Yarra Square Partners LP Has $5.87 Million Stake in Despegar.com, Corp. (NYSE:DESP)

Yarra Square Partners LP raised its holdings in shares of Despegar.com, Corp. (NYSE:DESP) by 15.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 443,400 shares of the company’s stock after purchasing an additional 58,400 shares during the quarter. Despegar.com accounts for approximately 5.3% of Yarra Square Partners LP’s portfolio, making the stock its 8th largest position. Yarra Square Partners LP owned about 0.67% of Despegar.com worth $5,866,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of DESP. BNP Paribas Financial Markets boosted its holdings in Despegar.com by 405,440.0% during the 4th quarter. BNP Paribas Financial Markets now owns 121,662 shares of the company’s stock worth $1,151,000 after acquiring an additional 121,632 shares during the last quarter. Norges Bank purchased a new position in Despegar.com during the 4th quarter worth $6,622,000. Dynamic Technology Lab Private Ltd boosted its holdings in Despegar.com by 117.3% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 29,739 shares of the company’s stock worth $281,000 after acquiring an additional 16,054 shares during the last quarter. Artisan Partners Limited Partnership boosted its holdings in Despegar.com by 6.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,933,450 shares of the company’s stock worth $18,290,000 after acquiring an additional 125,288 shares during the last quarter. Finally, Banco BTG Pactual S.A. purchased a new position in Despegar.com during the 4th quarter worth $194,000. Institutional investors own 67.93% of the company’s stock.

Analysts Set New Price Targets

DESP has been the topic of a number of analyst reports. TD Cowen lifted their price objective on shares of Despegar.com from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $17.00 price objective on shares of Despegar.com in a report on Friday, August 16th. Finally, Citigroup boosted their price target on shares of Despegar.com from $14.50 to $15.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd.

Despegar.com Price Performance

Shares of NYSE:DESP opened at $12.48 on Friday. Despegar.com, Corp. has a fifty-two week low of $6.09 and a fifty-two week high of $15.82. The company’s 50-day moving average is $11.75 and its 200 day moving average is $12.41.

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

Despegar.com 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.