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

Charles Schwab Investment Management Inc. cut its position in shares of Despegar.com, Corp. (NYSE:DESP) by 8.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 235,802 shares of the company’s stock after selling 20,924 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Despegar.com were worth $4,539,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Intech Investment Management LLC acquired a new position in shares of Despegar.com in the third quarter worth about $252,000. Algert Global LLC acquired a new position in Despegar.com in the 3rd quarter worth about $878,000. FMR LLC purchased a new position in Despegar.com during the third quarter worth approximately $173,000. MetLife Investment Management LLC boosted its position in Despegar.com by 129.1% during the third quarter. MetLife Investment Management LLC now owns 35,636 shares of the company’s stock worth $442,000 after purchasing an additional 20,080 shares in the last quarter. Finally, Beaconlight Capital LLC grew its holdings in Despegar.com by 365.0% in the third quarter. Beaconlight Capital LLC now owns 589,468 shares of the company’s stock valued at $7,309,000 after purchasing an additional 462,696 shares during the period. Institutional investors and hedge funds own 67.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. B. Riley downgraded Despegar.com from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. TD Cowen raised shares of Despegar.com from a “sell” rating to a “hold” rating in a report on Tuesday, December 24th. Finally, Morgan Stanley lifted their target price on shares of Despegar.com from $17.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Despegar.com currently has a consensus rating of “Hold” and a consensus price target of $17.20.

Despegar.com Trading Down 0.4 %

Shares of DESP opened at $19.13 on Wednesday. The stock has a 50 day moving average price of $19.23 and a 200 day moving average price of $16.87. Despegar.com, Corp. has a one year low of $9.25 and a one 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.