Despegar.com (NYSE:DESP) Hits New 1-Year High at $13.12

Despegar.com, Corp. (NYSE:DESP) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $13.12 and last traded at $12.87, with a volume of 315805 shares traded. The stock had previously closed at $12.83.

Wall Street Analysts Forecast Growth

DESP has been the subject of a number of research analyst reports. B. Riley reissued a “buy” rating and issued a $16.00 price target (up from $15.00) on shares of Despegar.com in a research report on Friday, March 15th. Cantor Fitzgerald reissued an “overweight” rating and issued a $14.00 price target on shares of Despegar.com in a research report on Friday, March 22nd.

Despegar.com Price Performance

The business has a fifty day moving average of $10.15 and a 200 day moving average of $8.83. The stock has a market cap of $808.57 million, a price-to-earnings ratio of -47.08 and a beta of 2.05.

Hedge Funds Weigh In On Despegar.com

A number of hedge funds have recently added to or reduced their stakes in the company. Wealthsource Partners LLC increased its holdings in Despegar.com by 1.9% in the fourth quarter. Wealthsource Partners LLC now owns 59,799 shares of the company’s stock worth $566,000 after buying an additional 1,122 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Despegar.com by 83.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,617 shares of the company’s stock worth $44,000 after buying an additional 2,104 shares during the last quarter. HighTower Advisors LLC increased its holdings in Despegar.com by 20.0% in the fourth quarter. HighTower Advisors LLC now owns 12,947 shares of the company’s stock worth $67,000 after buying an additional 2,160 shares during the last quarter. Northern Trust Corp grew its holdings in Despegar.com by 12.2% during the second quarter. Northern Trust Corp now owns 28,085 shares of the company’s stock valued at $198,000 after purchasing an additional 3,044 shares during the last quarter. Finally, BNP Paribas Arbitrage SA acquired a new position in Despegar.com during the first quarter valued at approximately $38,000. Institutional investors and hedge funds own 67.93% of the company’s stock.

Despegar.com Company 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.