MayTech Global Investments LLC increased its stake in Despegar.com, Corp. (NYSE:DESP - Free Report) by 23.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,101,684 shares of the company's stock after buying an additional 207,023 shares during the period. Despegar.com accounts for about 1.8% of MayTech Global Investments LLC's holdings, making the stock its 18th largest holding. MayTech Global Investments LLC owned 1.67% of Despegar.com worth $13,661,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Amalgamated Bank bought a new position in shares of Despegar.com in the second quarter worth approximately $28,000. LRI Investments LLC purchased a new position in Despegar.com in the 2nd quarter worth approximately $87,000. Sanctuary Advisors LLC bought a new position in Despegar.com in the 2nd quarter valued at approximately $128,000. Bayesian Capital Management LP purchased a new stake in Despegar.com during the 1st quarter valued at $132,000. Finally, MQS Management LLC bought a new stake in shares of Despegar.com in the 2nd quarter worth $136,000. Institutional investors own 67.93% of the company's stock.
Despegar.com Stock Down 2.3 %
DESP stock traded down $0.41 during trading on Thursday, reaching $17.73. The stock had a trading volume of 542,104 shares, compared to its average volume of 938,230. The stock's 50 day moving average is $14.49 and its two-hundred day moving average is $13.36. Despegar.com, Corp. has a 52 week low of $7.83 and a 52 week high of $19.00.
Analysts Set New Price Targets
Several equities research analysts recently commented on DESP shares. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $17.00 price objective on shares of Despegar.com in a research report on Friday, August 16th. TD Cowen downgraded shares of Despegar.com from a "buy" rating to a "sell" rating and raised their price target for the company from $12.00 to $14.00 in a report on Monday.
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About Despegar.com
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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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