Artisan Partners Limited Partnership Sells 1,259,239 Shares of Despegar.com, Corp. (NYSE:DESP)

Artisan Partners Limited Partnership reduced its position in Despegar.com, Corp. (NYSE:DESP) by 61.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 794,712 shares of the company’s stock after selling 1,259,239 shares during the quarter. Artisan Partners Limited Partnership owned about 0.95% of Despegar.com worth $15,298,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Itau Unibanco Holding S.A. increased its stake in Despegar.com by 1.3% in the third quarter. Itau Unibanco Holding S.A. now owns 2,099,156 shares of the company’s stock valued at $26,030,000 after acquiring an additional 26,443 shares during the last quarter. Woodson Capital Management LP increased its stake in shares of Despegar.com by 78.4% in the 3rd quarter. Woodson Capital Management LP now owns 1,426,952 shares of the company’s stock valued at $17,694,000 after purchasing an additional 626,952 shares during the last quarter. State Street Corp raised its holdings in shares of Despegar.com by 37.6% during the 3rd quarter. State Street Corp now owns 958,706 shares of the company’s stock worth $11,888,000 after buying an additional 261,991 shares in the last quarter. TT International Asset Management LTD bought a new stake in shares of Despegar.com during the 3rd quarter worth $8,763,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Despegar.com in the third quarter valued at about $6,765,000. 67.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on DESP. B. Riley cut shares of Despegar.com from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Morgan Stanley increased their price objective on shares of Despegar.com from $17.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, November 29th. Finally, TD Cowen raised shares of Despegar.com from a “sell” rating to a “hold” rating in a research note on Tuesday, December 24th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $17.20.

Despegar.com Trading Down 3.3 %

Shares of NYSE DESP opened at $18.52 on Friday. Despegar.com, Corp. has a 1 year low of $9.25 and a 1 year high of $19.55. The company has a 50 day simple moving average of $19.21 and a 200 day simple moving average of $16.95.

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.