Despegar.com (NYSE:DESP) Sets New 12-Month High – Here’s What Happened

Despegar.com, Corp. (NYSE:DESP)’s share price hit a new 52-week high on Monday . The stock traded as high as $19.43 and last traded at $19.43, with a volume of 797547 shares. The stock had previously closed at $14.65.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Morgan Stanley increased their price target on Despegar.com from $17.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. TD Cowen lowered Despegar.com from a “buy” rating to a “sell” rating and raised their price objective for the company from $12.00 to $14.00 in a research report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Despegar.com has a consensus rating of “Hold” and an average price target of $17.20.

Despegar.com Stock Up 31.3 %

The stock has a fifty day moving average price of $15.84 and a 200 day moving average price of $13.64.

Institutional Trading of Despegar.com

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sylebra Capital LLC grew its stake in Despegar.com by 72.5% in the 2nd quarter. Sylebra Capital LLC now owns 2,923,275 shares of the company’s stock worth $38,675,000 after acquiring an additional 1,228,824 shares in the last quarter. Itau Unibanco Holding S.A. increased its holdings in Despegar.com by 107.0% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 2,072,713 shares of the company’s stock worth $26,446,000 after purchasing an additional 1,071,213 shares during the period. Coronation Fund Managers Ltd. bought a new stake in Despegar.com during the 2nd quarter valued at $13,936,000. MayTech Global Investments LLC purchased a new stake in shares of Despegar.com in the 2nd quarter worth $11,836,000. Finally, TT International Asset Management LTD purchased a new position in shares of Despegar.com during the third quarter valued at $8,763,000. 67.93% of the stock is owned by hedge funds and other institutional investors.

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.