Itau Unibanco Holding S.A. Acquires 1,071,213 Shares of Despegar.com, Corp. (NYSE:DESP)

Itau Unibanco Holding S.A. raised its stake in shares of Despegar.com, Corp. (NYSE:DESP) by 107.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,072,713 shares of the company’s stock after acquiring an additional 1,071,213 shares during the quarter. Despegar.com makes up about 1.1% of Itau Unibanco Holding S.A.’s portfolio, making the stock its 23rd biggest position. Itau Unibanco Holding S.A. owned approximately 3.14% of Despegar.com worth $26,446,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Artisan Partners Limited Partnership raised its stake in shares of Despegar.com by 6.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,933,450 shares of the company’s stock worth $18,290,000 after acquiring an additional 125,288 shares in the last quarter. Sylebra Capital LLC lifted its holdings in shares of Despegar.com by 236.2% during the 1st quarter. Sylebra Capital LLC now owns 1,694,451 shares of the company’s stock valued at $20,266,000 after purchasing an additional 1,190,463 shares during the last quarter. Coronation Fund Managers Ltd. purchased a new position in Despegar.com during the 2nd quarter worth $15,680,000. MayTech Global Investments LLC purchased a new position in Despegar.com during the 2nd quarter worth $11,836,000. Finally, Norges Bank purchased a new stake in Despegar.com in the fourth quarter valued at about $6,622,000. 67.93% of the stock is currently owned by hedge funds and other institutional investors.

Despegar.com Trading Up 0.2 %

Shares of NYSE DESP opened at $12.48 on Friday. Despegar.com, Corp. has a 52 week low of $6.09 and a 52 week high of $15.82. The business’s 50 day moving average price is $11.75 and its 200 day moving average price is $12.41.

Despegar.com (NYSE:DESP) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $184.35 million. Despegar.com had a net margin of 3.30% and a negative return on equity of 62.18%. On average, sell-side analysts expect that Despegar.com, Corp. will post 0.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.