Despegar.com (NYSE:DESP) Shares Gap Down – Time to Sell?

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

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

Despegar.com Stock Performance

The stock’s fifty day moving average price is $12.64 and its two-hundred day moving average price is $12.78.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quantbot Technologies LP boosted its stake in shares of Despegar.com by 4.8% in the 1st quarter. Quantbot Technologies LP now owns 31,462 shares of the company’s stock valued at $376,000 after purchasing an additional 1,452 shares in the last quarter. Amalgamated Bank acquired a new stake in Despegar.com in the second quarter valued at approximately $28,000. SkyView Investment Advisors LLC grew its stake in shares of Despegar.com by 2.1% during the first quarter. SkyView Investment Advisors LLC now owns 232,579 shares of the company’s stock worth $2,782,000 after buying an additional 4,727 shares during the last quarter. Hood River Capital Management LLC increased its holdings in shares of Despegar.com by 71.1% during the second quarter. Hood River Capital Management LLC now owns 14,461 shares of the company’s stock worth $191,000 after buying an additional 6,011 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of Despegar.com during the 2nd quarter valued at $87,000. Institutional investors 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.