King Luther Capital Management Corp Increases Stock Position in Playa Hotels & Resorts (NASDAQ:PLYA)

King Luther Capital Management Corp grew its holdings in Playa Hotels & Resorts (NASDAQ:PLYA) by 5.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 424,046 shares of the company’s stock after buying an additional 23,719 shares during the period. King Luther Capital Management Corp owned 0.32% of Playa Hotels & Resorts worth $3,558,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Gladius Capital Management LP purchased a new stake in shares of Playa Hotels & Resorts in the second quarter valued at about $61,000. Canada Pension Plan Investment Board purchased a new position in Playa Hotels & Resorts during the second quarter worth about $88,000. Lazard Asset Management LLC purchased a new position in Playa Hotels & Resorts during the first quarter worth about $95,000. Quadrature Capital Ltd purchased a new position in Playa Hotels & Resorts during the first quarter worth about $98,000. Finally, AdvisorShares Investments LLC acquired a new position in Playa Hotels & Resorts during the second quarter worth about $105,000. 74.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PLYA has been the topic of several recent analyst reports. Oppenheimer lowered their target price on shares of 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. Citigroup restated a “neutral” rating and set a $8.00 target price (down from $12.00) on shares of Playa Hotels & Resorts in a research report on Tuesday, August 13th. Truist Financial lowered their target price on shares of 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 lowered their target price on shares of 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, Macquarie restated an “outperform” rating and set a $14.00 target price on shares of Playa Hotels & Resorts in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $11.00.

Playa Hotels & Resorts Stock Down 0.4 %

PLYA stock opened at $7.97 on Friday. The company’s 50 day simple moving average is $7.87 and its 200-day simple moving average is $8.53. The firm has a market capitalization of $1.06 billion, a PE ratio of 17.33, a P/E/G ratio of 0.82 and a beta of 1.62. Playa Hotels & Resorts has a 12 month low of $6.88 and a 12 month high of $9.85. The company has a debt-to-equity ratio of 1.93, a current ratio of 2.23 and a quick ratio of 2.13.

Playa Hotels & Resorts (NASDAQ:PLYA) last released 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 business had revenue of $235.48 million for the quarter, compared to analyst estimates of $228.95 million. Playa Hotels & Resorts had a net margin of 5.85% and a return on equity of 11.79%. The company’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.13 earnings per share. Equities analysts expect that Playa Hotels & Resorts will post 0.41 earnings per share for the current fiscal year.

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.