Jacobs Levy Equity Management Inc. bought a new stake in Despegar.com, Corp. (NYSE:DESP - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 545,554 shares of the company's stock, valued at approximately $6,765,000. Jacobs Levy Equity Management Inc. owned approximately 0.83% of Despegar.com as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Amalgamated Bank purchased a new position in Despegar.com during the 2nd quarter valued at about $28,000. LRI Investments LLC acquired a new stake in Despegar.com in the 2nd quarter valued at about $87,000. Sanctuary Advisors LLC purchased a new position in shares of Despegar.com in the 2nd quarter valued at about $128,000. MQS Management LLC purchased a new position in shares of Despegar.com in the 2nd quarter valued at about $136,000. Finally, Catalytic Wealth RIA LLC acquired a new position in shares of Despegar.com during the second quarter worth about $172,000. 67.93% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on DESP shares. TD Cowen lowered shares of Despegar.com from a "buy" rating to a "sell" rating and upped their target price for the stock from $12.00 to $14.00 in a research note on Monday, November 25th. Cantor Fitzgerald restated an "overweight" rating and set a $17.00 target price on shares of Despegar.com in a research note on Friday, August 16th. Finally, Morgan Stanley upped their target price on shares of Despegar.com from $17.00 to $21.00 and gave the stock an "overweight" rating in a research note on Friday, November 29th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Despegar.com has an average rating of "Hold" and an average price target of $17.20.
Check Out Our Latest Stock Analysis on Despegar.com
Despegar.com Stock Performance
Despegar.com stock traded up $0.34 during mid-day trading on Friday, hitting $17.52. The company had a trading volume of 774,853 shares, compared to its average volume of 940,728. 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 $15.08 and a 200 day moving average of $13.55.
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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