Lazard Asset Management LLC Grows Position in Despegar.com, Corp. (NYSE:DESP)

Lazard Asset Management LLC raised its stake in Despegar.com, Corp. (NYSE:DESP - Free Report) by 35.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 122,090 shares of the company's stock after buying an additional 31,750 shares during the quarter. Lazard Asset Management LLC owned about 0.15% of Despegar.com worth $2,350,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of DESP. Sterling Capital Management LLC lifted its position in Despegar.com by 756.8% in the fourth quarter. Sterling Capital Management LLC now owns 1,705 shares of the company's stock valued at $33,000 after buying an additional 1,506 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Despegar.com in the fourth quarter valued at about $68,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Despegar.com in the fourth quarter valued at about $104,000. Quinn Opportunity Partners LLC acquired a new position in Despegar.com in the fourth quarter valued at about $194,000. Finally, OLD Mission Capital LLC acquired a new position in Despegar.com in the fourth quarter valued at about $221,000. Institutional investors and hedge funds own 67.93% of the company's stock.

Despegar.com Price Performance

Shares of DESP remained flat at $19.50 during mid-day trading on Friday. The stock has a market cap of $1.63 billion, a P/E ratio of -650.00, a P/E/G ratio of 0.91 and a beta of 1.61. Despegar.com, Corp. has a 52-week low of $9.25 and a 52-week high of $19.55. The firm has a 50-day simple moving average of $19.22 and a two-hundred day simple moving average of $18.64.

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

Wall Street Analysts Forecast Growth

Separately, B. Riley cut 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 assigned a buy rating to the company. Based on data from MarketBeat, Despegar.com currently has an average rating of "Hold" and a consensus price target of $16.75.

About Despegar.com

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.