Norges Bank Invests $6.62 Million in Despegar.com, Corp. (NYSE:DESP)

Norges Bank bought a new position in shares of Despegar.com, Corp. (NYSE:DESPFree Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 700,000 shares of the company’s stock, valued at approximately $6,622,000. Norges Bank owned about 1.06% of Despegar.com at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in 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 valued at $26,272,000 after acquiring an additional 63,650 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in Despegar.com by 13.1% in the third quarter. Artisan Partners Limited Partnership now owns 1,808,162 shares of the company’s stock valued at $13,109,000 after acquiring an additional 210,128 shares during the last quarter. Fourth Sail Capital LP acquired a new position in Despegar.com in the fourth quarter valued at approximately $12,954,000. Loomis Sayles & Co. L P lifted its holdings in 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 acquiring an additional 392,366 shares during the last quarter. Finally, TimesSquare Capital Management LLC lifted its holdings in Despegar.com by 27.5% in the fourth quarter. TimesSquare Capital Management LLC now owns 396,400 shares of the company’s stock valued at $3,750,000 after acquiring an additional 85,600 shares during the last quarter. 67.93% of the stock is currently owned by institutional investors and hedge funds.

Despegar.com Price Performance

Shares of NYSE DESP opened at $14.62 on Friday. Despegar.com, Corp. has a 52-week low of $6.09 and a 52-week high of $15.82. The business’s 50 day moving average is $13.04 and its two-hundred day moving average is $10.57.

Wall Street Analyst Weigh In

A number of research analysts recently commented on DESP shares. B. Riley upped their price objective on Despegar.com from $16.00 to $19.00 and gave the company a “buy” rating in a report on Friday, May 17th. Cantor Fitzgerald upped their price objective on Despegar.com from $14.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, May 17th. Finally, Citigroup reissued a “neutral” rating and issued a $14.50 target price (up previously from $11.50) on shares of Despegar.com in a research report on Monday, April 29th.

Read Our Latest Report on Despegar.com

About Despegar.com

(Free Report)

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.

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Institutional Ownership by Quarter for Despegar.com (NYSE:DESP)

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