TT International Asset Management LTD Makes New $8.76 Million Investment in Despegar.com, Corp. (NYSE:DESP)

TT International Asset Management LTD purchased a new stake in Despegar.com, Corp. (NYSE:DESP - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 706,704 shares of the company's stock, valued at approximately $8,763,000. Despegar.com comprises about 1.1% of TT International Asset Management LTD's portfolio, making the stock its 17th largest holding. TT International Asset Management LTD owned 1.07% of Despegar.com at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Sylebra Capital LLC increased its holdings in Despegar.com by 72.5% during the second quarter. Sylebra Capital LLC now owns 2,923,275 shares of the company's stock valued at $38,675,000 after buying an additional 1,228,824 shares during the period. Itau Unibanco Holding S.A. lifted its position in Despegar.com by 1.3% during the third quarter. Itau Unibanco Holding S.A. now owns 2,099,156 shares of the company's stock valued at $26,030,000 after purchasing an additional 26,443 shares during the period. Woodson Capital Management LP raised its position in shares of Despegar.com by 78.4% in the third quarter. Woodson Capital Management LP now owns 1,426,952 shares of the company's stock worth $17,694,000 after acquiring an additional 626,952 shares during the period. Coronation Fund Managers Ltd. acquired a new position in shares of Despegar.com in the second quarter worth about $15,680,000. Finally, MayTech Global Investments LLC increased its stake in shares of Despegar.com by 23.1% during the third quarter. MayTech Global Investments LLC now owns 1,101,684 shares of the company's stock worth $13,661,000 after purchasing an additional 207,023 shares in the last quarter. Institutional investors own 67.93% of the company's stock.

Analysts Set New Price Targets

DESP has been the subject of several research reports. Morgan Stanley upped their price objective 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 downgraded shares of Despegar.com from a "buy" rating to a "sell" rating and raised their price objective for the stock from $12.00 to $14.00 in a research report on Monday, November 25th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $17.00 target price on shares of Despegar.com in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $17.20.

Despegar.com Price Performance

Shares of Despegar.com stock traded up $0.53 during trading hours on Wednesday, hitting $17.10. The company's stock had a trading volume of 419,863 shares, compared to its average volume of 935,926. Despegar.com, Corp. has a 1-year low of $8.06 and a 1-year high of $19.00. The business has a fifty day moving average of $15.35 and a 200 day moving average of $13.58.

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.