Envestnet Asset Management Inc. Invests $440,000 in Despegar.com, Corp. (NYSE:DESP)

Envestnet Asset Management Inc. acquired a new stake in shares of Despegar.com, Corp. (NYSE:DESP - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 22,876 shares of the company's stock, valued at approximately $440,000.

Several other institutional investors have also bought and sold shares of the stock. Harvest Fund Management Co. Ltd bought a new position in Despegar.com during the fourth quarter valued at about $68,000. Principal Financial Group Inc. lifted its holdings in Despegar.com by 9.5% in the 4th quarter. Principal Financial Group Inc. now owns 52,162 shares of the company's stock valued at $1,004,000 after acquiring an additional 4,528 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Despegar.com by 16.6% during the 4th quarter. Franklin Resources Inc. now owns 36,534 shares of the company's stock valued at $703,000 after purchasing an additional 5,195 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Despegar.com in the 4th quarter worth approximately $104,000. Finally, Wells Fargo & Company MN raised its holdings in shares of Despegar.com by 20.5% in the 4th quarter. Wells Fargo & Company MN now owns 45,460 shares of the company's stock worth $875,000 after purchasing an additional 7,730 shares in the last quarter. Institutional investors and hedge funds own 67.93% of the company's stock.

Analyst Ratings Changes

Separately, B. Riley cut shares of Despegar.com from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $17.20.

Despegar.com Stock Performance

Shares of DESP stock traded down $0.01 during trading on Wednesday, hitting $19.45. 1,017,120 shares of the company were exchanged, compared to its average volume of 1,627,623. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of -648.33, a P/E/G ratio of 0.91 and a beta of 1.61. The business's 50-day simple moving average is $19.16 and its 200 day simple moving average is $18.23. Despegar.com, Corp. has a twelve month low of $9.25 and a twelve month high of $19.55.

Despegar.com (NYSE:DESP - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.42 by ($0.61). The company had revenue of $210.30 million for the quarter, compared to analysts' expectations of $212.40 million. Despegar.com had a net margin of 4.45% and a negative return on equity of 58.97%. The business's quarterly revenue was up 8.7% on a year-over-year basis. On average, equities analysts forecast that Despegar.com, Corp. will post 0.87 earnings per share for the current fiscal year.

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.