Blue Grotto Capital LLC Cuts Stake in Despegar.com, Corp. (NYSE:DESP)

Blue Grotto Capital LLC trimmed its position in shares of Despegar.com, Corp. (NYSE:DESP) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,847,961 shares of the company’s stock after selling 32,039 shares during the period. Despegar.com comprises 6.5% of Blue Grotto Capital LLC’s portfolio, making the stock its 4th largest position. Blue Grotto Capital LLC owned 2.21% of Despegar.com worth $35,573,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Itau Unibanco Holding S.A. raised its position in Despegar.com by 1.3% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 2,099,156 shares of the company’s stock valued at $26,030,000 after purchasing an additional 26,443 shares during the last quarter. Woodson Capital Management LP raised its holdings in shares of Despegar.com by 78.4% during the third quarter. Woodson Capital Management LP now owns 1,426,952 shares of the company’s stock valued at $17,694,000 after acquiring an additional 626,952 shares in the last quarter. MayTech Global Investments LLC lifted its stake in Despegar.com by 23.1% in the third quarter. MayTech Global Investments LLC now owns 1,101,684 shares of the company’s stock worth $13,661,000 after acquiring an additional 207,023 shares during the period. State Street Corp boosted its holdings in Despegar.com by 37.6% in the third quarter. State Street Corp now owns 958,706 shares of the company’s stock valued at $11,888,000 after acquiring an additional 261,991 shares in the last quarter. Finally, TT International Asset Management LTD purchased a new position in Despegar.com during the 3rd quarter valued at $8,763,000. 67.93% of the stock is currently owned by hedge funds and other institutional investors.

Despegar.com Price Performance

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

Analyst Ratings Changes

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