Playa Hotels & Resorts (NASDAQ:PLYA) Short Interest Up 16.6% in October

Playa Hotels & Resorts (NASDAQ:PLYA) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 6,100,000 shares, a growth of 16.6% from the October 15th total of 5,230,000 shares. Currently, 7.0% of the shares of the company are sold short. Based on an average trading volume of 999,000 shares, the days-to-cover ratio is currently 6.1 days.

Institutional Investors Weigh In On Playa Hotels & Resorts

Institutional investors have recently bought and sold shares of the business. MQS Management LLC acquired a new position in Playa Hotels & Resorts in the 3rd quarter valued at approximately $689,000. Cubist Systematic Strategies LLC grew its stake in Playa Hotels & Resorts by 486.4% in the second quarter. Cubist Systematic Strategies LLC now owns 264,625 shares of the company’s stock valued at $2,220,000 after purchasing an additional 219,501 shares in the last quarter. Maverick Capital Ltd. raised its stake in shares of Playa Hotels & Resorts by 335.0% during the 2nd quarter. Maverick Capital Ltd. now owns 166,536 shares of the company’s stock worth $1,397,000 after purchasing an additional 128,256 shares in the last quarter. Aristides Capital LLC lifted its holdings in shares of Playa Hotels & Resorts by 6.0% during the 2nd quarter. Aristides Capital LLC now owns 30,943 shares of the company’s stock valued at $260,000 after buying an additional 1,739 shares during the last quarter. Finally, Algert Global LLC bought a new stake in shares of Playa Hotels & Resorts in the 2nd quarter valued at approximately $527,000. 74.58% of the stock is currently owned by institutional investors and hedge funds.

Playa Hotels & Resorts Trading Down 0.2 %

Playa Hotels & Resorts stock traded down $0.02 during midday trading on Friday, reaching $9.49. The stock had a trading volume of 799,752 shares, compared to its average volume of 1,192,374. The firm’s fifty day simple moving average is $8.38 and its two-hundred day simple moving average is $8.29. The company has a debt-to-equity ratio of 2.16, a current ratio of 2.24 and a quick ratio of 2.14. Playa Hotels & Resorts has a twelve month low of $6.95 and a twelve month high of $10.13. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 1.64 and a beta of 1.60.

Wall Street Analyst Weigh In

Several research firms have weighed in on PLYA. Macquarie reiterated an “outperform” rating and set a $14.00 target price on shares of Playa Hotels & Resorts in a research note on Wednesday, August 7th. Truist Financial reduced their price target on Playa Hotels & Resorts from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lowered their target price on Playa Hotels & Resorts from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Oppenheimer raised their price objective on shares of Playa Hotels & Resorts from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $8.00 price target (down previously from $12.00) on shares of Playa Hotels & Resorts in a report on Tuesday, August 13th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Playa Hotels & Resorts currently has an average rating of “Moderate Buy” and an average price target of $11.40.

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.