Invesco Ltd. boosted its holdings in Despegar.com, Corp. (NYSE:DESP - Free Report) by 554.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 497,861 shares of the company's stock after purchasing an additional 421,826 shares during the quarter. Invesco Ltd. owned about 0.60% of Despegar.com worth $9,584,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the company. Harvest Fund Management Co. Ltd purchased a new stake in shares of Despegar.com during the fourth quarter worth approximately $68,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Despegar.com in the fourth quarter worth $104,000. OLD Mission Capital LLC purchased a new position in Despegar.com in the fourth quarter worth $221,000. Cerity Partners LLC purchased a new position in Despegar.com in the fourth quarter worth $269,000. Finally, Channing Global Advisors LLC purchased a new position in Despegar.com in the fourth quarter worth $406,000. 67.93% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, B. Riley cut Despegar.com from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Despegar.com has an average rating of "Hold" and an average target price of $17.20.
Check Out Our Latest Report on DESP
Despegar.com Stock Performance
Shares of DESP traded down $0.01 on Tuesday, hitting $19.43. 329,658 shares of the stock traded hands, compared to its average volume of 1,583,463. The stock's 50 day moving average is $19.14 and its two-hundred day moving average is $18.01. Despegar.com, Corp. has a 1 year low of $9.25 and a 1 year high of $19.55.
Despegar.com (NYSE:DESP - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.15). The business had revenue of $210.30 million during the quarter, compared to analyst estimates of $212.40 million. Despegar.com had a negative return on equity of 58.97% and a net margin of 4.45%. Despegar.com's quarterly revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts predict that Despegar.com, Corp. will post 0.87 EPS for the current year.
Despegar.com Company Profile
(
Free Report)
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.
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