Fred Alger Management Inc. lowered its stake in Despegar Com Inc (NYSE:DESP) by 38.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,965 shares of the company’s stock after selling 46,001 shares during the period. Fred Alger Management Inc. owned approximately 0.11% of Despegar Com worth $2,005,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new position in Despegar Com during the fourth quarter valued at about $142,000. Grandeur Peak Global Advisors LLC bought a new stake in shares of Despegar Com in the 3rd quarter valued at approximately $160,000. Cubist Systematic Strategies LLC bought a new stake in shares of Despegar Com in the 3rd quarter valued at approximately $192,000. Nationwide Fund Advisors bought a new stake in shares of Despegar Com in the 3rd quarter valued at approximately $253,000. Finally, Malaga Cove Capital LLC bought a new stake in shares of Despegar Com in the 4th quarter valued at approximately $274,000. Institutional investors and hedge funds own 74.24% of the company’s stock.
Shares of DESP stock traded down $0.07 during trading hours on Wednesday, reaching $31.81. 155,622 shares of the company traded hands, compared to its average volume of 200,891. Despegar Com Inc has a twelve month low of $22.73 and a twelve month high of $36.56.
Despegar Com (NYSE:DESP) last issued its earnings results on Thursday, March 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.06. The firm had revenue of $144.00 million during the quarter, compared to analyst estimates of $136.10 million. The company’s quarterly revenue was up 29.5% on a year-over-year basis. equities analysts predict that Despegar Com Inc will post 0.79 earnings per share for the current fiscal year.
Several research analysts have recently commented on DESP shares. R. F. Lafferty started coverage on Despegar Com in a report on Monday, March 12th. They issued a “buy” rating and a $38.00 target price on the stock. Citigroup upped their price objective on Despegar Com from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Friday, March 9th. Zacks Investment Research raised Despegar Com from a “sell” rating to a “hold” rating and set a $36.00 price objective on the stock in a report on Monday, March 12th. Morgan Stanley reaffirmed an “equal weight” rating and set a $33.00 price objective (up previously from $32.00) on shares of Despegar Com in a report on Friday, March 9th. Finally, UBS raised Despegar Com from a “neutral” rating to a “buy” rating and set a $36.00 price objective on the stock in a report on Thursday, January 11th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Despegar Com has a consensus rating of “Buy” and an average price target of $36.63.
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Despegar Com Profile
Despegar.com Corp is an Argentina-based travel agency. The Company’s activities are divided into two business segments: Air, as well as Packages, Hotels and Other Travel Products. The Air division focuses on the sale of airline tickets. The Packages, Hotels and Other Travel Products division includes sales of travel packages with or without airline tickets and hotel rooms, as well as stand-alone sales of hotel rooms, including vacation rentals, car rentals, bus tickets, cruise tickets, travel insurance and destination services.
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