Penserra Capital Management LLC Increases Position in Despegar.com Corp (DESP)
Penserra Capital Management LLC boosted its stake in Despegar.com Corp (NYSE:DESP) by 10.4% in the first quarter, Holdings Channel reports. The fund owned 54,780 shares of the company’s stock after buying an additional 5,147 shares during the quarter. Penserra Capital Management LLC’s holdings in Despegar.com were worth $815,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in DESP. Legal & General Group Plc purchased a new stake in Despegar.com in the third quarter valued at $83,000. Quantamental Technologies LLC purchased a new stake in shares of Despegar.com in the fourth quarter valued at about $94,000. Bank of America Corp DE raised its holdings in shares of Despegar.com by 52.6% in the fourth quarter. Bank of America Corp DE now owns 9,351 shares of the company’s stock valued at $116,000 after buying an additional 3,224 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Despegar.com by 105.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 12,468 shares of the company’s stock valued at $154,000 after buying an additional 6,402 shares during the last quarter. Finally, Coronation Fund Managers Ltd. purchased a new stake in shares of Despegar.com in the fourth quarter valued at about $211,000. 46.43% of the stock is owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research cut shares of Despegar.com from a “hold” rating to a “sell” rating in a report on Tuesday, January 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Despegar.com currently has a consensus rating of “Hold” and an average price target of $23.50.
Despegar.com (NYSE:DESP) last announced its earnings results on Thursday, May 9th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Despegar.com had a net margin of 0.91% and a return on equity of 1.84%. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $128.90 million. During the same period in the previous year, the company posted $0.24 earnings per share. Despegar.com’s quarterly revenue was up 797.2% on a year-over-year basis. As a group, sell-side analysts predict that Despegar.com Corp will post -0.24 EPS for the current year.
ILLEGAL ACTIVITY NOTICE: “Penserra Capital Management LLC Increases Position in Despegar.com Corp (DESP)” was first posted by Watch List News and is the property of of Watch List News. If you are viewing this report on another publication, it was stolen and reposted in violation of international trademark & copyright law. The correct version of this report can be read at https://www.watchlistnews.com/penserra-capital-management-llc-increases-position-in-despegar-com-corp-desp/3022096.html.
Despegar.com Company Profile
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.
Read More: How accurate is the Rule of 72?
Want to see what other hedge funds are holding DESP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Despegar.com Corp (NYSE:DESP).
Receive News & Ratings for Despegar.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Despegar.com and related companies with MarketBeat.com's FREE daily email newsletter.