Despegar.com (NYSE:DESP) Trading Down 5.7%

Despegar.com, Corp. (NYSE:DESP)’s share price dropped 5.7% during trading on Wednesday . The company traded as low as $12.37 and last traded at $12.43. Approximately 238,421 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 792,206 shares. The stock had previously closed at $13.18.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Cantor Fitzgerald increased their target price on Despegar.com from $14.00 to $17.00 and gave the company an “overweight” rating in a research report on Friday, May 17th. Citigroup reiterated a “neutral” rating and issued a $14.50 target price (up previously from $11.50) on shares of Despegar.com in a research report on Monday, April 29th. Finally, B. Riley upped their price target on shares of Despegar.com from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, May 17th.

Despegar.com Trading Up 5.4 %

The firm’s 50 day simple moving average is $13.55 and its 200-day simple moving average is $11.13.

Despegar.com (NYSE:DESP) last released its earnings results on Thursday, May 16th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.06. The business had revenue of $173.66 million for the quarter, compared to analyst estimates of $172.23 million. Despegar.com had a net margin of 5.41% and a negative return on equity of 44.06%. Sell-side analysts forecast that Despegar.com, Corp. will post 0.83 earnings per share for the current year.

Institutional Trading of Despegar.com

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Activest Wealth Management purchased a new stake in shares of Despegar.com in the first quarter valued at about $39,000. Tucker Asset Management LLC purchased a new stake in shares of Despegar.com in the 4th quarter valued at approximately $40,000. Tower Research Capital LLC TRC increased its holdings in shares of Despegar.com by 83.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,617 shares of the company’s stock worth $44,000 after buying an additional 2,104 shares during the last quarter. Hood River Capital Management LLC purchased a new stake in shares of Despegar.com during the 1st quarter valued at approximately $101,000. Finally, Adalta Capital Management LLC acquired a new position in Despegar.com in the first quarter valued at approximately $120,000. 67.93% of the stock is owned by institutional investors and hedge funds.

Despegar.com Company Profile

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.