Resources Investment Advisors LLC. Invests $1.14 Million in Despegar.com, Corp. (NYSE:DESP)

Posted by Defense World Staff on Aug 21st, 2023

Resources Investment Advisors LLC. acquired a new stake in Despegar.com, Corp. (NYSE:DESP – Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 185,909 shares of the company’s stock, valued at approximately $1,141,000. Resources Investment Advisors LLC. owned 0.28% of Despegar.com at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. boosted its stake in Despegar.com by 6.7% during the first quarter. Bessemer Group Inc. now owns 35,320 shares of the company’s stock worth $217,000 after acquiring an additional 2,225 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Despegar.com by 35.6% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 214,505 shares of the company’s stock valued at $1,317,000 after buying an additional 56,342 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in Despegar.com by 7.9% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,335,618 shares of the company’s stock valued at $20,481,000 after buying an additional 243,265 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Despegar.com by 50.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 175,803 shares of the company’s stock valued at $1,079,000 after buying an additional 59,008 shares in the last quarter. Finally, ETF Managers Group LLC acquired a new position in Despegar.com during the 1st quarter worth approximately $2,828,000. Institutional investors own 57.38% of the company’s stock.

Despegar.com Stock Performance

DESP stock opened at $7.86 on Monday. Despegar.com, Corp. has a twelve month low of $4.44 and a twelve month high of $9.45. The stock’s 50 day moving average is $7.38 and its 200-day moving average is $6.50.

Despegar.com (NYSE:DESP – Get Free Report) last issued its quarterly earnings data on Thursday, May 18th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.11). The business had revenue of $158.71 million during the quarter, compared to analyst estimates of $153.13 million. As a group, equities analysts predict that Despegar.com, Corp. will post 0.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DESP has been the subject of several recent research reports. B. Riley boosted their price objective on Despegar.com from $10.00 to $11.00 and gave the company a “buy” rating in a report on Friday. Morgan Stanley upgraded shares of Despegar.com from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $6.50 to $13.00 in a report on Friday, August 11th.

Get Our Latest Analysis on DESP

Despegar.com Profile

(Free Report)

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.