Alpine Associates Management Inc. Invests $5.91 Million in Despegar.com, Corp. (NYSE:DESP)

Alpine Associates Management Inc. purchased a new position in Despegar.com, Corp. (NYSE:DESP) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 307,000 shares of the company’s stock, valued at approximately $5,910,000. Alpine Associates Management Inc. owned approximately 0.37% of Despegar.com at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of DESP. Quarry LP lifted 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 in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Despegar.com in the third quarter worth approximately $56,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Despegar.com in the fourth quarter worth approximately $104,000. FMR LLC bought a new position in shares of Despegar.com in the third quarter worth approximately $173,000. Finally, Intech Investment Management LLC bought a new position in shares of Despegar.com in the third quarter worth approximately $252,000. 67.93% of the stock is owned by hedge funds and other institutional investors.

Despegar.com Stock Performance

Shares of Despegar.com stock opened at $19.26 on Friday. Despegar.com, Corp. has a 52-week low of $9.25 and a 52-week high of $19.55. The company’s 50 day moving average price is $19.22 and its 200-day moving average price is $16.22.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. TD Cowen upgraded shares of Despegar.com from a “sell” rating to a “hold” rating in a research report on Tuesday, December 24th. B. Riley cut shares of Despegar.com from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Finally, Morgan Stanley increased their price target on shares of Despegar.com from $17.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $17.20.

Despegar.com 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.