Charles Schwab Investment Management Inc. Reduces Stock Holdings in Despegar.com, Corp. (NYSE:DESP)

Charles Schwab Investment Management Inc. cut its holdings in Despegar.com, Corp. (NYSE:DESP) by 8.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 235,802 shares of the company’s stock after selling 20,924 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.28% of Despegar.com worth $4,539,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DESP. TT International Asset Management LTD acquired a new position in shares of Despegar.com during the third quarter valued at about $8,763,000. Woodson Capital Management LP increased its stake in Despegar.com by 78.4% during 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 in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Despegar.com during the 3rd quarter valued at approximately $6,765,000. Annex Advisory Services LLC purchased a new position in shares of Despegar.com in the fourth quarter worth $9,499,000. Finally, Beaconlight Capital LLC lifted its stake in shares of Despegar.com by 365.0% during the third quarter. Beaconlight Capital LLC now owns 589,468 shares of the company’s stock worth $7,309,000 after buying an additional 462,696 shares during the period. 67.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DESP has been the subject of a number of research analyst reports. Morgan Stanley raised their target price on Despegar.com from $17.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. B. Riley cut Despegar.com from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, TD Cowen upgraded 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 issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $17.20.

Despegar.com Stock Down 0.4 %

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

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.