Marshall Wace LLP Cuts Stock Holdings in Despegar.com, Corp. (NYSE:DESP)

Marshall Wace LLP reduced its position in shares of Despegar.com, Corp. (NYSE:DESP - Free Report) by 53.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 190,323 shares of the company's stock after selling 222,366 shares during the period. Marshall Wace LLP owned 0.23% of Despegar.com worth $3,664,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Barclays PLC increased its position in shares of Despegar.com by 298.5% during the third quarter. Barclays PLC now owns 91,888 shares of the company's stock worth $1,139,000 after purchasing an additional 68,829 shares in the last quarter. SkyView Investment Advisors LLC grew its holdings in shares of Despegar.com by 1.7% during the third quarter. SkyView Investment Advisors LLC now owns 247,453 shares of the company's stock worth $3,068,000 after buying an additional 4,118 shares in the last quarter. Blankinship & Foster LLC purchased a new position in shares of Despegar.com in the third quarter worth about $288,000. Franklin Resources Inc. acquired a new position in Despegar.com during the third quarter worth about $395,000. Finally, Principal Financial Group Inc. purchased a new stake in Despegar.com during the 3rd quarter valued at about $591,000. Institutional investors and hedge funds own 67.93% of the company's stock.

Analyst Upgrades and Downgrades

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

Despegar.com Stock Performance

Shares of DESP traded down $0.04 during midday trading on Thursday, hitting $19.43. The company had a trading volume of 535,861 shares, compared to its average volume of 1,596,178. Despegar.com, Corp. has a 1 year low of $9.25 and a 1 year high of $19.55. The company's 50-day simple moving average is $19.14 and its 200-day simple moving average is $18.03.

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

Despegar.com Company 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.