Playa Hotels & Resorts (NASDAQ:PLYA) Stock Rating Lowered by Zacks Investment Research

Playa Hotels & Resorts (NASDAQ:PLYA) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Friday, Zacks.com reports.

According to Zacks, “Playa Hotels & Resorts N.V. is an owner, operator and developer of resorts primarily in Mexico and the Caribbean. The company owns and manages Hyatt Zilara and Hyatt Ziva Cancun, Hyatt Zilara and Hyatt Ziva Rose Hall Jamaica, Hyatt Ziva Puerto Vallarta and Hyatt Ziva Los Cabos. Playa Hotels & Resorts N.V. is based in Faifax, United States. “

PLYA has been the topic of several other reports. Citigroup raised their target price on shares of Playa Hotels & Resorts from $1.00 to $3.00 and gave the stock a “sell” rating in a report on Thursday, July 2nd. They noted that the move was a valuation call. ValuEngine raised shares of Playa Hotels & Resorts from a “hold” rating to a “buy” rating in a report on Thursday, April 30th. BidaskClub raised shares of Playa Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Thursday, May 21st. SunTrust Banks cut shares of Playa Hotels & Resorts from a “buy” rating to a “hold” rating and lowered their target price for the stock from $10.00 to $2.00 in a report on Wednesday, April 29th. Finally, Deutsche Bank assumed coverage on shares of Playa Hotels & Resorts in a research report on Wednesday, May 13th. They set a “buy” rating and a $8.00 price target on the stock. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $5.10.

Playa Hotels & Resorts stock traded down $0.12 during trading hours on Friday, hitting $3.63. The company had a trading volume of 360,722 shares, compared to its average volume of 547,426. Playa Hotels & Resorts has a one year low of $1.30 and a one year high of $8.59. The firm has a 50-day moving average of $3.61 and a 200 day moving average of $4.01. The firm has a market cap of $488.18 million, a PE ratio of -6.85 and a beta of 2.17. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.08 and a quick ratio of 0.98.

Playa Hotels & Resorts (NASDAQ:PLYA) last announced its earnings results on Monday, May 11th. The company reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. Playa Hotels & Resorts had a negative net margin of 11.31% and a negative return on equity of 4.60%. The company had revenue of $177.23 million for the quarter, compared to analysts’ expectations of $171.22 million. During the same period last year, the firm earned $0.36 earnings per share. The business’s revenue for the quarter was down 9.5% on a year-over-year basis. As a group, research analysts expect that Playa Hotels & Resorts will post -1.04 earnings per share for the current year.

In related news, major shareholder Financial Co Ltd. Sagicor bought 1,500,000 shares of the business’s stock in a transaction on Monday, June 15th. The shares were purchased at an average price of $3.97 per share, for a total transaction of $5,955,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Tracy M. J. Colden bought 8,160 shares of the business’s stock in a transaction on Monday, June 15th. The stock was bought at an average price of $3.67 per share, for a total transaction of $29,947.20. Following the transaction, the executive vice president now directly owns 71,291 shares of the company’s stock, valued at $261,637.97. The disclosure for this purchase can be found here. Insiders have sold a total of 28,794 shares of company stock worth $77,138 in the last quarter. 4.09% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN boosted its position in Playa Hotels & Resorts by 1.9% in the first quarter. Wells Fargo & Company MN now owns 652,831 shares of the company’s stock valued at $1,142,000 after buying an additional 12,025 shares in the last quarter. BlackRock Inc. boosted its position in Playa Hotels & Resorts by 3.3% in the first quarter. BlackRock Inc. now owns 1,298,507 shares of the company’s stock valued at $2,272,000 after buying an additional 41,393 shares in the last quarter. WINTON GROUP Ltd boosted its position in Playa Hotels & Resorts by 22.1% in the first quarter. WINTON GROUP Ltd now owns 281,862 shares of the company’s stock valued at $493,000 after buying an additional 51,006 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Playa Hotels & Resorts by 3.3% during the first quarter. Geode Capital Management LLC now owns 582,675 shares of the company’s stock worth $1,019,000 after purchasing an additional 18,689 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Playa Hotels & Resorts by 586.2% during the first quarter. Assenagon Asset Management S.A. now owns 347,698 shares of the company’s stock worth $608,000 after purchasing an additional 297,025 shares during the period. Hedge funds and other institutional investors own 68.00% of the company’s stock.

Playa Hotels & Resorts Company Profile

Playa Hotels & Resorts N.V. owns, operates, and develops all-inclusive resorts in prime beachfront locations in various vacation destinations in Mexico and the Caribbean. The company operates under eight brand names. As of February 28, 2019, it owned a portfolio consisting of 21 resorts comprising 7,908 rooms located in Mexico, Jamaica, and the Dominican Republic.

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