Ancient Art L.P. Sells 304,929 Shares of Despegar.com, Corp. (NYSE:DESP)

Ancient Art L.P. cut its holdings in shares of Despegar.com, Corp. (NYSE:DESP - Free Report) by 15.6% in the 4th quarter, according to its most recent disclosure 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 period. Despegar.com comprises approximately 6.7% of Ancient Art L.P.'s investment portfolio, making the stock its 7th biggest position. Ancient Art L.P. owned 1.97% of Despegar.com worth $31,711,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in DESP. Arrowstreet Capital Limited Partnership raised its stake in shares of Despegar.com by 2,086.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,137,974 shares of the company's stock worth $21,906,000 after acquiring an additional 1,085,931 shares in the last quarter. Invesco Ltd. increased its holdings in Despegar.com by 554.8% during the 4th quarter. Invesco Ltd. now owns 497,861 shares of the company's stock worth $9,584,000 after purchasing an additional 421,826 shares during the last quarter. Annex Advisory Services LLC acquired a new position in Despegar.com during the 4th quarter valued at about $9,499,000. RBF Capital LLC grew its stake in Despegar.com by 115.2% in the fourth quarter. RBF Capital LLC now owns 491,256 shares of the company's stock valued at $9,287,000 after purchasing an additional 263,006 shares in the last quarter. Finally, TIG Advisors LLC bought a new position in Despegar.com in the fourth quarter worth $8,275,000. 67.93% of the stock is currently owned by institutional investors.

Despegar.com Stock Performance

Shares of NYSE:DESP traded down $0.01 on Thursday, hitting $19.45. The company's stock had a trading volume of 474,479 shares, compared to its average volume of 1,620,088. The stock's 50-day moving average is $19.16 and its two-hundred day moving average is $18.24. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -648.33, a price-to-earnings-growth ratio of 0.91 and a beta of 1.61. Despegar.com, Corp. has a 12 month low of $9.25 and a 12 month high of $19.55.

Despegar.com (NYSE:DESP - Get Free Report) 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). Despegar.com had a net margin of 4.45% and a negative return on equity of 58.97%. The firm had revenue of $210.30 million during the quarter, compared to the consensus estimate of $212.40 million. The business's revenue for the quarter was up 8.7% compared to the same quarter last year. Equities analysts expect that Despegar.com, Corp. will post 0.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Despegar.com 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.