GC Wealth Management RIA LLC Trims Position in Despegar.com, Corp. (NYSE:DESP)

GC Wealth Management RIA LLC decreased its position in shares of Despegar.com, Corp. (NYSE:DESP) by 7.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,163 shares of the company’s stock after selling 953 shares during the quarter. GC Wealth Management RIA LLC’s holdings in Despegar.com were worth $234,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in DESP. Quarry LP grew its stake in shares of Despegar.com by 107.1% during the 3rd quarter. Quarry LP now owns 2,769 shares of the company’s stock worth $34,000 after purchasing an additional 1,432 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Despegar.com during the 3rd quarter worth approximately $56,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Despegar.com during the 4th quarter worth approximately $104,000. FMR LLC acquired a new stake in shares of Despegar.com during the 3rd quarter worth approximately $173,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Despegar.com during the 3rd quarter worth approximately $252,000. Institutional investors and hedge funds own 67.93% of the company’s stock.

Despegar.com Price Performance

Despegar.com stock opened at $19.23 on Wednesday. The company’s fifty day moving average price is $19.21 and its 200 day moving average price is $16.37. Despegar.com, Corp. has a 1 year low of $9.25 and a 1 year high of $19.55.

Analyst Upgrades and Downgrades

DESP has been the topic of a number of analyst reports. Morgan Stanley raised their price objective on shares of Despegar.com from $17.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. TD Cowen raised shares of Despegar.com from a “sell” rating to a “hold” rating in a research note on Tuesday, December 24th. Finally, B. Riley cut shares of Despegar.com from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Despegar.com has a consensus rating of “Hold” and a consensus target price 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.