Mackenzie Financial Corp Invests $259,000 in Despegar.com, Corp. (NYSE:DESP)

Mackenzie Financial Corp bought a new stake in Despegar.com, Corp. (NYSE:DESP) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 36,840 shares of the company’s stock, valued at approximately $259,000. Mackenzie Financial Corp owned 0.06% of Despegar.com as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SkyView Investment Advisors LLC purchased a new stake in shares of Despegar.com in the 1st quarter worth about $1,496,000. JPMorgan Chase & Co. boosted its stake in Despegar.com by 4.1% during the first quarter. JPMorgan Chase & Co. now owns 415,868 shares of the company’s stock worth $2,553,000 after acquiring an additional 16,209 shares in the last quarter. KB Financial Partners LLC bought a new position in shares of Despegar.com during the first quarter valued at approximately $1,141,000. Moerus Capital Management LLC increased its stake 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 valued at $28,039,000 after purchasing an additional 909,690 shares in the last quarter. Finally, Susquehanna International Group LLP bought a new stake in shares of Despegar.com in the 1st quarter worth approximately $255,000. 57.48% of the stock is owned by hedge funds and other institutional investors.

Despegar.com Stock Down 4.8 %

Shares of DESP opened at $6.99 on Thursday. The company has a market capitalization of $461.76 million, a P/E ratio of -19.42 and a beta of 2.01. Despegar.com, Corp. has a twelve month low of $4.44 and a twelve month high of $9.45. The firm has a 50 day moving average of $7.12 and a 200 day moving average of $6.97.

Despegar.com (NYSE:DESP) last posted its earnings results on Thursday, August 17th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The business had revenue of $165.52 million during the quarter, compared to the consensus estimate of $160.50 million. On average, sell-side analysts expect that Despegar.com, Corp. will post 0.46 EPS for the current year.

Wall Street Analyst Weigh In

DESP has been the subject of a number of recent research reports. B. Riley lifted their price objective on Despegar.com from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Friday, August 18th. Morgan Stanley raised Despegar.com from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $6.50 to $13.00 in a research report on Friday, August 11th.

Despegar.com Profile

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.