TimesSquare Capital Management LLC trimmed its stake in shares of Despegar.com, Corp. (NYSE:DESP) by 24.7% during the first quarter, HoldingsChannel reports. The fund owned 26,500 shares of the company’s stock after selling 8,700 shares during the period. TimesSquare Capital Management LLC’s holdings in Despegar.com were worth $361,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. Crestone Asset Management LLC bought a new position in Despegar.com in the first quarter valued at $143,000. SkyView Investment Advisors LLC bought a new position in shares of Despegar.com in the 4th quarter valued at about $174,000. HighTower Advisors LLC grew its position in shares of Despegar.com by 38.7% in the 4th quarter. HighTower Advisors LLC now owns 14,818 shares of the company’s stock valued at $190,000 after acquiring an additional 4,131 shares during the period. Tuttle Tactical Management bought a new position in shares of Despegar.com in the 1st quarter valued at about $267,000. Finally, Dumac Inc. bought a new position in shares of Despegar.com in the 4th quarter valued at about $268,000. Institutional investors and hedge funds own 50.83% of the company’s stock.
Shares of NYSE:DESP opened at $14.18 on Friday. The firm has a 50 day moving average price of $13.46. The firm has a market cap of $994.00 million, a PE ratio of -5.98 and a beta of 2.56. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.20. Despegar.com, Corp. has a 12 month low of $6.08 and a 12 month high of $17.66.
DESP has been the subject of a number of analyst reports. Morgan Stanley lifted their price objective on shares of Despegar.com from $13.00 to $14.00 and gave the company an “equal weight” rating in a research report on Monday, May 24th. KeyCorp upgraded shares of Despegar.com from a “sector weight” rating to an “overweight” rating and set a $23.00 price objective for the company in a research note on Tuesday, March 16th. Finally, Zacks Investment Research upgraded shares of Despegar.com from a “sell” rating to a “hold” rating in a research note on Monday, May 17th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $16.67.
Despegar.com, Corp., online travel company, provides a range of travel and travel-related products through its websites and mobile applications in Latin America. The company operates through two segments, Air; and Packages, Hotels and Other Travel Products. The company offers airline tickets; travel packages, hotel rooms, car rentals, bus tickets, cruise tickets, travel insurance, destination services, and other travel-related products, which enable consumers to find, compare, plan, and purchase travel products through its marketplace.
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