Franklin Resources Inc. Invests $395,000 in Despegar.com, Corp. (NYSE:DESP)

Franklin Resources Inc. bought a new position in Despegar.com, Corp. (NYSE:DESP - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 31,339 shares of the company's stock, valued at approximately $395,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DESP. Amalgamated Bank acquired a new position in shares of Despegar.com in the 2nd quarter worth approximately $28,000. Quarry LP grew its position in 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. bought a new position in shares of Despegar.com in the third quarter valued at $56,000. Sanctuary Advisors LLC acquired a new stake in shares of Despegar.com during the 2nd quarter valued at $128,000. Finally, MQS Management LLC bought a new stake in shares of Despegar.com during the 2nd quarter worth $136,000. 67.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Morgan Stanley upped their target price on Despegar.com from $17.00 to $21.00 and gave the company an "overweight" rating in a report on Friday, November 29th. TD Cowen raised shares of Despegar.com from a "sell" rating to a "hold" rating in a research note on Tuesday, December 24th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $17.20.

Despegar.com Trading Down 0.2 %

NYSE DESP traded down $0.03 during trading on Wednesday, reaching $19.25. 1,143,987 shares of the company's stock were exchanged, compared to its average volume of 1,009,285. Despegar.com, Corp. has a fifty-two week low of $8.06 and a fifty-two week high of $19.55. The company's fifty day simple moving average is $16.72 and its 200-day simple moving average is $13.92.

Despegar.com Company Profile

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.