KB Financial Partners LLC acquired a new position in shares of Despegar.com, Corp. (NYSE:DESP – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 185,909 shares of the company’s stock, valued at approximately $1,141,000. Despegar.com makes up about 0.3% of KB Financial Partners LLC’s investment portfolio, making the stock its 25th biggest position. KB Financial Partners LLC owned about 0.28% of Despegar.com at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. Medina Value Partners LLC bought a new stake in Despegar.com during the 4th quarter valued at $7,193,000. Neuberger Berman Group LLC grew its holdings in shares of Despegar.com by 32.2% during the third quarter. Neuberger Berman Group LLC now owns 3,983,009 shares of the company’s stock valued at $22,704,000 after buying an additional 970,051 shares during the last quarter. Moerus Capital Management LLC increased its position in shares of Despegar.com by 24.9% during the first quarter. Moerus Capital Management LLC now owns 4,566,654 shares of the company’s stock worth $28,039,000 after acquiring an additional 909,690 shares in the last quarter. Norges Bank acquired a new stake in shares of Despegar.com in the 4th quarter worth about $3,591,000. Finally, Millennium Management LLC lifted its position in Despegar.com by 197.3% in the 4th quarter. Millennium Management LLC now owns 859,224 shares of the company’s stock valued at $4,408,000 after acquiring an additional 570,243 shares in the last quarter. 57.48% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have commented on the company. Morgan Stanley raised Despegar.com from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $6.50 to $13.00 in a report on Friday, August 11th. B. Riley upped their price target on Despegar.com from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Friday, August 18th.
Despegar.com Stock Performance
NYSE:DESP opened at $7.81 on Wednesday. Despegar.com, Corp. has a 52 week low of $4.44 and a 52 week high of $9.45. The firm has a 50-day moving average price of $7.67 and a two-hundred day moving average price of $6.65. The firm has a market cap of $515.93 million, a price-to-earnings ratio of -21.69 and a beta of 1.97.
Despegar.com (NYSE:DESP – Get Free Report) last issued its quarterly earnings results on Thursday, August 17th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The business had revenue of $165.52 million for the quarter, compared to analysts’ expectations of $160.50 million. As a group, sell-side analysts forecast that Despegar.com, Corp. will post 0.29 earnings per share for the current year.
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.
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