,256 shares in the last quarter. Institutional investors and hedge funds own 74.58% of the company’s stock.

Playa Hotels & Resorts Stock Performance

Shares of NASDAQ PLYA opened at $9.72 on Friday. The business’s 50-day simple moving average is $8.54 and its 200-day simple moving average is $8.30. The company has a debt-to-equity ratio of 2.16, a quick ratio of 2.14 and a current ratio of 2.24. Playa Hotels & Resorts has a 52 week low of $6.95 and a 52 week high of $10.13. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 20.19, a P/E/G ratio of 1.64 and a beta of 1.60.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. 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. Oppenheimer lifted their price target on Playa Hotels & Resorts from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Macquarie restated an “outperform” rating and issued a $14.00 price objective on shares of Playa Hotels & Resorts in a report on Wednesday, August 7th. Truist Financial cut their price objective on shares of Playa Hotels & Resorts from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Citigroup reissued a “neutral” rating and issued a $8.00 target price (down from $12.00) on shares of Playa Hotels & Resorts in a research report on Tuesday, August 13th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.40.

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.