Despegar.com (NYSE:DESP) Shares Up 3%

Despegar.com, Corp. (NYSE:DESP) was up 3% during trading on Tuesday . The company traded as high as $12.32 and last traded at $12.30. Approximately 84,548 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 919,349 shares. The stock had previously closed at $11.94.

Wall Street Analyst Weigh In

DESP has been the subject of several analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $17.00 price target on shares of Despegar.com in a report on Friday, August 16th. Citigroup raised their price objective on shares of Despegar.com from $14.50 to $15.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. B. Riley lifted their target price on shares of Despegar.com from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Finally, TD Cowen raised their price target on shares of Despegar.com from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th.

Despegar.com Price Performance

The stock has a 50-day simple moving average of $12.07 and a two-hundred day simple moving average of $11.98.

Institutional Investors Weigh In On Despegar.com

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sylebra Capital LLC lifted its holdings in shares of Despegar.com by 72.5% during the 2nd quarter. Sylebra Capital LLC now owns 2,923,275 shares of the company’s stock valued at $38,675,000 after buying an additional 1,228,824 shares during the period. Itau Unibanco Holding S.A. increased its position in Despegar.com by 107.0% during the second quarter. Itau Unibanco Holding S.A. now owns 2,072,713 shares of the company’s stock valued at $26,446,000 after acquiring an additional 1,071,213 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in Despegar.com by 6.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,933,450 shares of the company’s stock valued at $18,290,000 after acquiring an additional 125,288 shares during the period. Fourth Sail Capital LP purchased a new position in Despegar.com in the fourth quarter worth about $12,954,000. Finally, Coronation Fund Managers Ltd. bought a new stake in shares of Despegar.com during the 2nd quarter valued at about $15,680,000. Hedge funds and other institutional investors own 67.93% of the company’s stock.

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.