JPMorgan Chase & Co. Lowers Position in Despegar.com, Corp. (NYSE:DESP)

JPMorgan Chase & Co. reduced its position in Despegar.com, Corp. (NYSE:DESP - Free Report) by 12.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 463,344 shares of the company's stock after selling 66,494 shares during the quarter. JPMorgan Chase & Co. owned 0.70% of Despegar.com worth $5,745,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Amalgamated Bank purchased a new position in Despegar.com in the 2nd quarter worth $28,000. Quarry LP increased its holdings 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 period. Point72 Asset Management L.P. purchased a new position in shares of Despegar.com in the third quarter worth about $56,000. Sanctuary Advisors LLC bought a new stake in shares of Despegar.com in the 2nd quarter valued at about $128,000. Finally, MQS Management LLC purchased a new stake in Despegar.com during the 2nd quarter valued at about $136,000. 67.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DESP has been the topic of a number of analyst reports. Morgan Stanley lifted their price target on Despegar.com from $17.00 to $21.00 and gave the stock an "overweight" rating in a research note 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 investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $17.20.

Despegar.com Stock Up 0.2 %

NYSE DESP traded up $0.04 during trading on Friday, hitting $19.18. The company had a trading volume of 931,333 shares, compared to its average volume of 3,144,539. The company's fifty day moving average is $17.78 and its 200-day moving average is $14.41. Despegar.com, Corp. has a one year low of $8.06 and a one year high of $19.55.

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.