Envestnet Asset Management Inc. Reduces Stock Position in Playa Hotels & Resorts (NASDAQ:PLYA)

Envestnet Asset Management Inc. lowered its position in shares of Playa Hotels & Resorts (NASDAQ:PLYA) by 2.3% during the fourth quarter, Holdings Channel reports. The firm owned 151,823 shares of the company’s stock after selling 3,647 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Playa Hotels & Resorts were worth $1,921,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Jane Street Group LLC increased its position in Playa Hotels & Resorts by 207.8% during the third quarter. Jane Street Group LLC now owns 83,703 shares of the company’s stock worth $649,000 after buying an additional 56,506 shares during the period. Nkcfo LLC purchased a new stake in Playa Hotels & Resorts in the fourth quarter valued at approximately $696,000. Raymond James Financial Inc. purchased a new stake in Playa Hotels & Resorts in the fourth quarter valued at approximately $5,308,000. Bank of New York Mellon Corp lifted its stake in Playa Hotels & Resorts by 313.6% in the fourth quarter. Bank of New York Mellon Corp now owns 81,021 shares of the company’s stock valued at $1,025,000 after buying an additional 61,431 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Playa Hotels & Resorts by 18.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,434,496 shares of the company’s stock valued at $30,796,000 after buying an additional 387,270 shares during the last quarter. 74.58% of the stock is owned by hedge funds and other institutional investors.

Playa Hotels & Resorts Trading Down 0.1 %

NASDAQ:PLYA opened at $13.43 on Monday. The stock has a fifty day moving average price of $13.34 and a two-hundred day moving average price of $11.71. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 2.44 and a beta of 0.91. 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 1 year low of $6.95 and a 1 year high of $13.44.

Playa Hotels & Resorts (NASDAQ:PLYA) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.04. The firm had revenue of $218.94 million during the quarter, compared to analysts’ expectations of $212.26 million. Playa Hotels & Resorts had a return on equity of 14.12% and a net margin of 6.84%. As a group, sell-side analysts anticipate that Playa Hotels & Resorts will post 0.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PLYA shares. Macquarie cut Playa Hotels & Resorts from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Oppenheimer cut Playa Hotels & Resorts from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 11th. Truist Financial restated a “hold” rating and set a $13.00 price target on shares of Playa Hotels & Resorts in a research note on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft cut Playa Hotels & Resorts from a “buy” rating to a “hold” rating and cut their price target for the stock from $15.00 to $13.50 in a research note on Tuesday, February 11th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Playa Hotels & Resorts presently has an average rating of “Hold” and an average price target of $12.10.

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.