Verition Fund Management LLC acquired a new stake in shares of Despegar.com, Corp. (NYSE:DESP - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 29,362 shares of the company's stock, valued at approximately $364,000.
Other hedge funds have also recently made changes to their positions in the company. Amalgamated Bank bought a new stake in Despegar.com during the second quarter worth $28,000. LRI Investments LLC purchased a new stake in shares of Despegar.com in the second quarter valued at about $87,000. Sanctuary Advisors LLC bought a new position in shares of Despegar.com during the second quarter valued at about $128,000. MQS Management LLC purchased a new position in Despegar.com during the second quarter worth about $136,000. Finally, Catalytic Wealth RIA LLC bought a new stake in Despegar.com in the 2nd quarter worth about $172,000. 67.93% of the stock is currently owned by institutional investors and hedge funds.
Despegar.com Price Performance
Despegar.com stock traded up $0.25 during trading on Friday, hitting $17.13. The stock had a trading volume of 721,795 shares, compared to its average volume of 936,843. The stock's 50 day moving average is $15.59 and its two-hundred day moving average is $13.63. Despegar.com, Corp. has a 1 year low of $8.06 and a 1 year high of $19.00.
Analyst Ratings Changes
DESP has been the topic of several recent analyst reports. Morgan Stanley lifted their target price on shares of Despegar.com from $17.00 to $21.00 and gave the stock an "overweight" rating in a research report on Friday, November 29th. Cantor Fitzgerald restated an "overweight" rating and issued a $17.00 price objective on shares of Despegar.com in a research note on Friday, August 16th. Finally, TD Cowen cut Despegar.com from a "buy" rating to a "sell" rating and lifted their target price for the stock from $12.00 to $14.00 in a research note on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $17.20.
Check Out Our Latest Stock Report on Despegar.com
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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