Playa Hotels & Resorts (NASDAQ:PLYA) Sets New 1-Year High – Time to Buy?

Playa Hotels & Resorts (NASDAQ:PLYA)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $12.87 and last traded at $12.77, with a volume of 15078 shares trading hands. The stock had previously closed at $12.64.

Analysts Set New Price Targets

PLYA has been the topic of a number of analyst reports. Oppenheimer increased their price objective on shares of Playa Hotels & Resorts from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Truist Financial restated a “hold” rating and set a $13.00 price objective on shares of Playa Hotels & Resorts in a research report on Tuesday, January 7th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $12.00.

Playa Hotels & Resorts Stock Performance

The business’s 50 day simple moving average is $11.59 and its two-hundred day simple moving average is $9.43. The stock has a market cap of $1.57 billion, a P/E ratio of 26.83, a PEG ratio of 1.72 and a beta of 1.54. The company has a quick ratio of 2.14, a current ratio of 2.24 and a debt-to-equity ratio of 2.16.

Hedge Funds Weigh In On Playa Hotels & Resorts

A number of hedge funds have recently made changes to their positions in PLYA. Bank of New York Mellon Corp lifted its holdings in Playa Hotels & Resorts by 313.6% in the fourth quarter. Bank of New York Mellon Corp now owns 81,021 shares of the company’s stock valued at $1,025,000 after buying an additional 61,431 shares during the period. Nkcfo LLC bought a new position in shares of Playa Hotels & Resorts in the 4th quarter worth about $696,000. Avidian Wealth Enterprises LLC acquired a new position in shares of Playa Hotels & Resorts in the 4th quarter valued at about $126,000. EMC Capital Management boosted its position in shares of Playa Hotels & Resorts by 193.5% during the 4th quarter. EMC Capital Management now owns 24,632 shares of the company’s stock valued at $312,000 after purchasing an additional 16,240 shares in the last quarter. Finally, SkyView Investment Advisors LLC grew its stake in Playa Hotels & Resorts by 3.0% during the third quarter. SkyView Investment Advisors LLC now owns 57,687 shares of the company’s stock worth $447,000 after purchasing an additional 1,664 shares during the period. 74.58% of the stock is currently owned by institutional investors.

About Playa Hotels & Resorts

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.