Despegar.com (NYSE:DESP) Shares Gap Down – Here’s Why

Despegar.com, Corp. (NYSE:DESP)’s share price gapped down prior to trading on Friday . The stock had previously closed at $15.00, but opened at $14.70. Despegar.com shares last traded at $15.03, with a volume of 72,018 shares.

Analyst Ratings Changes

A number of research firms recently weighed in on DESP. TD Cowen increased their price objective on Despegar.com from $9.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Citigroup increased their price target on Despegar.com from $14.50 to $15.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $17.00 price objective on shares of Despegar.com in a research report on Friday, August 16th.

Despegar.com Stock Performance

The business’s 50 day moving average is $12.64 and its two-hundred day moving average is $12.78.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC bought a new stake in Despegar.com in the 2nd quarter valued at about $1,102,000. Quadrature Capital Ltd increased its holdings in shares of Despegar.com by 108.5% during the first quarter. Quadrature Capital Ltd now owns 185,891 shares of the company’s stock valued at $2,220,000 after acquiring an additional 96,739 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Despegar.com during the first quarter worth approximately $4,534,000. Yarra Square Partners LP bought a new position in shares of Despegar.com in the 1st quarter worth $4,605,000. Finally, Acadian Asset Management LLC acquired a new stake in Despegar.com in the 1st quarter valued at $3,138,000. Institutional investors and hedge funds own 67.93% of the company’s stock.

Despegar.com Company 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.