Playa Hotels & Resorts (NASDAQ:PLYA) Short Interest Down 50.0% in March

Playa Hotels & Resorts (NASDAQ:PLYA) saw a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 7,920,000 shares, a decline of 50.0% from the March 15th total of 15,850,000 shares. Approximately 8.7% of the company’s shares are sold short. Based on an average daily volume of 4,630,000 shares, the days-to-cover ratio is currently 1.7 days.

Playa Hotels & Resorts Price Performance

NASDAQ PLYA traded down $0.02 during trading hours on Wednesday, reaching $13.40. The company’s stock had a trading volume of 571,267 shares, compared to its average volume of 1,861,067. 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 company’s 50-day moving average is $13.32 and its two-hundred day moving average is $11.38. Playa Hotels & Resorts has a fifty-two week low of $6.95 and a fifty-two week high of $13.43. The stock has a market cap of $1.65 billion, a PE ratio of 27.92, a PEG ratio of 2.44 and a beta of 0.91.

Playa Hotels & Resorts (NASDAQ:PLYA) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04. Playa Hotels & Resorts had a return on equity of 14.12% and a net margin of 6.84%. The firm had revenue of $218.94 million for the quarter, compared to analyst estimates of $212.26 million. Analysts forecast that Playa Hotels & Resorts will post 0.56 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Truist Financial reissued a “hold” rating and issued a $13.00 price target on shares of Playa Hotels & Resorts in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft cut shares of Playa Hotels & Resorts from a “buy” rating to a “hold” rating and reduced their target price for the company from $15.00 to $13.50 in a report on Tuesday, February 11th. Oppenheimer downgraded Playa Hotels & Resorts from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 11th. Finally, Macquarie downgraded shares of Playa Hotels & Resorts from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 10th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $12.10.

Institutional Trading of Playa Hotels & Resorts

A number of hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its holdings in Playa Hotels & Resorts by 5,003.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,266 shares of the company’s stock worth $41,000 after purchasing an additional 3,202 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in Playa Hotels & Resorts by 86.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,372 shares of the company’s stock valued at $119,000 after purchasing an additional 4,342 shares during the last quarter. Avidian Wealth Enterprises LLC acquired a new stake in shares of Playa Hotels & Resorts during the fourth quarter worth $126,000. Barclays PLC boosted its holdings in shares of Playa Hotels & Resorts by 993.7% in the 3rd quarter. Barclays PLC now owns 21,240 shares of the company’s stock valued at $165,000 after buying an additional 19,298 shares during the period. Finally, FMR LLC raised its stake in Playa Hotels & Resorts by 59.5% during the third quarter. FMR LLC now owns 26,041 shares of the company’s stock worth $202,000 after acquiring an additional 9,713 shares during the period. Hedge funds and other institutional investors own 74.58% of the company’s stock.

Playa Hotels & Resorts Company Profile

Playa Hotels & Resorts NV engages in the operation of hotels and resorts. The firm’s geographical segments include 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.