Blue Grotto Capital LLC Sells 32,039 Shares of Despegar.com, Corp. (NYSE:DESP)

Blue Grotto Capital LLC lessened its stake in shares of Despegar.com, Corp. (NYSE:DESP - Free Report) by 1.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,847,961 shares of the company's stock after selling 32,039 shares during the period. Despegar.com comprises approximately 6.5% of Blue Grotto Capital LLC's investment portfolio, making the stock its 4th biggest holding. Blue Grotto Capital LLC owned approximately 2.21% of Despegar.com worth $35,573,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. MayTech Global Investments LLC lifted its holdings in shares of Despegar.com by 23.1% in the 3rd quarter. MayTech Global Investments LLC now owns 1,101,684 shares of the company's stock worth $13,661,000 after buying an additional 207,023 shares during the period. Franklin Resources Inc. bought a new stake in shares of Despegar.com in the third quarter valued at about $395,000. Barclays PLC lifted its stake in Despegar.com by 298.5% in the third quarter. Barclays PLC now owns 91,888 shares of the company's stock worth $1,139,000 after acquiring an additional 68,829 shares during the period. Principal Financial Group Inc. bought a new position in Despegar.com during the 3rd quarter worth about $591,000. Finally, Charles Schwab Investment Management Inc. increased its position in Despegar.com by 76.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 256,726 shares of the company's stock valued at $3,183,000 after purchasing an additional 111,233 shares during the period. Institutional investors own 67.93% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. B. Riley downgraded shares of Despegar.com from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. TD Cowen raised Despegar.com from a "sell" rating to a "hold" rating in a research report on Tuesday, December 24th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $17.20.

Despegar.com Trading Down 3.3 %

Shares of Despegar.com stock traded down $0.62 during trading on Friday, hitting $18.52. 12,138,708 shares of the company's stock were exchanged, compared to its average volume of 1,460,011. Despegar.com, Corp. has a 52-week low of $9.25 and a 52-week high of $19.55. The business has a 50-day simple moving average of $19.21 and a 200-day simple moving average of $16.98.

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.