Beaconlight Capital LLC Raises Stake in Despegar.com, Corp. (NYSE:DESP)

Beaconlight Capital LLC lifted its position in shares of Despegar.com, Corp. (NYSE:DESP) by 365.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 589,468 shares of the company’s stock after purchasing an additional 462,696 shares during the period. Despegar.com comprises approximately 3.0% of Beaconlight Capital LLC’s portfolio, making the stock its 16th largest position. Beaconlight Capital LLC owned approximately 0.89% of Despegar.com worth $7,309,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of DESP. Amalgamated Bank purchased a new stake in Despegar.com during the second quarter worth approximately $28,000. LRI Investments LLC purchased a new stake in shares of Despegar.com during the 2nd quarter worth approximately $87,000. Sanctuary Advisors LLC purchased a new stake in shares of Despegar.com during the 2nd quarter worth approximately $128,000. Bayesian Capital Management LP purchased a new stake in Despegar.com in the first quarter valued at $132,000. Finally, MQS Management LLC purchased a new stake in Despegar.com in the second quarter valued at $136,000. 67.93% of the stock is owned by hedge funds and other institutional investors.

Despegar.com Stock Up 0.6 %

DESP stock traded up $0.11 on Wednesday, hitting $18.25. The company’s stock had a trading volume of 15,704 shares, compared to its average volume of 935,881. The firm has a 50 day moving average of $14.38 and a two-hundred day moving average of $13.33. Despegar.com, Corp. has a 1 year low of $7.83 and a 1 year high of $19.00.

Wall Street Analysts Forecast Growth

DESP has been the subject of a number of research reports. TD Cowen cut shares of Despegar.com from a “buy” rating to a “sell” rating and boosted their price target for the company from $12.00 to $14.00 in a research report on Monday. Cantor Fitzgerald reissued an “overweight” rating and issued a $17.00 target price on shares of Despegar.com in a report on Friday, August 16th.

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.