Despegar.com, Corp. (NYSE:DESP) Shares Bought by Sterling Capital Management LLC

Sterling Capital Management LLC lifted its position in shares of Despegar.com, Corp. (NYSE:DESP) by 756.8% during the fourth quarter, HoldingsChannel reports. The firm owned 1,705 shares of the company’s stock after purchasing an additional 1,506 shares during the quarter. Sterling Capital Management LLC’s holdings in Despegar.com were worth $33,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Harvest Fund Management Co. Ltd purchased a new stake in Despegar.com during the 4th quarter worth $68,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Despegar.com during the fourth quarter valued at about $104,000. Quinn Opportunity Partners LLC purchased a new stake in shares of Despegar.com during the fourth quarter worth about $194,000. OLD Mission Capital LLC acquired a new position in shares of Despegar.com in the fourth quarter worth about $221,000. Finally, Legal & General Group Plc boosted its holdings in Despegar.com by 13.7% in the fourth 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 last quarter. 67.93% of the stock is currently owned by hedge funds and other institutional investors.

Despegar.com Price Performance

Shares of Despegar.com stock opened at $19.14 on Friday. The business has a 50-day moving average price of $19.13 and a 200 day moving average price of $17.90. Despegar.com, Corp. has a fifty-two week low of $9.25 and a fifty-two week high of $19.55.

Wall Street Analysts Forecast Growth

Separately, B. Riley downgraded Despegar.com from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $17.20.

Despegar.com 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.