Despegar.com (DESP) Trading Down 7.9%

Despegar.com Corp (NYSE:DESP)’s share price dropped 7.9% during mid-day trading on Friday . The company traded as low as $12.73 and last traded at $12.75. Approximately 1,013,352 shares were traded during trading, an increase of 181% from the average daily volume of 361,255 shares. The stock had previously closed at $13.84.

Separately, Zacks Investment Research lowered shares of Despegar.com from a “hold” rating to a “sell” rating in a research report on Tuesday, February 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $23.50.

The stock has a market capitalization of $964.11 million, a PE ratio of 47.22 and a beta of 1.01. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.78 and a current ratio of 1.78.

Despegar.com (NYSE:DESP) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.01). The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $128.90 million. Despegar.com had a net margin of 0.91% and a return on equity of 1.84%. The company’s quarterly revenue was up 797.2% compared to the same quarter last year. During the same period last year, the firm earned $0.24 EPS. Equities analysts predict that Despegar.com Corp will post -0.24 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in DESP. Legal & General Group Plc bought a new stake in Despegar.com in the 3rd quarter valued at $83,000. Quantamental Technologies LLC bought a new stake in Despegar.com in the 4th quarter valued at $94,000. BlueMountain Capital Management LLC increased its holdings in Despegar.com by 51.3% in the 1st quarter. BlueMountain Capital Management LLC now owns 6,610 shares of the company’s stock valued at $98,000 after buying an additional 2,240 shares during the period. Marshall Wace North America L.P. bought a new stake in Despegar.com in the 1st quarter valued at $112,000. Finally, Bank of America Corp DE increased its holdings in Despegar.com by 52.6% in the 4th quarter. Bank of America Corp DE now owns 9,351 shares of the company’s stock valued at $116,000 after buying an additional 3,224 shares during the period. 50.83% of the stock is currently owned by hedge funds and other institutional investors.

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Despegar.com Company Profile (NYSE:DESP)

Despegar.com Corp. provides online travel agency services. It offers tours and corporate packages to destinations such as Paris, Cancun, Rio de Janeiro, Rome, Barcelona, and Las Vegas, as well as vehicle rentals and hotel bookings. The company was founded by Roberto Hernán Souviron, Federico Fuchs, Martín Rastellino, Ernesto Cadeiras and Christian Vilate in December 1999 and is headquartered in Buenos Aires, Argentina.

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