Long Pond Capital LP Takes Position in Playa Hotels & Resorts NV (NASDAQ:PLYA)

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Long Pond Capital LP bought a new stake in Playa Hotels & Resorts NV (NASDAQ:PLYA) in the first quarter, Holdings Channel reports. The institutional investor bought 1,405,596 shares of the company’s stock, valued at approximately $10,725,000.

Several other institutional investors also recently modified their holdings of PLYA. Northern Trust Corp lifted its position in Playa Hotels & Resorts by 1.2% in the 4th quarter. Northern Trust Corp now owns 135,804 shares of the company’s stock valued at $976,000 after acquiring an additional 1,595 shares in the last quarter. Swiss National Bank grew its stake in Playa Hotels & Resorts by 3.2% in the 1st quarter. Swiss National Bank now owns 107,100 shares of the company’s stock valued at $817,000 after buying an additional 3,300 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Playa Hotels & Resorts by 175.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,330 shares of the company’s stock valued at $38,000 after buying an additional 3,396 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Playa Hotels & Resorts by 11.8% in the 4th quarter. Bank of New York Mellon Corp now owns 67,880 shares of the company’s stock valued at $488,000 after buying an additional 7,180 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in Playa Hotels & Resorts in the 4th quarter valued at about $93,000. 70.95% of the stock is owned by institutional investors and hedge funds.

PLYA has been the subject of a number of recent analyst reports. BidaskClub downgraded shares of Playa Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Monday, April 1st. Deutsche Bank restated a “buy” rating and issued a $14.00 price target on shares of Playa Hotels & Resorts in a research report on Monday, March 4th. Finally, TheStreet upgraded shares of Playa Hotels & Resorts from a “d+” rating to a “c-” rating in a research report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $12.00.

PLYA stock traded up $0.03 during mid-day trading on Friday, hitting $8.03. The company had a trading volume of 8,041 shares, compared to its average volume of 259,224. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 24.28 and a beta of 0.50. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.42 and a current ratio of 1.52. Playa Hotels & Resorts NV has a 12 month low of $5.98 and a 12 month high of $11.48.

Playa Hotels & Resorts (NASDAQ:PLYA) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.18 by $0.18. Playa Hotels & Resorts had a net margin of 6.31% and a return on equity of 5.89%. The company had revenue of $195.80 million during the quarter, compared to analysts’ expectations of $182.60 million. During the same quarter in the previous year, the company earned $0.32 earnings per share. Playa Hotels & Resorts’s revenue for the quarter was up 10.7% on a year-over-year basis. Analysts forecast that Playa Hotels & Resorts NV will post 0.2 earnings per share for the current year.

In related news, insider Brandon B. Buhler sold 4,911 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $8.12, for a total transaction of $39,877.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Brandon B. Buhler sold 7,475 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $8.20, for a total transaction of $61,295.00. The disclosure for this sale can be found here. Insiders own 3.67% of the company’s stock.

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About Playa Hotels & Resorts

Playa Hotels & Resorts N.V. owns, operates, and develops all-inclusive resorts in prime beachfront locations in various vacation destinations in Mexico and the Caribbean. The company operates under eight brand names. As of February 28, 2019, it owned a portfolio consisting of 21 resorts comprising 7,908 rooms located in Mexico, Jamaica, and the Dominican Republic.

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Want to see what other hedge funds are holding PLYA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Playa Hotels & Resorts NV (NASDAQ:PLYA).

Institutional Ownership by Quarter for Playa Hotels & Resorts (NASDAQ:PLYA)

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