Blue Grotto Capital LLC Reduces Stock Position in Despegar.com, Corp. (NYSE:DESP)

Blue Grotto Capital LLC reduced its position in shares of Despegar.com, Corp. (NYSE:DESP) by 1.7% in the fourth quarter, Holdings Channel reports. The firm owned 1,847,961 shares of the company’s stock after selling 32,039 shares during the quarter. Despegar.com accounts for 6.5% of Blue Grotto Capital LLC’s holdings, making the stock its 4th biggest holding. Blue Grotto Capital LLC’s holdings in Despegar.com were worth $35,573,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Quarry LP grew its holdings in shares of Despegar.com by 107.1% during the third quarter. Quarry LP now owns 2,769 shares of the company’s stock valued at $34,000 after buying an additional 1,432 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Despegar.com during the 4th quarter valued at $68,000. O Brien Greene & Co. Inc raised its stake in shares of Despegar.com by 4.1% in the third quarter. O Brien Greene & Co. Inc now owns 101,000 shares of the company’s stock worth $1,252,000 after purchasing an additional 4,000 shares during the last quarter. SkyView Investment Advisors LLC lifted 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 valued at $3,068,000 after purchasing an additional 4,118 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Despegar.com during the third quarter valued at $56,000. 67.93% of the stock is owned by hedge funds and other institutional investors.

Despegar.com Price Performance

DESP opened at $19.13 on Wednesday. The company’s 50 day moving average is $19.23 and its 200 day moving average is $16.87. Despegar.com, Corp. has a 12-month low of $9.25 and a 12-month high of $19.55.

Wall Street Analysts Forecast Growth

DESP has been the subject of a number of recent analyst reports. TD Cowen raised Despegar.com from a “sell” rating to a “hold” rating in a research report on Tuesday, December 24th. B. Riley downgraded shares of Despegar.com from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Finally, Morgan Stanley raised their target price on shares of Despegar.com from $17.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average 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.