BlackRock Inc. lifted its position in shares of Despegar.com Corp (NYSE:DESP) by 5,142.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 171,704 shares of the company’s stock after purchasing an additional 168,429 shares during the quarter. BlackRock Inc.’s holdings in Despegar.com were worth $3,600,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in DESP. Global Thematic Partners LLC bought a new stake in Despegar.com in the 2nd quarter valued at $15,290,000. Contrarius Investment Management Ltd bought a new stake in Despegar.com in the 2nd quarter valued at $10,287,000. Manning & Napier Group LLC bought a new stake in Despegar.com in the 2nd quarter valued at $8,495,000. Cohen Capital Management Inc. bought a new stake in Despegar.com in the 2nd quarter valued at $2,047,000. Finally, Bienville Capital Management LLC bought a new stake in Despegar.com in the 2nd quarter valued at $1,512,000. 76.80% of the stock is currently owned by institutional investors.
Shares of DESP stock opened at $15.73 on Friday. Despegar.com Corp has a 1 year low of $14.66 and a 1 year high of $36.56. The firm has a market capitalization of $1.15 billion and a price-to-earnings ratio of 22.80.
Despegar.com (NYSE:DESP) last issued its quarterly earnings results on Thursday, November 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.15). Despegar.com had a net margin of 7.45% and a return on equity of 17.07%. The business had revenue of $121.25 million during the quarter, compared to analyst estimates of $123.77 million. During the same quarter in the previous year, the firm posted $0.21 earnings per share. The firm’s quarterly revenue was down 8.7% on a year-over-year basis.
Several research firms recently commented on DESP. Morgan Stanley cut their price objective on shares of Despegar.com from $31.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Friday, July 20th. KeyCorp cut their price objective on shares of Despegar.com from $30.00 to $27.00 and set a “buy” rating on the stock in a research report on Friday, August 17th. UBS Group cut shares of Despegar.com from a “market perform” rating to an “underperform” rating in a research report on Friday, August 17th. Cowen reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Despegar.com in a research report on Friday, August 17th. Finally, Citigroup cut their price objective on shares of Despegar.com from $28.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $29.14.
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Despegar.com, Corp., an online travel company, provides a range of travel and travel-related products through its Websites and mobile applications in Latin America. It operates through two segments, Air; and Packages, Hotels and Other Travel Products. The company offers airline tickets, packages, hotels, and other travel-related products under the Despegar and Decolar brands, which enable consumers to find, compare, plan, and purchase travel products through its marketplace.
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