Playa Hotels & Resorts (NASDAQ:PLYA) Shares Sold by Bank of America Corp DE

Bank of America Corp DE reduced its position in Playa Hotels & Resorts (NASDAQ:PLYA - Free Report) by 38.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,548 shares of the company's stock after selling 53,125 shares during the period. Bank of America Corp DE owned approximately 0.07% of Playa Hotels & Resorts worth $1,095,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PLYA. Long Pond Capital LP grew its position in Playa Hotels & Resorts by 16.2% during the fourth quarter. Long Pond Capital LP now owns 7,941,444 shares of the company's stock valued at $100,459,000 after buying an additional 1,107,983 shares during the period. Voss Capital LP boosted its stake in Playa Hotels & Resorts by 54.5% during the fourth quarter. Voss Capital LP now owns 6,576,824 shares of the company's stock valued at $83,197,000 after buying an additional 2,320,641 shares during the period. American Century Companies Inc. boosted its position in shares of Playa Hotels & Resorts by 8.9% during the 4th quarter. American Century Companies Inc. now owns 2,980,647 shares of the company's stock valued at $37,705,000 after acquiring an additional 244,584 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Playa Hotels & Resorts by 18.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,434,496 shares of the company's stock worth $30,796,000 after acquiring an additional 387,270 shares during the last quarter. Finally, New South Capital Management Inc. bought a new stake in Playa Hotels & Resorts during the fourth quarter worth about $11,374,000. 74.58% of the stock is owned by institutional investors.

Playa Hotels & Resorts Stock Performance

NASDAQ:PLYA remained flat at $13.48 during trading hours on Friday. 1,345,231 shares of the company were exchanged, compared to its average volume of 2,033,052. The stock has a market cap of $1.66 billion, a P/E ratio of 28.08, a P/E/G ratio of 2.44 and a beta of 0.65. The company has a quick ratio of 2.14, a current ratio of 2.24 and a debt-to-equity ratio of 2.16. The firm has a 50 day simple moving average of $13.41 and a 200 day simple moving average of $12.60. Playa Hotels & Resorts has a 52 week low of $6.95 and a 52 week high of $13.48.

Playa Hotels & Resorts (NASDAQ:PLYA - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). Playa Hotels & Resorts had a net margin of 6.84% and a return on equity of 14.12%. The company had revenue of $267.29 million for the quarter, compared to analyst estimates of $262.24 million. During the same quarter in the previous year, the company posted $0.40 EPS. The company's revenue for the quarter was down 11.1% compared to the same quarter last year. As a group, analysts predict that Playa Hotels & Resorts will post 0.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PLYA shares. Oppenheimer downgraded Playa Hotels & Resorts from an "outperform" rating to a "market perform" rating in a research report on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft downgraded shares of Playa Hotels & Resorts from a "buy" rating to a "hold" rating and decreased their target price for the company from $15.00 to $13.50 in a research note on Tuesday, February 11th. Finally, Macquarie reissued a "neutral" rating and set a $13.50 price target on shares of Playa Hotels & Resorts in a research report on Tuesday, May 6th. 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 $12.00.

Playa Hotels & Resorts Profile

Playa Hotels & Resorts NV engages in the operation of hotels and resorts. The firm operates through the following geographical segments: 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.