Millennium Management LLC Has $6.81 Million Stock Holdings in Despegar.com, Corp. (NYSE:DESP)

Millennium Management LLC lessened its position in Despegar.com, Corp. (NYSE:DESP) by 73.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 515,065 shares of the company’s stock after selling 1,401,387 shares during the period. Millennium Management LLC owned about 0.78% of Despegar.com worth $6,814,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in DESP. Amalgamated Bank acquired a new position in Despegar.com during the 2nd quarter worth about $28,000. Tucker Asset Management LLC acquired a new position in Despegar.com during the 4th quarter worth about $40,000. LRI Investments LLC acquired a new position in Despegar.com during the 2nd quarter worth about $87,000. Hood River Capital Management LLC acquired a new position in Despegar.com during the 1st quarter worth about $101,000. Finally, Adalta Capital Management LLC acquired a new position in Despegar.com during the 1st quarter valued at about $120,000. Institutional investors and hedge funds own 67.93% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Despegar.com Price Performance

NYSE DESP opened at $12.74 on Friday. The business has a 50 day simple moving average of $11.84 and a 200 day simple moving average of $12.62. Despegar.com, Corp. has a 52-week low of $6.09 and a 52-week high of $15.82.

Despegar.com (NYSE:DESP) last released 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. 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 the consensus estimate of $184.35 million. Equities analysts expect that Despegar.com, Corp. will post 0.75 earnings per share for the current fiscal year.

About Despegar.com

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.