Summit Global Investments acquired a new stake in Despegar.com Corp (NYSE:DESP) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 30,400 shares of the company’s stock, valued at approximately $637,000.

Several other hedge funds have also made changes to their positions in DESP. BlackRock Inc. acquired a new position in shares of Despegar.com in the fourth quarter valued at approximately $142,000. State of New Jersey Common Pension Fund D acquired a new position in shares of Despegar.com in the first quarter valued at approximately $209,000. Jane Street Group LLC acquired a new position in shares of Despegar.com in the first quarter valued at approximately $227,000. GSA Capital Partners LLP acquired a new position in shares of Despegar.com in the first quarter valued at approximately $243,000. Finally, Barclays PLC acquired a new position in shares of Despegar.com in the first quarter valued at approximately $292,000. Hedge funds and other institutional investors own 75.48% of the company’s stock.

NYSE DESP opened at $16.96 on Friday. Despegar.com Corp has a 52 week low of $16.42 and a 52 week high of $36.56. The company has a market cap of $1.21 billion and a price-to-earnings ratio of 24.58.

Despegar.com (NYSE:DESP) last posted its quarterly earnings results on Thursday, August 16th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). Despegar.com had a return on equity of 17.07% and a net margin of 7.45%. The firm had revenue of $128.30 million for the quarter, compared to analyst estimates of $133.55 million. During the same quarter last year, the firm earned $0.06 EPS. The company’s revenue was up 4.0% on a year-over-year basis. equities analysts forecast that Despegar.com Corp will post 0.57 earnings per share for the current fiscal year.

A number of research analysts recently weighed in on the stock. Cowen restated a “buy” rating and issued a $20.00 price objective on shares of Despegar.com in a report on Friday, August 17th. Citigroup dropped their price objective on shares of Despegar.com from $28.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 17th. Morgan Stanley dropped their price objective on shares of Despegar.com from $24.00 to $22.00 and set an “equal weight” rating for the company in a report on Friday, August 17th. UBS Group cut shares of Despegar.com from a “market perform” rating to an “underperform” rating in a report on Friday, August 17th. Finally, KeyCorp dropped their price objective on shares of Despegar.com from $30.00 to $27.00 and set a “buy” rating for the company in a report on Friday, August 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $30.25.

About Despegar.com

Despegar.com, Corp., an online travel company, provides a range of travel and travel-related products through its Websites and mobile applications in Latin America. It operates through two segments, Air; and Packages, Hotels and Other Travel Products. The company offers airline tickets, packages, hotels, and other travel-related products under the Despegar and Decolar brands, which enable consumers to find, compare, plan, and purchase travel products through its marketplace.

See Also: Leveraged Buyout (LBO)

Want to see what other hedge funds are holding DESP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Despegar.com Corp (NYSE:DESP).

Institutional Ownership by Quarter for Despegar.com (NYSE:DESP)

Receive News & Ratings for Despegar.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Despegar.com and related companies with MarketBeat.com's FREE daily email newsletter.