Notable Stock News to Watch: Playa Hotels & Resorts N.V. (NASDAQ:PLYA) announces an underwritten public offering

Playa Hotels & Resorts N.V. (NASDAQ:PLYA) spotted trading -29.56% off 52-week high price. On the other end, the stock has been noted 330.77% away from the low price over the last 52-weeks. The stock changed 5.46% to recent value of $5.6. The stock transacted 1245182 shares during most recent day however it has an average volume of 1.61M shares. The company has 134.49M of outstanding shares and 91.86M shares were floated in the market.

On Jan. 6, 2021, Playa Hotels & Resorts N.V. (NASDAQ:PLYA) released that it had commenced an underwritten public offering of 35,000,000 of its Ordinary Shares, consisting of 25,000,000 Ordinary Shares offered by Playa and 10,000,000 Ordinary Shares offered by a selling shareholder. Playa and the selling shareholder also plan to grant the underwriters an option to purchase up to an additional 3,750,000 Ordinary Shares from Playa and up to an additional 1,499,000 Ordinary Shares from the selling shareholder, respectively.

Playa intends to use the net proceeds from the offering to repay the amount outstanding under its revolving credit facility and for general corporate purposes. Playa will not receive any proceeds from the sale of Ordinary Shares by the selling shareholder, a fund affiliated with Sagicor Group Jamaica Limited.

Its earnings per share (EPS) expected to touch remained -121.60% for this year while earning per share for the next 5-years is expected to reach at 15.48%. PLYA has a gross margin of 28.00% and an operating margin of -43.20% while its profit margin remained -58.90% for the last 12 months.

The price moved ahead of 4.45% from the mean of 20 days, 15.16% from mean of 50 days SMA and performed 50.53% from mean of 200 days price. Company’s performance for the week was 2.00%, 1.82% for month and YTD performance remained -5.88%.

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