Alpine Global Management LLC Takes $770,000 Position in Despegar.com, Corp. (NYSE:DESP)

Alpine Global Management LLC bought a new stake in Despegar.com, Corp. (NYSE:DESP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 40,000 shares of the company’s stock, valued at approximately $770,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Gilder Gagnon Howe & Co. LLC lifted its stake in shares of Despegar.com by 1.1% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 93,473 shares of the company’s stock valued at $1,799,000 after purchasing an additional 1,010 shares during the period. Sterling Capital Management LLC lifted its stake in shares of Despegar.com by 756.8% in the 4th quarter. Sterling Capital Management LLC now owns 1,705 shares of the company’s stock valued at $33,000 after purchasing an additional 1,506 shares during the period. Legal & General Group Plc lifted its stake in shares of Despegar.com by 13.7% in the 4th quarter. Legal & General Group Plc now owns 13,199 shares of the company’s stock valued at $254,000 after purchasing an additional 1,588 shares during the period. State of Wyoming lifted its stake in shares of Despegar.com by 107.9% in the 4th quarter. State of Wyoming now owns 3,846 shares of the company’s stock valued at $74,000 after purchasing an additional 1,996 shares during the period. Finally, MetLife Investment Management LLC lifted its stake in shares of Despegar.com by 5.8% in the 4th quarter. MetLife Investment Management LLC now owns 37,706 shares of the company’s stock valued at $726,000 after purchasing an additional 2,070 shares during the period. Hedge funds and other institutional investors own 67.93% of the company’s stock.

Despegar.com Price Performance

DESP stock opened at $19.50 on Friday. Despegar.com, Corp. has a twelve month low of $9.25 and a twelve month high of $19.55. The firm has a market cap of $1.63 billion, a PE ratio of -650.00, a price-to-earnings-growth ratio of 0.91 and a beta of 1.61. The business has a 50 day moving average of $19.22 and a 200 day moving average of $18.61.

Despegar.com (NYSE:DESP) last posted its quarterly earnings data on Tuesday, April 29th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.61). Despegar.com had a net margin of 4.45% and a negative return on equity of 58.97%. The company had revenue of $210.30 million for the quarter, compared to the consensus estimate of $212.40 million. The firm’s revenue was up 8.7% on a year-over-year basis. On average, research analysts expect that Despegar.com, Corp. will post 0.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, B. Riley cut Despegar.com from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $16.75.

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.