Moerus Capital Management LLC Sells 341,981 Shares of Despegar.com, Corp. (NYSE:DESP)

Moerus Capital Management LLC decreased its holdings in Despegar.com, Corp. (NYSE:DESP) by 16.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,679,528 shares of the company’s stock after selling 341,981 shares during the period. Despegar.com makes up approximately 11.8% of Moerus Capital Management LLC’s investment portfolio, making the stock its 4th largest position. Moerus Capital Management LLC owned about 2.01% of Despegar.com worth $32,331,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in DESP. Quarry LP lifted its position in Despegar.com by 107.1% during the third quarter. Quarry LP now owns 2,769 shares of the company’s stock worth $34,000 after buying an additional 1,432 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Despegar.com in the 3rd quarter worth $56,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Despegar.com during the 4th quarter worth $68,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Despegar.com during the 4th quarter valued at about $104,000. Finally, FMR LLC purchased a new stake in shares of Despegar.com in the third quarter valued at about $173,000. 67.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DESP has been the topic of several recent analyst reports. TD Cowen upgraded shares of Despegar.com from a “sell” rating to a “hold” rating in a report on Tuesday, December 24th. 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 data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $17.20.

Despegar.com Stock Performance

Shares of DESP opened at $18.91 on Friday. The firm has a 50-day simple moving average of $19.18 and a two-hundred day simple moving average of $17.21. Despegar.com, Corp. has a 1-year low of $9.25 and a 1-year high of $19.55.

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.