Despegar.com (NYSE:DESP) released its quarterly earnings results on Thursday. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01), MarketWatch Earnings reports. Despegar.com had a net margin of 3.61% and a return on equity of 7.37%. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $128.90 million. During the same quarter in the previous year, the firm posted $0.24 earnings per share. The firm’s quarterly revenue was up 797.2% on a year-over-year basis.
Shares of NYSE DESP traded down $0.34 during midday trading on Thursday, reaching $13.83. The company’s stock had a trading volume of 6,161 shares, compared to its average volume of 349,035. Despegar.com has a fifty-two week low of $11.11 and a fifty-two week high of $28.69. The company has a market cap of $980.03 million, a price-to-earnings ratio of 51.22 and a beta of 1.01.
Separately, Zacks Investment Research downgraded shares of Despegar.com from a “hold” rating to a “sell” rating in a research report on Tuesday, January 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $23.50.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in DESP. Bank of Montreal Can raised its position in Despegar.com by 1,680.3% during the first quarter. Bank of Montreal Can now owns 899,062 shares of the company’s stock valued at $13,396,000 after purchasing an additional 848,561 shares in the last quarter. Brown Advisory Inc. raised its position in Despegar.com by 177.8% during the fourth quarter. Brown Advisory Inc. now owns 1,324,520 shares of the company’s stock valued at $16,436,000 after purchasing an additional 847,663 shares in the last quarter. Pekin Singer Strauss Asset Management IL acquired a new position in Despegar.com during the fourth quarter valued at approximately $4,916,000. 683 Capital Management LLC acquired a new position in Despegar.com during the fourth quarter valued at approximately $4,344,000. Finally, Sapience Investments LLC raised its position in Despegar.com by 84.7% during the fourth quarter. Sapience Investments LLC now owns 683,960 shares of the company’s stock valued at $8,488,000 after purchasing an additional 313,660 shares in the last quarter. Institutional investors own 50.83% of the company’s stock.
Despegar.com Corp. provides online travel agency services. It offers tours and corporate packages to destinations such as Paris, Cancun, Rio de Janeiro, Rome, Barcelona, and Las Vegas, as well as vehicle rentals and hotel bookings. The company was founded by Roberto Hernán Souviron, Federico Fuchs, Martín Rastellino, Ernesto Cadeiras and Christian Vilate in December 1999 and is headquartered in Buenos Aires, Argentina.
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