Playa Hotels & Resorts (NASDAQ:PLYA) Shares Gap Down – Here’s What Happened

Playa Hotels & Resorts (NASDAQ:PLYA) gapped down before the market opened on Tuesday . The stock had previously closed at $9.90, but opened at $9.41. Playa Hotels & Resorts shares last traded at $9.41, with a volume of 121 shares.

Analysts Set New Price Targets

Several research analysts recently issued reports on PLYA shares. Citigroup reissued a “neutral” rating and set a $8.00 price target (down from $12.00) on shares of Playa Hotels & Resorts in a report on Tuesday, August 13th. Macquarie reissued an “outperform” rating and set a $14.00 price target on shares of Playa Hotels & Resorts in a report on Wednesday, August 7th. Truist Financial cut their price target on shares of Playa Hotels & Resorts from $12.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Playa Hotels & Resorts from $14.00 to $13.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Oppenheimer increased their price target 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 research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.40.

Playa Hotels & Resorts Stock Performance

The company has a quick ratio of 2.14, a current ratio of 2.24 and a debt-to-equity ratio of 2.16. The company has a market capitalization of $1.19 billion, a PE ratio of 20.44, a PEG ratio of 1.68 and a beta of 1.60. The stock’s fifty day simple moving average is $8.62 and its 200-day simple moving average is $8.30.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. SkyView Investment Advisors LLC increased its stake in shares of Playa Hotels & Resorts by 3.0% during the 3rd quarter. SkyView Investment Advisors LLC now owns 57,687 shares of the company’s stock worth $447,000 after purchasing an additional 1,664 shares in the last quarter. Aristides Capital LLC increased its stake in shares of Playa Hotels & Resorts by 6.0% during the 2nd quarter. Aristides Capital LLC now owns 30,943 shares of the company’s stock worth $260,000 after purchasing an additional 1,739 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Playa Hotels & Resorts by 1.4% during the 2nd quarter. AQR Capital Management LLC now owns 144,146 shares of the company’s stock worth $1,209,000 after purchasing an additional 2,006 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Playa Hotels & Resorts by 15.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,784 shares of the company’s stock worth $216,000 after purchasing an additional 3,371 shares in the last quarter. Finally, PDT Partners LLC increased its stake in shares of Playa Hotels & Resorts by 3.1% during the 3rd quarter. PDT Partners LLC now owns 115,065 shares of the company’s stock worth $892,000 after purchasing an additional 3,502 shares in the last quarter. 74.58% of the stock is owned by hedge funds and other institutional investors.

About Playa Hotels & Resorts

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.