Despegar.com (DESP) Trading Up 5%

Despegar.com Corp (NYSE:DESP)’s share price was up 5% during trading on Monday . The stock traded as high as $17.14 and last traded at $17.10. Approximately 519,681 shares were traded during mid-day trading, an increase of 33% from the average daily volume of 390,442 shares. The stock had previously closed at $16.28.

A number of research analysts have issued reports on the stock. KeyCorp assumed coverage on shares of Despegar.com in a report on Tuesday, December 18th. They issued a “sector weight” rating for the company. Zacks Investment Research lowered Despegar.com from a “hold” rating to a “sell” rating in a research note on Tuesday, January 29th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $28.00.

The firm has a market capitalization of $1.13 billion, a PE ratio of 24.78 and a beta of 0.91.

Despegar.com (NYSE:DESP) last released its quarterly earnings data on Thursday, November 8th. The company reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.15). The company had revenue of $121.25 million for the quarter, compared to analysts’ expectations of $123.77 million. Despegar.com had a net margin of 5.25% and a return on equity of 11.28%. The business’s quarterly revenue was down 8.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.21 EPS. Equities analysts anticipate that Despegar.com Corp will post 0.3 EPS for the current year.

Several institutional investors have recently bought and sold shares of the company. Legal & General Group Plc purchased a new stake in shares of Despegar.com during the third quarter worth $83,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Despegar.com in the third quarter valued at approximately $102,000. PNC Financial Services Group Inc. grew its holdings in Despegar.com by 140.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,066 shares of the company’s stock valued at $102,000 after buying an additional 3,538 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in Despegar.com in the 4th quarter valued at $94,000. Finally, Bank of America Corp DE purchased a new stake in Despegar.com in the 2nd quarter valued at $173,000. Institutional investors and hedge funds own 66.45% of the company’s stock.

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About Despegar.com (NYSE:DESP)

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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