Despegar.com (NYSE:DESP) Sets New 1-Year High at $13.30

Despegar.com, Corp. (NYSE:DESP) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $13.30 and last traded at $13.25, with a volume of 746804 shares trading hands. The stock had previously closed at $12.30.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on DESP shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $14.00 price target on shares of Despegar.com in a research note on Friday, March 22nd. B. Riley reissued a “buy” rating and issued a $16.00 target price (up from $15.00) on shares of Despegar.com in a report on Friday, March 15th. Finally, Citigroup reissued a “neutral” rating and issued a $14.50 target price (up from $11.50) on shares of Despegar.com in a report on Monday, April 29th.

Despegar.com Price Performance

The business has a 50-day simple moving average of $11.48 and a 200 day simple moving average of $9.53. The firm has a market cap of $846.89 million, a PE ratio of -49.31 and a beta of 2.03.

Institutional Trading of Despegar.com

Several institutional investors have recently made changes to their positions in the business. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Despegar.com by 1.8% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,623,787 shares of the company’s stock valued at $26,272,000 after purchasing an additional 63,650 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in shares of Despegar.com by 6.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,933,450 shares of the company’s stock worth $18,290,000 after acquiring an additional 125,288 shares during the last quarter. Fourth Sail Capital LP bought a new stake in shares of Despegar.com during the 4th quarter worth approximately $12,954,000. Norges Bank bought a new stake in shares of Despegar.com during the 4th quarter worth approximately $6,622,000. Finally, Loomis Sayles & Co. L P lifted its stake in shares of Despegar.com by 139.3% during the 3rd quarter. Loomis Sayles & Co. L P now owns 673,966 shares of the company’s stock worth $4,886,000 after acquiring an additional 392,366 shares during the last quarter. Hedge funds and other institutional investors 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.