Shares of Despegar.com, Corp. (NYSE:DESP – Get Free Report) were up 6.5% during mid-day trading on Monday . The company traded as high as $10.98 and last traded at $10.96. Approximately 435,161 shares traded hands during trading, a decline of 53% from the average daily volume of 920,776 shares. The stock had previously closed at $10.29.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on DESP shares. B. Riley raised their target price on shares of Despegar.com from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $17.00 price objective on shares of Despegar.com in a report on Friday. Finally, Citigroup upped their target price on Despegar.com from $14.50 to $15.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd.
Check Out Our Latest Report on Despegar.com
Despegar.com Price Performance
Despegar.com (NYSE:DESP – Get Free Report) last announced its earnings results on Thursday, May 16th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.06. Despegar.com had a negative return on equity of 44.06% and a net margin of 5.41%. The business had revenue of $173.66 million during the quarter, compared to analyst estimates of $172.23 million. Equities research analysts predict that Despegar.com, Corp. will post 0.83 earnings per share for the current year.
Hedge Funds Weigh In On Despegar.com
A number of hedge funds have recently made changes to their positions in the stock. Amalgamated Bank acquired a new stake in Despegar.com during the 2nd quarter valued at approximately $28,000. Activest Wealth Management bought a new position in Despegar.com during the first quarter worth $39,000. Tucker Asset Management LLC acquired a new position in Despegar.com in the fourth quarter valued at $40,000. Tower Research Capital LLC TRC boosted its position in Despegar.com by 83.7% during the fourth 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 during the last quarter. Finally, LRI Investments LLC acquired a new stake in Despegar.com during the 2nd quarter worth about $87,000. 67.93% of the stock is currently owned by institutional investors.
About Despegar.com
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.
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