New South Capital Management Inc. Buys Shares of 899,140 Playa Hotels & Resorts (NASDAQ:PLYA)

New South Capital Management Inc. bought a new stake in shares of Playa Hotels & Resorts (NASDAQ:PLYA) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 899,140 shares of the company’s stock, valued at approximately $11,374,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC increased its holdings 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 buying an additional 4,342 shares during the last quarter. Avidian Wealth Enterprises LLC bought a new position in shares of Playa Hotels & Resorts in the fourth quarter worth approximately $126,000. Barclays PLC boosted its position in shares of Playa Hotels & Resorts by 993.7% in the third quarter. Barclays PLC now owns 21,240 shares of the company’s stock worth $165,000 after purchasing an additional 19,298 shares during the period. EMC Capital Management boosted its position in shares of Playa Hotels & Resorts by 193.5% in the fourth quarter. EMC Capital Management now owns 24,632 shares of the company’s stock worth $312,000 after purchasing an additional 16,240 shares during the period. Finally, FMR LLC boosted its position in shares of Playa Hotels & Resorts by 59.5% in the third quarter. FMR LLC now owns 26,041 shares of the company’s stock worth $202,000 after purchasing an additional 9,713 shares during the period. 74.58% of the stock is owned by hedge funds and other institutional investors.

Playa Hotels & Resorts Price Performance

Shares of NASDAQ:PLYA opened at $13.35 on Thursday. 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 firm has a fifty day moving average price of $12.77 and a 200 day moving average price of $10.17. Playa Hotels & Resorts has a fifty-two week low of $6.95 and a fifty-two week high of $13.40. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 27.81, a P/E/G ratio of 2.44 and a beta of 1.44.

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

Analysts Set New Price Targets

PLYA has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lowered shares of Playa Hotels & Resorts from a “buy” rating to a “hold” rating and dropped their price target for the stock from $15.00 to $13.50 in a research report on Tuesday, February 11th. Macquarie lowered shares of Playa Hotels & Resorts from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 10th. Truist Financial reiterated a “hold” rating and issued a $13.00 price target on shares of Playa Hotels & Resorts in a research report on Tuesday, January 7th. Finally, Oppenheimer lowered shares of Playa Hotels & Resorts from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 11th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.10.

Playa Hotels & Resorts 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.