Playa Hotels & Resorts (NASDAQ:PLYA) Hits New 1-Year High on Better-Than-Expected Earnings

Playa Hotels & Resorts (NASDAQ:PLYA) shares hit a new 52-week high during trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $9.85 and last traded at $9.50, with a volume of 116014 shares changing hands. The stock had previously closed at $9.43.

The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. Playa Hotels & Resorts had a return on equity of 10.67% and a net margin of 5.51%. The business had revenue of $300.64 million during the quarter, compared to the consensus estimate of $273.77 million. During the same period last year, the business posted $0.31 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis.

Analyst Upgrades and Downgrades

Separately, Truist Financial raised their price target on shares of Playa Hotels & Resorts from $13.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, February 27th.

Insider Activity at Playa Hotels & Resorts

In other Playa Hotels & Resorts news, CAO Brandon B. Buhler sold 35,915 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $9.04, for a total value of $324,671.60. Following the sale, the chief accounting officer now owns 102,598 shares of the company’s stock, valued at approximately $927,485.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Playa Hotels & Resorts news, CAO Brandon B. Buhler sold 35,915 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $9.04, for a total value of $324,671.60. Following the completion of the sale, the chief accounting officer now owns 102,598 shares in the company, valued at approximately $927,485.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Karl Mr. Peterson sold 5,000 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $9.45, for a total value of $47,250.00. Following the completion of the sale, the director now directly owns 2,534,033 shares of the company’s stock, valued at approximately $23,946,611.85. The disclosure for this sale can be found here. Insiders sold 65,915 shares of company stock worth $604,222 in the last ninety days. 7.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Playa Hotels & Resorts

Several hedge funds have recently bought and sold shares of PLYA. HBK Sorce Advisory LLC lifted its position in Playa Hotels & Resorts by 6.2% during the fourth quarter. HBK Sorce Advisory LLC now owns 23,548 shares of the company’s stock valued at $204,000 after purchasing an additional 1,369 shares during the period. Raymond James & Associates lifted its holdings in shares of Playa Hotels & Resorts by 2.3% during the 4th quarter. Raymond James & Associates now owns 65,821 shares of the company’s stock valued at $569,000 after buying an additional 1,500 shares during the period. SkyView Investment Advisors LLC boosted its stake in shares of Playa Hotels & Resorts by 5.1% in the 3rd quarter. SkyView Investment Advisors LLC now owns 44,739 shares of the company’s stock worth $324,000 after buying an additional 2,173 shares during the last quarter. Clear Harbor Asset Management LLC grew its holdings in shares of Playa Hotels & Resorts by 8.5% in the fourth quarter. Clear Harbor Asset Management LLC now owns 31,900 shares of the company’s stock worth $276,000 after acquiring an additional 2,500 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Playa Hotels & Resorts by 16.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,233 shares of the company’s stock valued at $158,000 after acquiring an additional 2,634 shares during the last quarter. Institutional investors own 74.58% of the company’s stock.

Playa Hotels & Resorts Stock Performance

The company has a market cap of $1.28 billion, a P/E ratio of 27.18, a P/E/G ratio of 6.89 and a beta of 1.54. The company has a quick ratio of 1.91, a current ratio of 2.00 and a debt-to-equity ratio of 1.91. The business has a fifty day simple moving average of $9.38 and a two-hundred day simple moving average of $8.51.

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.