Yarra Square Partners LP Buys Shares of 385,000 Despegar.com, Corp. (NYSE:DESP)

Yarra Square Partners LP purchased a new position in shares of Despegar.com, Corp. (NYSE:DESP) during the first quarter, Holdings Channel.com reports. The fund purchased 385,000 shares of the company’s stock, valued at approximately $4,605,000. Despegar.com accounts for 4.0% of Yarra Square Partners LP’s holdings, making the stock its 12th largest position.

Several other hedge funds have also made changes to their positions in the stock. Wealthsource Partners LLC raised its holdings in shares of Despegar.com by 1.9% during the fourth quarter. Wealthsource Partners LLC now owns 59,799 shares of the company’s stock valued at $566,000 after buying an additional 1,122 shares during the last quarter. Quantbot Technologies LP increased its position in Despegar.com by 4.8% in the 1st quarter. Quantbot Technologies LP now owns 31,462 shares of the company’s stock valued at $376,000 after acquiring an additional 1,452 shares during the period. Tower Research Capital LLC TRC raised its stake in Despegar.com by 83.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,617 shares of the company’s stock valued at $44,000 after acquiring an additional 2,104 shares in the last quarter. Altfest L J & Co. Inc. boosted its position in Despegar.com by 4.7% during the 1st quarter. Altfest L J & Co. Inc. now owns 48,505 shares of the company’s stock worth $580,000 after acquiring an additional 2,179 shares during the period. Finally, Activest Wealth Management bought a new position in shares of Despegar.com in the first quarter worth $39,000. Institutional investors own 67.93% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DESP. Cantor Fitzgerald lifted their price objective on shares of Despegar.com from $14.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. Citigroup reaffirmed a “neutral” rating and issued a $14.50 price target (up from $11.50) on shares of Despegar.com in a research note on Monday, April 29th. Finally, B. Riley raised their price objective on shares of Despegar.com from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, May 17th.

Despegar.com Stock Performance

Shares of DESP traded up $0.03 during mid-day trading on Friday, hitting $13.58. The company’s stock had a trading volume of 627,903 shares, compared to its average volume of 883,310. The firm has a 50-day moving average price of $13.74 and a 200 day moving average price of $11.43. Despegar.com, Corp. has a fifty-two week low of $6.09 and a fifty-two week high of $15.82.

Despegar.com (NYSE:DESP) last posted its quarterly earnings results on Thursday, May 16th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.06. The company had revenue of $173.66 million for the quarter, compared to analysts’ expectations of $172.23 million. Despegar.com had a negative return on equity of 44.06% and a net margin of 5.41%. Equities research analysts anticipate that Despegar.com, Corp. will post 0.83 EPS for the current fiscal year.

Despegar.com Profile

Despegar.com, Corp., an online travel company, provides a range of travel and travel-related products to leisure and corporate travelers through its websites and mobile applications in Latin America and the United States. The company operates in two segments, Travel Business and Financial Services Business.