WCM Investment Management LLC Sells 318,642 Shares of Despegar.com, Corp. (NYSE:DESP)

WCM Investment Management LLC trimmed its holdings in Despegar.com, Corp. (NYSE:DESP - Free Report) by 10.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,600,236 shares of the company's stock after selling 318,642 shares during the period. WCM Investment Management LLC owned approximately 3.94% of Despegar.com worth $33,049,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the company. Sylebra Capital LLC grew its position in shares of Despegar.com by 72.5% during the 2nd quarter. Sylebra Capital LLC now owns 2,923,275 shares of the company's stock valued at $38,675,000 after purchasing an additional 1,228,824 shares in the last quarter. Itau Unibanco Holding S.A. grew its position in shares of Despegar.com by 107.0% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 2,072,713 shares of the company's stock valued at $26,446,000 after purchasing an additional 1,071,213 shares in the last quarter. Coronation Fund Managers Ltd. purchased a new position in shares of Despegar.com during the 2nd quarter valued at $15,680,000. MayTech Global Investments LLC purchased a new position in shares of Despegar.com during the 2nd quarter valued at $11,836,000. Finally, Woodson Capital Management LP purchased a new position in shares of Despegar.com during the 1st quarter valued at $5,980,000. 67.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DESP has been the subject of several research reports. TD Cowen upped their target price on shares of Despegar.com from $9.00 to $12.00 and gave the stock a "buy" rating in a research report on Tuesday, August 20th. Citigroup boosted their price target on shares of Despegar.com from $14.50 to $15.00 and gave the stock a "neutral" rating in a research note on Monday, July 22nd. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $17.00 price target on shares of Despegar.com in a research note on Friday, August 16th.

Despegar.com Stock Performance

Shares of NYSE:DESP traded up $0.13 during midday trading on Monday, hitting $15.13. 738,041 shares of the stock traded hands, compared to its average volume of 891,319. The business's 50 day moving average is $13.31 and its two-hundred day moving average is $12.99. Despegar.com, Corp. has a one year low of $6.75 and a one year high of $15.82.

Despegar.com (NYSE:DESP - Get Free Report) last announced its quarterly earnings results on Thursday, August 15th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.12. Despegar.com had a net margin of 3.30% and a negative return on equity of 62.18%. The company had revenue of $185.05 million for the quarter, compared to analysts' expectations of $184.35 million. As a group, equities analysts anticipate that Despegar.com, Corp. will post 0.81 EPS for the current year.

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.