Bayesian Capital Management LP Purchases New Position in Despegar.com, Corp. (NYSE:DESP)

Bayesian Capital Management LP purchased a new stake in Despegar.com, Corp. (NYSE:DESP) during the first quarter, according to its most recent filing with the SEC. The firm purchased 11,000 shares of the company’s stock, valued at approximately $132,000.

Other hedge funds have also modified their holdings of the company. Quadrature Capital Ltd raised its position in shares of Despegar.com by 108.5% in the 1st quarter. Quadrature Capital Ltd now owns 185,891 shares of the company’s stock valued at $2,220,000 after acquiring an additional 96,739 shares during the period. Yarra Square Partners LP acquired a new stake in shares of Despegar.com in the 1st quarter valued at approximately $4,605,000. TimesSquare Capital Management LLC raised its position in shares of Despegar.com by 27.5% in the 4th quarter. TimesSquare Capital Management LLC now owns 396,400 shares of the company’s stock valued at $3,750,000 after acquiring an additional 85,600 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Despegar.com in the 1st quarter valued at approximately $3,138,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in Despegar.com during the 4th quarter worth approximately $189,000. 67.93% of the stock is currently owned by institutional investors and hedge funds.

Despegar.com Stock Down 7.6 %

Shares of DESP opened at $10.74 on Friday. Despegar.com, Corp. has a twelve month low of $6.09 and a twelve month high of $15.82. The company has a 50 day moving average of $13.50 and a 200-day moving average of $11.73.

Despegar.com (NYSE:DESP) last issued its quarterly earnings results on Thursday, May 16th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.06. Despegar.com had a net margin of 5.41% and a negative return on equity of 44.06%. The company had revenue of $173.66 million during the quarter, compared to analysts’ expectations of $172.23 million. On average, sell-side analysts predict that Despegar.com, Corp. will post 0.83 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on DESP. B. Riley raised their target price on shares of Despegar.com from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Citigroup raised their target price on shares of Despegar.com from $14.50 to $15.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Finally, Cantor Fitzgerald raised their target price on shares of Despegar.com from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, May 17th.

Despegar.com 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.