Nuveen Asset Management LLC Grows Stock Holdings in Despegar.com, Corp. (NYSE:DESP)

Nuveen Asset Management LLC lifted its stake in Despegar.com, Corp. (NYSE:DESP - Free Report) by 428.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,381,714 shares of the company's stock after buying an additional 1,931,033 shares during the period. Nuveen Asset Management LLC owned approximately 2.85% of Despegar.com worth $45,848,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Legal & General Group Plc increased its holdings in Despegar.com by 13.7% during the 4th quarter. Legal & General Group Plc now owns 13,199 shares of the company's stock valued at $254,000 after purchasing an additional 1,588 shares during the period. SG Americas Securities LLC increased its holdings in Despegar.com by 187.5% during the 4th quarter. SG Americas Securities LLC now owns 28,939 shares of the company's stock valued at $557,000 after purchasing an additional 18,872 shares during the period. 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 valued at $9,584,000 after purchasing an additional 421,826 shares during the period. Franklin Resources Inc. increased its holdings in Despegar.com by 16.6% during the 4th quarter. Franklin Resources Inc. now owns 36,534 shares of the company's stock valued at $703,000 after purchasing an additional 5,195 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in Despegar.com by 9.5% during the 4th quarter. Principal Financial Group Inc. now owns 52,162 shares of the company's stock valued at $1,004,000 after purchasing an additional 4,528 shares during the period. Hedge funds and other institutional investors own 67.93% of the company's stock.

Despegar.com Stock Performance

Despegar.com stock opened at $19.50 on Tuesday. The stock's 50 day simple moving average is $19.20 and its two-hundred day simple moving average is $18.56. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of -650.00, a PEG ratio of 0.91 and a beta of 1.61. Despegar.com, Corp. has a fifty-two week low of $9.25 and a fifty-two week high of $19.55.

Despegar.com (NYSE:DESP - Get Free Report) last posted 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). The firm had revenue of $210.30 million for the quarter, compared to the consensus estimate of $212.40 million. Despegar.com had a net margin of 4.45% and a negative return on equity of 58.97%. The firm's revenue for the quarter was up 8.7% on a year-over-year basis. On average, analysts predict 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 report on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus 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.

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