Bares Capital Management Inc. reduced its position in shares of Despegar.com, Corp. (NYSE:DESP - Free Report) by 50.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 583,447 shares of the company's stock after selling 591,000 shares during the quarter. Despegar.com comprises 0.7% of Bares Capital Management Inc.'s portfolio, making the stock its 11th largest holding. Bares Capital Management Inc. owned about 0.88% of Despegar.com worth $7,235,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Amalgamated Bank acquired a new stake in Despegar.com during the second quarter valued at $28,000. Quarry LP lifted its position in shares of Despegar.com by 107.1% in the third quarter. Quarry LP now owns 2,769 shares of the company's stock worth $34,000 after buying an additional 1,432 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Despegar.com in the third quarter worth about $56,000. LRI Investments LLC acquired a new stake in shares of Despegar.com in the second quarter worth about $87,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Despegar.com in the second quarter worth about $128,000. 67.93% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on DESP. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $17.00 price target on shares of Despegar.com in a research report on Friday, August 16th. TD Cowen cut Despegar.com from a "buy" rating to a "sell" rating and boosted their price objective for the stock from $12.00 to $14.00 in a research report on Monday, November 25th. Finally, Morgan Stanley boosted their price objective on Despegar.com from $17.00 to $21.00 and gave the stock an "overweight" rating in a research report on Friday, November 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Despegar.com presently has an average rating of "Hold" and a consensus target price of $17.20.
Check Out Our Latest Report on Despegar.com
Despegar.com Trading Down 2.4 %
DESP traded down $0.41 on Tuesday, hitting $16.57. 632,258 shares of the stock traded hands, compared to its average volume of 938,006. Despegar.com, Corp. has a 52 week low of $8.06 and a 52 week high of $19.00. The business has a fifty day moving average price of $15.26 and a two-hundred day moving average price of $13.57.
Despegar.com Company Profile
(
Free Report)
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.
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