Magnetar Financial LLC Invests $220,000 in Despegar.com, Corp. (NYSE:DESP)

Magnetar Financial LLC bought a new stake in Despegar.com, Corp. (NYSE:DESP) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 16,626 shares of the company’s stock, valued at approximately $220,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Amalgamated Bank acquired a new stake in Despegar.com in the 2nd quarter valued at about $28,000. Tucker Asset Management LLC purchased a new stake in shares of Despegar.com in the fourth quarter valued at approximately $40,000. LRI Investments LLC acquired a new stake in shares of Despegar.com in the second quarter valued at approximately $87,000. Hood River Capital Management LLC purchased a new position in Despegar.com during the first quarter worth approximately $101,000. Finally, Adalta Capital Management LLC acquired a new position in Despegar.com during the first quarter worth $120,000. 67.93% of the stock is owned by hedge funds and other institutional investors.

Despegar.com Stock Performance

Shares of DESP opened at $12.38 on Thursday. The company’s 50-day moving average price is $11.66 and its 200 day moving average price is $12.48. Despegar.com, Corp. has a 12-month low of $6.09 and a 12-month high of $15.82.

Despegar.com (NYSE:DESP) last released its quarterly earnings results on Thursday, August 15th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.12. The business had revenue of $185.05 million for the quarter, compared to the consensus estimate of $184.35 million. Despegar.com had a net margin of 3.30% and a negative return on equity of 62.18%. On average, analysts forecast that Despegar.com, Corp. will post 0.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

DESP has been the subject of a number of recent research reports. TD Cowen raised their target price on Despegar.com from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Citigroup boosted their target price on shares of Despegar.com from $14.50 to $15.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $17.00 price target on shares of Despegar.com in a report on Friday, August 16th.

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.