Raymond James Financial Inc. Buys New Position in Playa Hotels & Resorts (NASDAQ:PLYA)

Raymond James Financial Inc. bought a new position in shares of Playa Hotels & Resorts (NASDAQ:PLYA - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 419,622 shares of the company's stock, valued at approximately $5,308,000. Raymond James Financial Inc. owned approximately 0.35% of Playa Hotels & Resorts at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. American Century Companies Inc. lifted its holdings in Playa Hotels & Resorts by 8.9% in the fourth quarter. American Century Companies Inc. now owns 2,980,647 shares of the company's stock valued at $37,705,000 after buying an additional 244,584 shares during the period. Arrowstreet Capital Limited Partnership grew 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 acquiring an additional 387,270 shares during the period. New South Capital Management Inc. acquired a new position in Playa Hotels & Resorts in the fourth quarter valued at about $11,374,000. Cinctive Capital Management LP acquired a new position in Playa Hotels & Resorts in the fourth quarter valued at about $3,256,000. Finally, Rock Creek Group LP boosted its position in shares of Playa Hotels & Resorts by 59.0% during the fourth quarter. Rock Creek Group LP now owns 198,691 shares of the company's stock worth $2,513,000 after buying an additional 73,691 shares during the period. 74.58% of the stock is currently owned by institutional investors and hedge funds.

Playa Hotels & Resorts Price Performance

Shares of Playa Hotels & Resorts stock traded down $0.02 during trading on Monday, reaching $13.41. 3,661,838 shares of the company's stock were exchanged, compared to its average volume of 1,962,505. 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 company has a market cap of $1.65 billion, a P/E ratio of 27.94, a PEG ratio of 2.44 and a beta of 0.91. Playa Hotels & Resorts has a 1-year low of $6.95 and a 1-year high of $13.44. The firm's 50-day moving average price is $13.34 and its 200 day moving average price is $11.75.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on PLYA. Macquarie cut Playa Hotels & Resorts from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 10th. Deutsche Bank Aktiengesellschaft lowered Playa Hotels & Resorts from a "buy" rating to a "hold" rating and dropped their price objective for the company from $15.00 to $13.50 in a research note on Tuesday, February 11th. Truist Financial reaffirmed a "hold" rating and issued a $13.00 target price on shares of Playa Hotels & Resorts in a research report on Tuesday, January 7th. Finally, Oppenheimer downgraded Playa Hotels & Resorts from an "outperform" rating to a "market perform" rating in a research report on Tuesday, February 11th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, Playa Hotels & Resorts presently has a consensus rating of "Hold" and an average target price 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.