Despegar.com, Corp. (NYSE:DESP) Shares Sold by GC Wealth Management RIA LLC

GC Wealth Management RIA LLC lessened its holdings in shares of Despegar.com, Corp. (NYSE:DESP) by 7.3% during the 4th quarter, HoldingsChannel reports. The firm owned 12,163 shares of the company’s stock after selling 953 shares during the period. GC Wealth Management RIA LLC’s holdings in Despegar.com were worth $234,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Principal Financial Group Inc. purchased a new position in shares of Despegar.com during the 3rd quarter worth $591,000. MayTech Global Investments LLC raised its holdings in shares of Despegar.com by 23.1% during the 3rd 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. Franklin Resources Inc. purchased a new position in shares of Despegar.com during the 3rd quarter worth $395,000. Barclays PLC raised its holdings in shares of Despegar.com by 298.5% during the 3rd quarter. Barclays PLC now owns 91,888 shares of the company’s stock worth $1,139,000 after acquiring an additional 68,829 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Despegar.com by 76.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 256,726 shares of the company’s stock worth $3,183,000 after acquiring an additional 111,233 shares during the period. Institutional investors and hedge funds own 67.93% of the company’s stock.

Analysts Set New Price Targets

DESP has been the topic of several analyst reports. Morgan Stanley lifted their price target on Despegar.com from $17.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. B. Riley lowered Despegar.com from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, TD Cowen upgraded shares of Despegar.com from a “sell” rating to a “hold” rating in a report on Tuesday, December 24th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Despegar.com has an average rating of “Hold” and a consensus price target of $17.20.

Despegar.com Stock Performance

Shares of DESP opened at $19.23 on Wednesday. Despegar.com, Corp. has a 12-month low of $9.25 and a 12-month high of $19.55. The company’s 50-day moving average price is $19.21 and its 200 day moving average price is $16.37.

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.