Ameriprise Financial Inc. Has $20.61 Million Holdings in Despegar.com, Corp. (NYSE:DESP)

Ameriprise Financial Inc. increased its holdings in shares of Despegar.com, Corp. (NYSE:DESP - Free Report) by 2,020.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,070,723 shares of the company's stock after purchasing an additional 1,020,238 shares during the period. Ameriprise Financial Inc. owned 1.28% of Despegar.com worth $20,611,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Sterling Capital Management LLC grew its position in shares of Despegar.com by 756.8% in the fourth quarter. Sterling Capital Management LLC now owns 1,705 shares of the company's stock valued at $33,000 after purchasing an additional 1,506 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Despegar.com during the fourth quarter valued at approximately $68,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Despegar.com in the fourth quarter valued at about $104,000. Quinn Opportunity Partners LLC acquired a new position in Despegar.com during the 4th quarter worth approximately $194,000. Finally, OLD Mission Capital LLC acquired a new position in shares of Despegar.com during the fourth quarter worth $221,000. 67.93% of the stock is currently owned by institutional investors.

Despegar.com Price Performance

DESP stock remained flat at $19.50 during midday trading on Monday. The firm has a market capitalization of $1.63 billion, a PE ratio of -650.00, a PEG ratio of 0.91 and a beta of 1.61. The stock's 50 day simple moving average is $19.20 and its 200-day simple moving average is $18.52. Despegar.com, Corp. has a twelve month low of $9.25 and a twelve month high of $19.55.

Despegar.com (NYSE:DESP - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.61). Despegar.com had a net margin of 4.45% and a negative return on equity of 58.97%. The company had revenue of $210.30 million during the quarter, compared to the consensus estimate of $212.40 million. The company's quarterly revenue was up 8.7% on a year-over-year basis. On average, analysts expect that Despegar.com, Corp. will post 0.87 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, B. Riley lowered shares of Despegar.com from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $16.75.

About Despegar.com

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.