Fred Alger Management Inc. lessened its stake in shares of Despegar Com Inc (NYSE:DESP) by 38.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of DESP. Grandeur Peak Global Advisors LLC bought a new stake in shares of Despegar Com in the 3rd quarter worth $160,000. BlackRock Inc. bought a new stake in shares of Despegar Com in the 4th quarter worth $142,000. Cubist Systematic Strategies LLC bought a new stake in shares of Despegar Com in the 3rd quarter worth $192,000. Nationwide Fund Advisors bought a new stake in shares of Despegar Com in the 3rd quarter worth $253,000. Finally, Malaga Cove Capital LLC bought a new stake in shares of Despegar Com in the 4th quarter worth $274,000. 74.24% of the stock is owned by institutional investors.
A number of analysts have commented on DESP shares. Zacks Investment Research lowered Despegar Com from a “buy” rating to a “hold” rating in a report on Friday, January 12th. Morgan Stanley lifted their price objective on Despegar Com from $31.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, November 17th. Cowen reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Despegar Com in a report on Sunday, November 19th. UBS Group raised Despegar Com from a “neutral” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Thursday, January 11th. Finally, Citigroup lifted 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. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $35.88.
Despegar Com (NYSE:DESP) last issued its quarterly earnings data on Thursday, March 8th. The company reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.06. The firm had revenue of $144.00 million during the quarter, compared to the consensus estimate of $136.10 million. The firm’s quarterly revenue was up 29.5% compared to the same quarter last year. equities analysts anticipate that Despegar Com Inc will post 0.79 EPS for the current fiscal year.
About Despegar Com
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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