Playa Hotels & Resorts (NASDAQ:PLYA) Hits New 52-Week High - Here's Why

Shares of Playa Hotels & Resorts (NASDAQ:PLYA - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $13.27 and last traded at $13.20, with a volume of 14539854 shares traded. The stock had previously closed at $12.94.

Analyst Ratings Changes

Several brokerages have weighed in on PLYA. Oppenheimer cut Playa Hotels & Resorts from an "outperform" rating to a "market perform" rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft downgraded shares of Playa Hotels & Resorts from a "buy" rating to a "hold" rating and dropped their price target for the stock from $15.00 to $13.50 in a research note on Tuesday. Truist Financial reaffirmed a "hold" rating and set a $13.00 target price on shares of Playa Hotels & Resorts in a report on Tuesday, January 7th. Finally, Macquarie cut shares of Playa Hotels & Resorts from a "strong-buy" rating to a "hold" rating in a research report on Monday. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $12.10.

Playa Hotels & Resorts Stock Up 0.6 %

The business's 50-day moving average is $11.92 and its two-hundred day moving average is $9.60. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 27.83, a P/E/G ratio of 1.83 and a beta of 1.54. The company has a debt-to-equity ratio of 2.16, a quick ratio of 2.14 and a current ratio of 2.24.

Institutional Investors Weigh In On Playa Hotels & Resorts

Several hedge funds have recently bought and sold shares of the company. SkyView Investment Advisors LLC grew its holdings in shares of Playa Hotels & Resorts by 3.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 57,687 shares of the company's stock valued at $447,000 after buying an additional 1,664 shares during the period. PDT Partners LLC lifted its holdings in Playa Hotels & Resorts by 3.1% during the third quarter. PDT Partners LLC now owns 115,065 shares of the company's stock worth $892,000 after acquiring an additional 3,502 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Playa Hotels & Resorts by 13.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,339 shares of the company's stock valued at $227,000 after acquiring an additional 3,555 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in shares of Playa Hotels & Resorts by 86.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,372 shares of the company's stock worth $119,000 after acquiring an additional 4,342 shares in the last quarter. Finally, King Luther Capital Management Corp increased its holdings in shares of Playa Hotels & Resorts by 1.2% in the third quarter. King Luther Capital Management Corp now owns 429,200 shares of the company's stock worth $3,326,000 after acquiring an additional 5,154 shares in the last quarter. 74.58% of the stock is currently owned by institutional investors and hedge funds.

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.