Playa Hotels & Resorts (NASDAQ:PLYA) Sees Significant Increase in Short Interest

Playa Hotels & Resorts (NASDAQ:PLYA) was the recipient of a significant growth in short interest in December. As of December 15th, there was short interest totalling 5,590,000 shares, a growth of 26.8% from the November 30th total of 4,410,000 shares. Based on an average daily volume of 1,130,000 shares, the short-interest ratio is currently 4.9 days. Approximately 6.6% of the company’s stock are sold short.

Hedge Funds Weigh In On Playa Hotels & Resorts

Several large investors have recently made changes to their positions in the business. Hotchkis & Wiley Capital Management LLC bought a new position in Playa Hotels & Resorts in the 3rd quarter worth approximately $6,032,000. Long Pond Capital LP increased its position in Playa Hotels & Resorts by 14.9% during the second quarter. Long Pond Capital LP now owns 3,991,276 shares of the company’s stock worth $33,487,000 after acquiring an additional 518,316 shares during the period. American Century Companies Inc. raised its holdings in Playa Hotels & Resorts by 12.2% in the 2nd quarter. American Century Companies Inc. now owns 2,425,296 shares of the company’s stock valued at $20,348,000 after acquiring an additional 264,275 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in shares of Playa Hotels & Resorts by 486.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 264,625 shares of the company’s stock worth $2,220,000 after acquiring an additional 219,501 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Playa Hotels & Resorts during the 2nd quarter worth approximately $1,168,000. Institutional investors and hedge funds own 74.58% of the company’s stock.

Playa Hotels & Resorts Stock Performance

Playa Hotels & Resorts stock traded up $0.28 on Tuesday, reaching $12.65. 1,124,693 shares of the stock were exchanged, compared to its average volume of 802,062. The company has a current ratio of 2.24, a quick ratio of 2.14 and a debt-to-equity ratio of 2.16. Playa Hotels & Resorts has a twelve month low of $6.95 and a twelve month high of $12.72. The firm has a fifty day moving average price of $9.84 and a two-hundred day moving average price of $8.66. The stock has a market cap of $1.54 billion, a PE ratio of 26.35, a PEG ratio of 1.52 and a beta of 1.64.

Analysts Set New Price Targets

PLYA has been the subject of a number of analyst reports. Truist Financial reaffirmed a “buy” rating and issued a $13.00 price target on shares of Playa Hotels & Resorts in a research report on Tuesday, December 24th. Oppenheimer boosted their target price on 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $12.00.

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.