Playa Hotels & Resorts (NASDAQ:PLYA) Shares Sold by Rubric Capital Management LP

Rubric Capital Management LP decreased its position in Playa Hotels & Resorts (NASDAQ:PLYA) by 75.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,037,788 shares of the company’s stock after selling 3,118,052 shares during the quarter. Rubric Capital Management LP owned about 0.78% of Playa Hotels & Resorts worth $8,707,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its position in shares of Playa Hotels & Resorts by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,673,429 shares of the company’s stock worth $64,379,000 after purchasing an additional 63,595 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Playa Hotels & Resorts by 9.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,421,243 shares of the company’s stock worth $46,894,000 after purchasing an additional 461,888 shares during the period. American Century Companies Inc. raised its position in shares of Playa Hotels & Resorts by 12.2% during the second quarter. American Century Companies Inc. now owns 2,425,296 shares of the company’s stock worth $20,348,000 after purchasing an additional 264,275 shares during the period. BNP Paribas Financial Markets raised its position in Playa Hotels & Resorts by 7.3% during the first quarter. BNP Paribas Financial Markets now owns 1,081,651 shares of the company’s stock valued at $10,492,000 after buying an additional 73,614 shares during the period. Finally, King Luther Capital Management Corp raised its position in Playa Hotels & Resorts by 5.9% during the second quarter. King Luther Capital Management Corp now owns 424,046 shares of the company’s stock valued at $3,558,000 after buying an additional 23,719 shares during the period. Institutional investors and hedge funds own 74.58% of the company’s stock.

Playa Hotels & Resorts Price Performance

Shares of NASDAQ:PLYA opened at $7.97 on Friday. The business has a 50 day moving average price of $7.87 and a 200 day moving average price of $8.53. Playa Hotels & Resorts has a twelve month low of $6.88 and a twelve month high of $9.85. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 0.82 and a beta of 1.62. The company has a quick ratio of 2.13, a current ratio of 2.23 and a debt-to-equity ratio of 1.93.

Playa Hotels & Resorts (NASDAQ:PLYA) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. The firm had revenue of $235.48 million during the quarter, compared to analysts’ expectations of $228.95 million. Playa Hotels & Resorts had a return on equity of 11.79% and a net margin of 5.85%. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.13 EPS. Research analysts predict that Playa Hotels & Resorts will post 0.41 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on PLYA. Oppenheimer dropped their price target on Playa Hotels & Resorts from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Macquarie reaffirmed an “outperform” rating and issued a $14.00 target price on shares of Playa Hotels & Resorts in a research report on Wednesday, August 7th. Truist Financial dropped their target price on Playa Hotels & Resorts from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft dropped their target price on Playa Hotels & Resorts from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Citigroup reiterated a “neutral” rating and set a $8.00 price target (down previously from $12.00) on shares of Playa Hotels & Resorts in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Playa Hotels & Resorts 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.