98,977 Shares in Despegar.com, Corp. (NYSE:DESP) Bought by Maverick Capital Ltd.

Maverick Capital Ltd. bought a new stake in Despegar.com, Corp. (NYSE:DESP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 98,977 shares of the company’s stock, valued at approximately $1,309,000. Maverick Capital Ltd. owned about 0.15% of Despegar.com as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Itau Unibanco Holding S.A. grew its stake in Despegar.com by 107.0% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 2,072,713 shares of the company’s stock valued at $26,446,000 after acquiring an additional 1,071,213 shares during the last quarter. Sylebra Capital LLC raised its position in Despegar.com by 236.2% during the first quarter. Sylebra Capital LLC now owns 1,694,451 shares of the company’s stock worth $20,266,000 after acquiring an additional 1,190,463 shares during the last quarter. Coronation Fund Managers Ltd. purchased a new stake in shares of Despegar.com in the second quarter valued at about $15,680,000. MayTech Global Investments LLC acquired a new stake in shares of Despegar.com in the second quarter valued at approximately $11,836,000. Finally, Norges Bank purchased a new position in shares of Despegar.com during the 4th quarter worth approximately $6,622,000. Hedge funds and other institutional investors own 67.93% of the company’s stock.

Despegar.com Price Performance

Shares of DESP opened at $12.71 on Friday. Despegar.com, Corp. has a 1 year low of $6.09 and a 1 year high of $15.82. The company’s 50 day simple moving average is $11.66 and its 200 day simple moving average is $12.50.

Despegar.com (NYSE:DESP) last issued its quarterly earnings results on Thursday, August 15th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. The company had revenue of $185.05 million for the quarter, compared to analyst estimates of $184.35 million. Despegar.com had a negative return on equity of 62.18% and a net margin of 3.30%. Sell-side analysts predict that Despegar.com, Corp. will post 0.75 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on DESP shares. TD Cowen upped their target price on Despegar.com from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Citigroup boosted their price target on Despegar.com from $14.50 to $15.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $17.00 price objective on shares of Despegar.com in a research note on Friday, August 16th.

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.