Raymond James Financial Inc. Makes New $5.31 Million Investment in Playa Hotels & Resorts (NASDAQ:PLYA)

Raymond James Financial Inc. acquired a new stake in shares of Playa Hotels & Resorts (NASDAQ:PLYA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 419,622 shares of the company’s stock, valued at approximately $5,308,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC raised its holdings in Playa Hotels & Resorts by 59.5% in the 3rd quarter. FMR LLC now owns 26,041 shares of the company’s stock valued at $202,000 after acquiring an additional 9,713 shares during the last quarter. De Lisle Partners LLP lifted its position in Playa Hotels & Resorts by 14.9% during the third quarter. De Lisle Partners LLP now owns 229,150 shares of the company’s stock worth $1,777,000 after buying an additional 29,700 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Playa Hotels & Resorts by 13.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,339 shares of the company’s stock worth $227,000 after buying an additional 3,555 shares during the last quarter. PDT Partners LLC grew its holdings in Playa Hotels & Resorts by 3.1% in the 3rd quarter. PDT Partners LLC now owns 115,065 shares of the company’s stock valued at $892,000 after buying an additional 3,502 shares during the period. Finally, Maverick Capital Ltd. increased its stake in shares of Playa Hotels & Resorts by 24.5% during the 3rd quarter. Maverick Capital Ltd. now owns 207,357 shares of the company’s stock valued at $1,607,000 after acquiring an additional 40,821 shares during the last quarter. Hedge funds and other institutional investors own 74.58% of the company’s stock.

Analyst Ratings Changes

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

Playa Hotels & Resorts Stock Performance

Shares of Playa Hotels & Resorts stock opened at $13.34 on Wednesday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 2.14 and a current ratio of 2.24. The firm has a market cap of $1.64 billion, a PE ratio of 27.79, a price-to-earnings-growth ratio of 2.44 and a beta of 1.44. Playa Hotels & Resorts has a 1 year low of $6.95 and a 1 year high of $13.40. The firm’s 50-day simple moving average is $13.04 and its 200-day simple moving average is $10.76.

Playa Hotels & Resorts (NASDAQ:PLYA) last released its earnings results on Tuesday, February 25th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.04. Playa Hotels & Resorts had a net margin of 6.84% and a return on equity of 14.12%. The firm had revenue of $218.94 million during the quarter, compared to analyst estimates of $212.26 million. Equities analysts forecast that Playa Hotels & Resorts will post 0.56 earnings per share for the current fiscal year.

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.