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

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

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

Analyst Ratings Changes

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

Insider Activity

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 directly owns 102,598 shares in the company, valued at approximately $927,485.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Karl Mr. Peterson sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $9.45, for a total transaction of $47,250.00. Following the sale, the director now directly owns 2,534,033 shares in the company, valued at $23,946,611.85. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Brandon B. Buhler sold 35,915 shares of the company’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 completion of the transaction, the chief accounting officer now owns 102,598 shares of the company’s stock, valued at $927,485.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 65,915 shares of company stock valued at $604,222. 7.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Playa Hotels & Resorts

Several institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. increased its stake in Playa Hotels & Resorts by 12.6% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 236,572 shares of the company’s stock valued at $1,713,000 after acquiring an additional 26,458 shares during the period. LSV Asset Management grew its position in Playa Hotels & Resorts by 4.0% in the third quarter. LSV Asset Management now owns 2,056,400 shares of the company’s stock valued at $14,888,000 after acquiring an additional 79,800 shares during the period. Jump Financial LLC raised its stake in Playa Hotels & Resorts by 237.4% during the third quarter. Jump Financial LLC now owns 51,700 shares of the company’s stock worth $374,000 after acquiring an additional 36,379 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Playa Hotels & Resorts during the third quarter valued at $76,000. Finally, CenterBook Partners LP acquired a new stake in shares of Playa Hotels & Resorts in the 3rd quarter valued at $98,000. Institutional investors own 74.58% of the company’s stock.

Playa Hotels & Resorts Trading Down 3.5 %

The firm has a market cap of $1.24 billion, a P/E ratio of 26.24, a price-to-earnings-growth ratio of 6.89 and a beta of 1.54. The company’s fifty day moving average price is $9.37 and its two-hundred day moving average price is $8.52. The company has a current ratio of 2.00, a quick ratio of 1.91 and a debt-to-equity ratio of 1.91.

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.