Playa Hotels & Resorts (NASDAQ:PLYA) Sees Large Decline in Short Interest

Playa Hotels & Resorts (NASDAQ:PLYA - Get Free Report) was the target of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 4,410,000 shares, a decline of 24.1% from the November 15th total of 5,810,000 shares. Based on an average daily trading volume, of 1,080,000 shares, the days-to-cover ratio is presently 4.1 days. Currently, 5.1% of the company's stock are short sold.

Analyst Ratings Changes

Several brokerages have recently issued reports on PLYA. Truist Financial upped their target price on shares of Playa Hotels & Resorts from $10.00 to $13.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Oppenheimer raised their price objective on shares of Playa Hotels & Resorts from $10.00 to $12.00 and gave the stock an "outperform" rating in a report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Playa Hotels & Resorts presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.00.

Playa Hotels & Resorts Stock Down 0.5 %

NASDAQ PLYA traded down $0.05 during trading on Friday, reaching $10.10. 141,964 shares of the company's stock traded hands, compared to its average volume of 774,861. 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 firm has a market cap of $1.23 billion, a price-to-earnings ratio of 21.15, a price-to-earnings-growth ratio of 1.53 and a beta of 1.64. Playa Hotels & Resorts has a 12-month low of $6.95 and a 12-month high of $10.50. The company's 50 day simple moving average is $9.18 and its two-hundred day simple moving average is $8.44.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Gladius Capital Management LP acquired a new stake in Playa Hotels & Resorts during the second quarter worth about $61,000. Bailard Inc. purchased a new stake in Playa Hotels & Resorts during the 2nd quarter valued at about $258,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Playa Hotels & Resorts by 15.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,784 shares of the company's stock valued at $216,000 after purchasing an additional 3,371 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Playa Hotels & Resorts during the 2nd quarter worth $495,000. Finally, AdvisorShares Investments LLC purchased a new stake in shares of Playa Hotels & Resorts in the 2nd quarter valued at approximately $105,000. Institutional investors own 74.58% of the company's stock.

Playa Hotels & Resorts Company Profile

Playa Hotels & Resorts N.V., together with its subsidiaries, owns, develops, and operates resorts in prime beachfront locations in Mexico and the Caribbean. It owns and manages Hyatt Zilara Cancún, Hyatt Ziva Cancún, Wyndham Alltra Cancún, Wyndham Alltra Playa del Carmen, Hilton Playa del Carmen All-Inclusive Resort, Hyatt Ziva Puerto Vallarta, and Hyatt Ziva Los Cabos located in Mexico; Hyatt Zilara Rose Hall, Hyatt Ziva Rose Hall, Hilton Rose Hall Resort & Spa, Jewel Grande Montego Bay Resort & Spa, and Jewel Paradise Cove Beach Resort & Spa situated in Jamaica; the Hilton La Romana All-Inclusive Family Resort, the Hilton La Romana All-Inclusive Adult Resort, Hyatt Zilara Cap Cana, Hyatt Ziva Cap Cana, and Jewel Palm Beach located in the Dominican Republic; and manages resorts on behalf of third-party owners.