Despegar.com, Corp. (NYSE:DESP) was the recipient of a large decline in short interest in April. As of April 15th, there was short interest totalling 1,150,000 shares, a decline of 26.3% from the March 31st total of 1,560,000 shares. Based on an average daily volume of 514,200 shares, the days-to-cover ratio is currently 2.2 days. Currently, 2.0% of the company’s stock are sold short.
Shares of Despegar.com stock traded down $0.59 on Tuesday, hitting $12.77. The stock had a trading volume of 268,849 shares, compared to its average volume of 448,977. Despegar.com has a 52-week low of $4.66 and a 52-week high of $17.66. The stock has a market cap of $889.40 million, a price-to-earnings ratio of -7.60 and a beta of 2.54. The company’s 50 day moving average price is $14.05 and its 200 day moving average price is $11.84.
Despegar.com (NYSE:DESP) last posted its earnings results on Wednesday, March 10th. The company reported ($0.41) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by ($0.03). The firm had revenue of $53.25 million during the quarter, compared to analyst estimates of $34.90 million. As a group, research analysts predict that Despegar.com will post -1.2 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Roubaix Capital LLC purchased a new stake in Despegar.com during the 1st quarter valued at approximately $3,900,000. Crestone Asset Management LLC purchased a new stake in Despegar.com during the 1st quarter valued at approximately $143,000. Tuttle Tactical Management purchased a new stake in Despegar.com during the 1st quarter valued at approximately $267,000. Dumac Inc. purchased a new stake in Despegar.com during the 4th quarter valued at approximately $268,000. Finally, SkyView Investment Advisors LLC purchased a new stake in Despegar.com during the 4th quarter valued at approximately $174,000. 51.07% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on DESP. Morgan Stanley lifted their price target on Despegar.com from $8.00 to $13.00 and gave the stock an “equal weight” rating in a report on Monday, January 11th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reaffirmed a “neutral” rating and set a $13.00 price target (up from $11.00) on shares of Despegar.com in a report on Wednesday, January 13th. KeyCorp raised Despegar.com from a “sector weight” rating to an “overweight” rating and set a $23.00 price target for the company in a report on Monday, March 22nd. Zacks Investment Research downgraded Despegar.com from a “hold” rating to a “sell” rating in a report on Thursday, March 18th. Finally, Smith Barney Citigroup downgraded Despegar.com from a “buy” rating to a “neutral” rating in a report on Wednesday, January 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $13.30.
Despegar.com, Corp., online travel company, provides a range of travel and travel-related products through its websites and mobile applications in Latin America. The company operates through two segments, Air; and Packages, Hotels and Other Travel Products. It offers airline tickets, packages, hotels, and other travel-related products, which enable consumers to find, compare, plan, and purchase travel products through its marketplace under the Despegar and Decolar brands.
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