Point72 Asset Management L.P. Invests $56,000 in Despegar.com, Corp. (NYSE:DESP)

Point72 Asset Management L.P. purchased a new stake in Despegar.com, Corp. (NYSE:DESP) in the 3rd quarter, Holdings Channel reports. The firm purchased 4,522 shares of the company’s stock, valued at approximately $56,000.

Several other hedge funds have also added to or reduced their stakes in the business. Amalgamated Bank acquired a new position in Despegar.com in the second quarter valued at about $28,000. Hood River Capital Management LLC lifted its holdings in shares of Despegar.com by 71.1% during the 2nd quarter. Hood River Capital Management LLC now owns 14,461 shares of the company’s stock valued at $191,000 after purchasing an additional 6,011 shares in the last quarter. LRI Investments LLC acquired a new position in shares of Despegar.com in the 2nd quarter valued at approximately $87,000. Sanctuary Advisors LLC bought a new stake in Despegar.com during the 2nd quarter worth approximately $128,000. Finally, MQS Management LLC acquired a new stake in Despegar.com during the 2nd quarter worth approximately $136,000. Institutional investors and hedge funds own 67.93% of the company’s stock.

Despegar.com Trading Up 1.5 %

NYSE DESP opened at $17.14 on Friday. The firm’s 50 day moving average is $15.59 and its 200-day moving average is $13.64. Despegar.com, Corp. has a 12-month low of $8.06 and a 12-month high of $19.00.

Wall Street Analysts Forecast Growth

DESP has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of Despegar.com from $17.00 to $21.00 and gave the company an “overweight” rating in a report on Friday, November 29th. TD Cowen lowered shares of Despegar.com from a “buy” rating to a “sell” rating and upped their target price for the stock from $12.00 to $14.00 in a research note on Monday, November 25th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $17.00 price target on shares of Despegar.com in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $17.20.

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.