Despegar.com (NYSE:DESP) Stock Rating Reaffirmed by Citigroup

Citigroup reaffirmed their neutral rating on shares of Despegar.com (NYSE:DESP) in a research report report published on Monday morning, Marketbeat Ratings reports. They currently have a $14.50 target price on the stock, up from their prior target price of $11.50.

DESP has been the topic of several other research reports. B. Riley reaffirmed a buy rating and issued a $16.00 price target (up previously from $15.00) on shares of Despegar.com in a research note on Friday, March 15th. Cantor Fitzgerald reissued an overweight rating and issued a $14.00 price objective on shares of Despegar.com in a research note on Friday, March 22nd.

Despegar.com Stock Up 2.6 %

Shares of NYSE DESP opened at $12.38 on Monday. The company has a market cap of $817.82 million, a P/E ratio of -47.61 and a beta of 2.03. Despegar.com has a 12 month low of $5.24 and a 12 month high of $13.23. The business’s 50 day moving average is $11.15 and its two-hundred day moving average is $9.33.

Institutional Investors Weigh In On Despegar.com

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DESP. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Despegar.com by 1.8% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,623,787 shares of the company’s stock worth $26,272,000 after acquiring an additional 63,650 shares in the last quarter. Artisan Partners Limited Partnership boosted its position in Despegar.com by 6.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,933,450 shares of the company’s stock valued at $18,290,000 after purchasing an additional 125,288 shares during the last quarter. Fourth Sail Capital LP acquired a new stake in shares of Despegar.com in the fourth quarter valued at approximately $12,954,000. Norges Bank acquired a new stake in shares of Despegar.com in the fourth quarter valued at approximately $6,622,000. Finally, Loomis Sayles & Co. L P lifted its position in shares of Despegar.com by 139.3% in the third quarter. Loomis Sayles & Co. L P now owns 673,966 shares of the company’s stock valued at $4,886,000 after buying an additional 392,366 shares during the last quarter. Institutional investors own 67.93% of the company’s stock.

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.