Mirae Asset Global Investments Co. Ltd. bought a new position in Despegar.com Corp (NYSE:DESP) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 63,164 shares of the company’s stock, valued at approximately $1,066,000. Mirae Asset Global Investments Co. Ltd. owned 0.09% of Despegar.com as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. boosted its position in Despegar.com by 140.0% during the third quarter. PNC Financial Services Group Inc. now owns 6,066 shares of the company’s stock valued at $102,000 after purchasing an additional 3,538 shares during the last quarter. Bank of America Corp DE acquired a new stake in Despegar.com during the second quarter valued at $173,000. Cubist Systematic Strategies LLC acquired a new stake in Despegar.com during the second quarter valued at $270,000. Krane Funds Advisors LLC acquired a new stake in Despegar.com during the second quarter valued at $338,000. Finally, Albert D Mason Inc. boosted its position in Despegar.com by 39.3% during the third quarter. Albert D Mason Inc. now owns 26,565 shares of the company’s stock valued at $448,000 after purchasing an additional 7,490 shares during the last quarter. 66.55% of the stock is owned by institutional investors and hedge funds.
Separately, Zacks Investment Research raised Despegar.com from a “sell” rating to a “hold” rating in a research report on Tuesday, September 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $29.14.
Despegar.com (NYSE:DESP) last released its earnings results on Thursday, November 8th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.15). Despegar.com had a return on equity of 11.28% and a net margin of 5.25%. The firm had revenue of $121.25 million for the quarter, compared to analyst estimates of $123.77 million. During the same period last year, the business earned $0.21 earnings per share. The firm’s quarterly revenue was down 8.7% compared to the same quarter last year. On average, research analysts predict that Despegar.com Corp will post 0.36 EPS for the current fiscal year.
Despegar.com, Corp., an online travel company, provides a range of travel and travel-related products through its Websites and mobile applications in Latin America. It operates through two segments, Air; and Packages, Hotels and Other Travel Products. The company offers airline tickets, packages, hotels, and other travel-related products under the Despegar and Decolar brands, which enable consumers to find, compare, plan, and purchase travel products through its marketplace.
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