Manning & Napier Group LLC boosted its position in shares of Despegar.com Corp (NYSE:DESP) by 14.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 462,670 shares of the company’s stock after purchasing an additional 57,499 shares during the period. Manning & Napier Group LLC owned approximately 0.67% of Despegar.com worth $7,804,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DESP. Bank of America Corp DE acquired a new position in Despegar.com during the 2nd quarter worth $173,000. Jane Street Group LLC acquired a new position in Despegar.com during the 1st quarter worth $227,000. GSA Capital Partners LLP acquired a new position in Despegar.com during the 1st quarter worth $243,000. Cubist Systematic Strategies LLC acquired a new position in Despegar.com during the 2nd quarter worth $270,000. Finally, Barclays PLC acquired a new position in Despegar.com during the 1st quarter worth $292,000. 75.48% of the stock is owned by institutional investors and hedge funds.
Despegar.com stock opened at $15.51 on Friday. Despegar.com Corp has a 1 year low of $14.80 and a 1 year high of $36.56. The stock has a market capitalization of $1.17 billion and a PE ratio of 22.16.
Despegar.com (NYSE:DESP) last posted its quarterly earnings results on Thursday, August 16th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.02). Despegar.com had a return on equity of 17.07% and a net margin of 7.45%. The business had revenue of $128.30 million during the quarter, compared to the consensus estimate of $133.55 million. During the same quarter in the previous year, the business posted $0.06 earnings per share. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, research analysts anticipate that Despegar.com Corp will post 0.62 earnings per share for the current year.
Several research analysts have weighed in on DESP shares. Cowen reissued a “buy” rating and set a $20.00 price objective on shares of Despegar.com in a report on Friday, August 17th. KeyCorp decreased their price objective on shares of Despegar.com from $30.00 to $27.00 and set a “buy” rating for the company in a report on Friday, August 17th. Morgan Stanley decreased their price objective on shares of Despegar.com from $31.00 to $24.00 and set an “equal weight” rating for the company in a report on Friday, July 20th. Zacks Investment Research raised shares of Despegar.com from a “sell” rating to a “hold” rating in a report on Monday, June 18th. Finally, Citigroup decreased their price objective on shares of Despegar.com from $28.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $29.14.
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.
Further Reading: Risk Tolerance
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