Exchange Traded Concepts LLC Trims Stock Position in Despegar.com, Corp. (NYSE:DESP)

Exchange Traded Concepts LLC cut its position in Despegar.com, Corp. (NYSE:DESP) by 22.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,169 shares of the company’s stock after selling 2,320 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Despegar.com were worth $157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. SG Americas Securities LLC raised its position in shares of Despegar.com by 187.5% in the fourth quarter. SG Americas Securities LLC now owns 28,939 shares of the company’s stock worth $557,000 after buying an additional 18,872 shares in the last quarter. Annex Advisory Services LLC bought a new position in Despegar.com in the 4th quarter worth about $9,499,000. Principal Financial Group Inc. purchased a new stake in shares of Despegar.com in the 3rd quarter valued at about $591,000. Franklin Resources Inc. bought a new stake in shares of Despegar.com during the 3rd quarter valued at about $395,000. Finally, Blankinship & Foster LLC purchased a new position in shares of Despegar.com during the third quarter worth about $288,000. 67.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DESP. Morgan Stanley raised their target price on shares of Despegar.com from $17.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, November 29th. TD Cowen upgraded shares of Despegar.com from a “sell” rating to a “hold” rating in a research report on Tuesday, December 24th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.20.

Despegar.com Price Performance

Shares of NYSE DESP opened at $19.22 on Friday. The stock’s 50-day moving average is $18.30 and its 200 day moving average is $14.82. Despegar.com, Corp. has a 1-year low of $8.06 and a 1-year high of $19.55.

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.