BofA Securities downgrades Playa Hotels & Resorts N.V. (PLYA) rating to an Underperform


Playa Hotels & Resorts N.V.’s filing revealed that its 10% Owner DAVIDSON KEMPNER CAPITAL MANAG unloaded Company’s shares for reported $2.95 million on Aug 10. In the deal valued at $7.36 per share,400,000 shares were sold. As a result of this transaction, DAVIDSON KEMPNER CAPITAL MANAG now holds 14,742,519 shares worth roughly $ 110.72 million.

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Then, Peterson Karl Mr. sold 10,000 shares, generating $80,000 in total proceeds. Upon selling the shares at $8.00, the Director now owns 2,609,033 shares.

Before that, Peterson Karl Mr. sold 10,000 shares. Playa Hotels & Resorts N.V. shares valued at $82,300 were divested by the Director at a price of $8.23 per share. As a result of the transaction, Peterson Karl Mr. now holds 2,619,033 shares, worth roughly $19.67 million.

BofA Securities downgraded its Playa Hotels & Resorts N.V. [PLYA] rating to an Underperform from a a Buy in a research note published on Friday, June 26, 2023; the price target was decreased to $8 from $10. PT values the company’s stock at a premium of 6.13 to its Friday closing price.

Price Performance Review of PLYA

On Friday, Playa Hotels & Resorts N.V. [NASDAQ:PLYA] saw its stock jump 0.67% to $7.51. On the same session, the stock had its day’s lowest price of $7.49, but rose to a high of $7.585. Over the last five days, the stock has gained 2.60%. Playa Hotels & Resorts N.V. shares have risen nearly 15.01% since the year began. Nevertheless, the stocks have risen 14.48% over the past one year. While a 52-week high of $9.77 was reached on 05/03/23, a 52-week low of $5.34 was recorded on 01/03/23. SMA at 50 days reached $7.81, while 200 days put it at $7.96. A total of 0.64 million shares were traded, compared to the trading of 1.22 million shares in the previous session.

Levels Of Support And Resistance For PLYA Stock

The 24-hour chart illustrates a support level at 7.47, which if violated will result in even more drops to 7.43. On the upside, there is a resistance level at 7.57. A further resistance level may holdings at 7.62. The Relative Strength Index (RSI) on the 14-day chart is 47.38, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.12, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 34.15%. Stochastics %K at 68.02% indicates the stock is a holding.

How much short interest is there in Playa Hotels & Resorts N.V.?

A steep rise in short interest was recorded in Playa Hotels & Resorts N.V. stocks on Aug 14, 2023, growing by 0.63 million shares to a total of 3.82 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 3.19 million shares. There was a rise of 16.49%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.82% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.04.


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