Point72 Asset Management L.P. Purchases New Shares in Despegar.com, Corp. (NYSE:DESP)

Point72 Asset Management L.P. acquired a new position in shares of Despegar.com, Corp. (NYSE:DESP) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,522 shares of the company’s stock, valued at approximately $56,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LRI Investments LLC bought a new stake in shares of Despegar.com during the second quarter valued at approximately $87,000. Bank of New York Mellon Corp acquired a new position in Despegar.com during the 2nd quarter worth $2,618,000. Catalytic Wealth RIA LLC bought a new position in Despegar.com in the 2nd quarter valued at $172,000. Rhumbline Advisers acquired a new stake in shares of Despegar.com in the 2nd quarter valued at $1,159,000. Finally, Allegheny Financial Group LTD bought a new stake in shares of Despegar.com during the second quarter worth $407,000. Institutional investors and hedge funds own 67.93% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on DESP. TD Cowen lowered Despegar.com from a “buy” rating to a “sell” rating and lifted their price objective for the stock from $12.00 to $14.00 in a research report on Monday, November 25th. Morgan Stanley raised their target price on shares of Despegar.com from $17.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, November 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $17.00 price target on shares of Despegar.com in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $17.20.

Despegar.com Price Performance

NYSE:DESP opened at $17.14 on Friday. Despegar.com, Corp. has a 1-year low of $8.06 and a 1-year high of $19.00. The business’s 50-day moving average price is $15.59 and its two-hundred day moving average price is $13.64.

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.