Despegar.com (NYSE:DESP) Stock Price Up 6.5%

Shares of Despegar.com, Corp. (NYSE:DESP) traded up 6.5% during trading on Monday . The stock traded as high as $10.98 and last traded at $10.96. 435,161 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 920,776 shares. The stock had previously closed at $10.29.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. B. Riley upped their price objective on shares of Despegar.com from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $17.00 target price on shares of Despegar.com in a research note on Friday. Finally, Citigroup increased their price target on shares of Despegar.com from $14.50 to $15.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd.

Despegar.com Trading Up 6.9 %

The business’s fifty day simple moving average is $12.48 and its 200 day simple moving average is $11.85.

Despegar.com (NYSE:DESP) last announced its quarterly earnings data on Thursday, May 16th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.06. Despegar.com had a negative return on equity of 44.06% and a net margin of 5.41%. The business had revenue of $173.66 million during the quarter, compared to analysts’ expectations of $172.23 million. Equities analysts forecast that Despegar.com, Corp. will post 0.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Despegar.com

Several institutional investors have recently modified their holdings of DESP. Sylebra Capital LLC raised its position in shares of Despegar.com by 72.5% in the 2nd quarter. Sylebra Capital LLC now owns 2,923,275 shares of the company’s stock valued at $38,675,000 after acquiring an additional 1,228,824 shares during the period. SkyView Investment Advisors LLC increased its stake in Despegar.com by 4.6% in the second quarter. SkyView Investment Advisors LLC now owns 243,335 shares of the company’s stock valued at $3,219,000 after purchasing an additional 10,756 shares in the last quarter. Susquehanna Fundamental Investments LLC raised its holdings in Despegar.com by 163.0% in the second quarter. Susquehanna Fundamental Investments LLC now owns 84,455 shares of the company’s stock worth $1,117,000 after purchasing an additional 52,345 shares during the period. The Manufacturers Life Insurance Company bought a new position in shares of Despegar.com during the second quarter worth $298,000. Finally, Maverick Capital Ltd. acquired a new position in shares of Despegar.com in the 2nd quarter valued at $1,309,000. 67.93% of the stock is currently owned by institutional investors and hedge funds.

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.