Despegar.com, Corp. (NYSE:DESP) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp cut its holdings in Despegar.com, Corp. (NYSE:DESP) by 26.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,944,663 shares of the company’s stock after selling 688,517 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 2.33% of Despegar.com worth $37,435,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in DESP. Quarry LP grew its position in shares of Despegar.com by 107.1% in the third quarter. Quarry LP now owns 2,769 shares of the company’s stock valued at $34,000 after purchasing an additional 1,432 shares during the period. Point72 Asset Management L.P. purchased a new stake in Despegar.com in the 3rd quarter valued at about $56,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Despegar.com during the 4th quarter valued at about $68,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Despegar.com during the 4th quarter worth about $104,000. Finally, FMR LLC purchased a new position in shares of Despegar.com during the 3rd quarter worth about $173,000. Hedge funds and other institutional investors own 67.93% of the company’s stock.

Despegar.com Stock Up 0.2 %

Shares of DESP stock opened at $19.17 on Thursday. Despegar.com, Corp. has a fifty-two week low of $9.25 and a fifty-two week high of $19.55. The firm’s 50 day moving average price is $19.23 and its two-hundred day moving average price is $16.89.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on DESP. TD Cowen upgraded shares of Despegar.com from a “sell” rating to a “hold” rating in a report on Tuesday, December 24th. Morgan Stanley boosted their price objective on shares of Despegar.com from $17.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, November 29th. Finally, B. Riley downgraded Despegar.com from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Despegar.com presently has a consensus rating of “Hold” and an average price target of $17.20.

About Despegar.com

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.