Despegar.com, Corp. (NYSE:DESP) Holdings Raised by State Street Corp

State Street Corp grew its stake in shares of Despegar.com, Corp. (NYSE:DESP) by 37.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 958,706 shares of the company’s stock after acquiring an additional 261,991 shares during the period. State Street Corp owned 1.45% of Despegar.com worth $11,888,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Amalgamated Bank acquired a new stake in Despegar.com in the second quarter valued at approximately $28,000. Quarry LP increased its stake in shares of Despegar.com by 107.1% during the 3rd quarter. Quarry LP now owns 2,769 shares of the company’s stock worth $34,000 after purchasing an additional 1,432 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Despegar.com during the 3rd quarter valued at $56,000. Sanctuary Advisors LLC acquired a new stake in shares of Despegar.com in the 2nd quarter valued at $128,000. Finally, MQS Management LLC bought a new stake in Despegar.com in the second quarter worth $136,000. 67.93% of the stock is owned by institutional investors and hedge funds.

Despegar.com Price Performance

DESP opened at $19.45 on Thursday. The business has a 50 day moving average of $16.11 and a 200-day moving average of $13.71. Despegar.com, Corp. has a 1-year low of $8.06 and a 1-year high of $19.55.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DESP. TD Cowen raised Despegar.com from a “sell” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley boosted their target price on Despegar.com from $17.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” 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.