The Manufacturers Life Insurance Company Trims Stake in Playa Hotels & Resorts (NASDAQ:PLYA)

The Manufacturers Life Insurance Company reduced its position in Playa Hotels & Resorts (NASDAQ:PLYA) by 11.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,348 shares of the company’s stock after selling 1,754 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Playa Hotels & Resorts were worth $169,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nkcfo LLC purchased a new stake in Playa Hotels & Resorts in the 4th quarter worth about $696,000. Barclays PLC lifted its holdings in Playa Hotels & Resorts by 383.9% during the 4th quarter. Barclays PLC now owns 102,785 shares of the company’s stock valued at $1,300,000 after buying an additional 81,545 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Playa Hotels & Resorts during the 4th quarter valued at about $5,308,000. Arrowstreet Capital Limited Partnership lifted its holdings in Playa Hotels & Resorts by 18.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,434,496 shares of the company’s stock valued at $30,796,000 after buying an additional 387,270 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Playa Hotels & Resorts by 313.6% during the 4th quarter. Bank of New York Mellon Corp now owns 81,021 shares of the company’s stock valued at $1,025,000 after buying an additional 61,431 shares in the last quarter. 74.58% of the stock is owned by hedge funds and other institutional investors.

Playa Hotels & Resorts Stock Performance

NASDAQ:PLYA opened at $13.44 on Monday. Playa Hotels & Resorts has a one year low of $6.95 and a one year high of $13.45. 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 firm has a market cap of $1.65 billion, a P/E ratio of 28.00, a P/E/G ratio of 2.44 and a beta of 0.67. The firm has a 50-day simple moving average of $13.37 and a 200-day simple moving average of $12.22.

Playa Hotels & Resorts (NASDAQ:PLYA) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). Playa Hotels & Resorts had a net margin of 6.84% and a return on equity of 14.12%. The business had revenue of $267.29 million during the quarter, compared to the consensus estimate of $262.24 million. During the same quarter in the prior year, the firm posted $0.40 EPS. The company’s revenue for the quarter was down 11.1% compared to the same quarter last year. Equities analysts anticipate that Playa Hotels & Resorts will post 0.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on PLYA. Deutsche Bank Aktiengesellschaft lowered shares of Playa Hotels & Resorts from a “buy” rating to a “hold” rating and decreased their price objective for the company from $15.00 to $13.50 in a report on Tuesday, February 11th. Oppenheimer lowered shares of Playa Hotels & Resorts from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 11th. Finally, Macquarie reiterated a “neutral” rating and set a $13.50 price objective on shares of Playa Hotels & Resorts in a report on Tuesday, May 6th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Playa Hotels & Resorts presently has an average rating of “Hold” and an average price target of $12.00.

Playa Hotels & Resorts Company Profile

Playa Hotels & Resorts NV engages in the operation of hotels and resorts. The firm operates through the following geographical segments: 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.