Playa Hotels & Resorts (NASDAQ:PLYA) Sets New 52-Week High Following Earnings Beat

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

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

Wall Street Analysts Forecast Growth

Separately, Truist Financial boosted 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 at Playa Hotels & Resorts

In other news, Director Karl Mr. Peterson sold 5,000 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $9.45, for a total transaction of $47,250.00. Following the completion of the transaction, the director now owns 2,534,033 shares of the company’s stock, valued at $23,946,611.85. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO Brandon B. Buhler sold 35,915 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $9.04, for a total transaction of $324,671.60. Following the completion of the sale, the chief accounting officer now directly owns 102,598 shares of the company’s stock, valued at $927,485.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Karl Mr. Peterson sold 5,000 shares of Playa Hotels & Resorts stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $9.45, for a total value of $47,250.00. Following the transaction, the director now directly owns 2,534,033 shares in the company, valued at approximately $23,946,611.85. The disclosure for this sale can be found here. Insiders sold a total of 65,915 shares of company stock valued at $604,222 over the last three months. 7.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Campbell & CO Investment Adviser LLC acquired a new position in Playa Hotels & Resorts in the 3rd quarter valued at $76,000. Inceptionr LLC acquired a new position in shares of Playa Hotels & Resorts during the 4th quarter worth about $93,000. CenterBook Partners LP bought a new stake in Playa Hotels & Resorts during the 3rd quarter valued at approximately $98,000. Counterpoint Mutual Funds LLC acquired a new stake in Playa Hotels & Resorts in the 1st quarter valued at approximately $134,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Playa Hotels & Resorts by 16.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,233 shares of the company’s stock worth $158,000 after buying an additional 2,634 shares during the period. 74.58% of the stock is owned by institutional investors.

Playa Hotels & Resorts Trading Down 2.0 %

The business has a fifty day moving average price of $9.38 and a 200 day moving average price of $8.51. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 6.89 and a beta of 1.54. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.00 and a quick ratio of 1.91.

About Playa Hotels & Resorts

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.