Playa Hotels & Resorts (NASDAQ:PLYA) Sees Strong Trading Volume – Time to Buy?

Shares of Playa Hotels & Resorts (NASDAQ:PLYA) saw unusually-high trading volume on Tuesday . Approximately 3,315,155 shares traded hands during trading, a decline of 8% from the previous session’s volume of 3,602,248 shares.The stock last traded at $13.28 and had previously closed at $13.24.

Analyst Ratings Changes

PLYA has been the subject of several recent research reports. Oppenheimer lowered Playa Hotels & Resorts from an “outperform” rating to a “market perform” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft downgraded Playa Hotels & Resorts from a “buy” rating to a “hold” rating and decreased their target price for the stock from $15.00 to $13.50 in a research report on Tuesday. Finally, Truist Financial reiterated a “hold” rating and issued a $13.00 target price on shares of Playa Hotels & Resorts in a research report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Playa Hotels & Resorts has a consensus rating of “Hold” and an average target price of $12.10.

Playa Hotels & Resorts Stock Performance

The business has a fifty day simple moving average of $11.79 and a two-hundred day simple moving average of $9.54. The company has a debt-to-equity ratio of 2.16, a current ratio of 2.24 and a quick ratio of 2.14. The company has a market cap of $1.61 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 1.83 and a beta of 1.54.

Hedge Funds Weigh In On Playa Hotels & Resorts

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC increased its stake in shares of Playa Hotels & Resorts by 86.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 9,372 shares of the company’s stock valued at $119,000 after purchasing an additional 4,342 shares in the last quarter. Avidian Wealth Enterprises LLC purchased a new position in shares of Playa Hotels & Resorts in the 4th quarter valued at about $126,000. Marshall Wace LLP purchased a new position in shares of Playa Hotels & Resorts in the 2nd quarter valued at about $102,000. Barclays PLC increased its stake 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 purchasing an additional 19,298 shares in the last quarter. Finally, EMC Capital Management increased its stake in shares of Playa Hotels & Resorts by 193.5% in the 4th quarter. EMC Capital Management now owns 24,632 shares of the company’s stock valued at $312,000 after purchasing an additional 16,240 shares in the last quarter. Hedge funds and other institutional investors own 74.58% of the company’s stock.

About Playa Hotels & Resorts

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.