Ancient Art L.P. Has $31.71 Million Stake in Despegar.com, Corp. (NYSE:DESP)

Ancient Art L.P. cut its stake in Despegar.com, Corp. (NYSE:DESP - Free Report) by 15.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,647,343 shares of the company's stock after selling 304,929 shares during the quarter. Despegar.com accounts for 6.7% of Ancient Art L.P.'s holdings, making the stock its 7th biggest position. Ancient Art L.P. owned 1.97% of Despegar.com worth $31,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of DESP. Sterling Capital Management LLC raised its position in Despegar.com by 756.8% in the 4th quarter. Sterling Capital Management LLC now owns 1,705 shares of the company's stock valued at $33,000 after buying an additional 1,506 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Despegar.com during the fourth quarter worth approximately $68,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Despegar.com in the 4th quarter valued at $104,000. Quinn Opportunity Partners LLC acquired a new stake in shares of Despegar.com during the fourth quarter worth $194,000. Finally, OLD Mission Capital LLC bought a new stake in shares of Despegar.com in the fourth quarter valued at about $221,000. Institutional investors own 67.93% of the company's stock.

Despegar.com Price Performance

NYSE DESP traded up $0.03 during trading hours on Tuesday, reaching $19.47. The company's stock had a trading volume of 4,278,054 shares, compared to its average volume of 1,630,065. The stock has a market cap of $1.63 billion, a P/E ratio of -649.00, a P/E/G ratio of 0.91 and a beta of 1.61. Despegar.com, Corp. has a 52 week low of $9.25 and a 52 week high of $19.55. The firm has a fifty day simple moving average of $19.15 and a 200-day simple moving average of $18.22.

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

Analyst Upgrades and Downgrades

Separately, B. Riley cut Despegar.com from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $17.20.

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.