Despegar.com, Corp. (NYSE:DESP) Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its stake in shares of Despegar.com, Corp. (NYSE:DESP) by 21.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,992 shares of the company’s stock after selling 26,230 shares during the quarter. Rhumbline Advisers owned about 0.11% of Despegar.com worth $1,785,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of DESP. GAMMA Investing LLC raised its stake in shares of Despegar.com by 1,779.4% during the first quarter. GAMMA Investing LLC now owns 1,917 shares of the company’s stock valued at $36,000 after purchasing an additional 1,815 shares in the last quarter. Sylebra Capital LLC lifted its position in shares of Despegar.com by 0.3% in the 4th quarter. Sylebra Capital LLC now owns 2,931,213 shares of the company’s stock valued at $56,426,000 after acquiring an additional 7,938 shares in the last quarter. Alpine Global Management LLC acquired a new stake in shares of Despegar.com in the fourth quarter worth $770,000. BCK Capital Management LP acquired a new stake in Despegar.com during the 4th quarter worth about $1,067,000. Finally, Voloridge Investment Management LLC grew its position in Despegar.com by 229.1% during the fourth quarter. Voloridge Investment Management LLC now owns 757,972 shares of the company’s stock valued at $14,591,000 after purchasing an additional 527,683 shares in the last quarter. Institutional investors and hedge funds own 67.93% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, B. Riley lowered Despegar.com from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Despegar.com has a consensus rating of “Hold” and an average price target of $16.75.

Despegar.com Stock Performance

Shares of Despegar.com stock opened at $19.50 on Wednesday. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of -650.00, a PEG ratio of 0.91 and a beta of 1.61. Despegar.com, Corp. has a 1-year low of $9.25 and a 1-year high of $19.55. The firm has a fifty day simple moving average of $19.39 and a 200-day simple moving average of $18.99.

Despegar.com (NYSE:DESP) last issued its quarterly earnings results on Tuesday, April 29th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.61). The business had revenue of $210.30 million for the quarter, compared to analyst estimates of $212.40 million. Despegar.com had a negative return on equity of 58.97% and a net margin of 4.45%. The company’s revenue was up 8.7% compared to the same quarter last year. As a group, research analysts predict that Despegar.com, Corp. will post 0.87 earnings per share for the current year.

Despegar.com Company 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.