Despegar.com, Corp. (NYSE:DESP) Short Interest Down 20.8% in April

Despegar.com, Corp. (NYSE:DESP – Get Rating) was the recipient of a large decrease in short interest in April. As of April 30th, there was short interest totalling 606,400 shares, a decrease of 20.8% from the April 15th total of 765,400 shares. Based on an average trading volume of 285,500 shares, the short-interest ratio is presently 2.1 days. Approximately 1.0% of the company’s stock are sold short.

DESP stock opened at $8.99 on Monday. The company has a market cap of $640.50 million, a P/E ratio of -5.62 and a beta of 2.06. Despegar.com has a 1 year low of $7.97 and a 1 year high of $15.09. The stock’s fifty day moving average price is $11.21 and its 200-day moving average price is $10.90.

Despegar.com (NYSE:DESP – Get Rating) last released its quarterly earnings results on Thursday, March 10th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.06). The firm had revenue of $124.56 million during the quarter, compared to analysts’ expectations of $109.01 million. Despegar.com had a negative return on equity of 1,941.11% and a negative net margin of 31.79%. During the same quarter last year, the business earned ($0.24) earnings per share. Sell-side analysts expect that Despegar.com will post -0.27 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley lifted its position in Despegar.com by 84.4% during the second quarter. Morgan Stanley now owns 752,215 shares of the company’s stock valued at $9,937,000 after purchasing an additional 344,276 shares in the last quarter. BlackRock Inc. lifted its position in Despegar.com by 2.5% during the third quarter. BlackRock Inc. now owns 1,108,342 shares of the company’s stock valued at $13,333,000 after purchasing an additional 26,903 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Despegar.com by 25.0% during the third quarter. Alliancebernstein L.P. now owns 2,279,547 shares of the company’s stock valued at $27,423,000 after acquiring an additional 456,560 shares during the period. Handelsbanken Fonder AB raised its holdings in Despegar.com by 233.8% during the third quarter. Handelsbanken Fonder AB now owns 67,100 shares of the company’s stock valued at $807,000 after acquiring an additional 47,000 shares during the period. Finally, US Bancorp DE bought a new stake in Despegar.com during the third quarter valued at about $35,000. Hedge funds and other institutional investors own 55.92% of the company’s stock.

Several brokerages have recently issued reports on DESP. Citigroup raised Despegar.com from a “neutral” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Tuesday, January 25th. Zacks Investment Research raised Despegar.com from a “sell” rating to a “hold” rating in a research report on Friday, March 11th. Finally, KeyCorp reduced their price objective on Despegar.com from $23.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, January 20th.

About Despegar.com (Get Rating)

Despegar.com, Corp., online travel company, provides a range of travel and travel-related products through its websites and mobile applications in Latin America. The company operates through two segments, Air; and Packages, Hotels and Other Travel Products. The company offers airline tickets; travel packages, hotel rooms, car rentals, bus tickets, cruise tickets, travel insurance, destination services, and other travel-related products, which enable consumers to find, compare, plan, and purchase travel products through its marketplace.

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