Mitsubishi UFJ Trust & Banking Corp trimmed its position in Despegar.com, Corp. (NYSE:DESP - Free Report) by 26.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,944,663 shares of the company's stock after selling 688,517 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 2.33% of Despegar.com worth $37,435,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Quantbot Technologies LP bought a new stake in Despegar.com during the fourth quarter valued at $935,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Despegar.com during the 4th quarter valued at about $68,000. Intech Investment Management LLC raised its stake in Despegar.com by 72.4% during the fourth quarter. Intech Investment Management LLC now owns 34,960 shares of the company's stock worth $673,000 after acquiring an additional 14,677 shares during the period. Counterpoint Mutual Funds LLC bought a new position in Despegar.com in the fourth quarter worth about $551,000. Finally, HighTower Advisors LLC boosted its stake in Despegar.com by 107.0% in the fourth quarter. HighTower Advisors LLC now owns 22,121 shares of the company's stock valued at $426,000 after acquiring an additional 11,434 shares during the period. 67.93% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts have recently weighed in on DESP shares. TD Cowen upgraded Despegar.com from a "sell" rating to a "hold" rating in a research report on Tuesday, December 24th. B. Riley lowered Despegar.com from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $17.20.
Check Out Our Latest Research Report on DESP
Despegar.com Stock Performance
Shares of NYSE DESP traded down $0.62 during midday trading on Friday, hitting $18.52. 12,138,708 shares of the company's stock were exchanged, compared to its average volume of 1,460,011. Despegar.com, Corp. has a twelve month low of $9.25 and a twelve month high of $19.55. The stock's 50 day moving average price is $19.21 and its 200-day moving average price is $16.98.
About Despegar.com
(
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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