Envestnet Asset Management Inc. Buys Shares of 22,876 Despegar.com, Corp. (NYSE:DESP)

Envestnet Asset Management Inc. acquired a new stake in Despegar.com, Corp. (NYSE:DESP - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 22,876 shares of the company's stock, valued at approximately $440,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd acquired a new position in Despegar.com during the fourth quarter worth $68,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Despegar.com during the fourth quarter worth approximately $104,000. OLD Mission Capital LLC bought a new stake in Despegar.com in the fourth quarter valued at approximately $221,000. Channing Global Advisors LLC bought a new position in shares of Despegar.com during the 4th quarter worth approximately $406,000. Finally, HighTower Advisors LLC increased its holdings in shares of Despegar.com by 107.0% in the fourth quarter. HighTower Advisors LLC now owns 22,121 shares of the company's stock valued at $426,000 after purchasing an additional 11,434 shares during the last quarter. 67.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, B. Riley lowered shares of Despegar.com from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Three 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, Despegar.com has a consensus rating of "Hold" and an average target price of $17.20.

Despegar.com Stock Up 0.1 %

DESP traded up $0.01 during midday trading on Friday, hitting $19.46. The company had a trading volume of 376,547 shares, compared to its average volume of 1,619,125. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -648.67, a PEG ratio of 0.91 and a beta of 1.61. The stock's 50 day moving average price is $19.17 and its 200 day moving average price is $18.27. Despegar.com, Corp. has a 52 week low of $9.25 and a 52 week high of $19.55.

Despegar.com (NYSE:DESP - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.61). The firm had revenue of $210.30 million for 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%. The firm's revenue for the quarter was up 8.7% compared to the same quarter last year. Research analysts predict that Despegar.com, Corp. will post 0.87 EPS for the current 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.