Verition Fund Management LLC Invests $364,000 in Despegar.com, Corp. (NYSE:DESP)

Verition Fund Management LLC acquired a new stake in Despegar.com, Corp. (NYSE:DESP) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 29,362 shares of the company’s stock, valued at approximately $364,000.

A number of other institutional investors also recently bought and sold shares of DESP. Amalgamated Bank acquired a new stake in shares of Despegar.com during the second quarter worth $28,000. LRI Investments LLC purchased a new position in Despegar.com in the 2nd quarter worth $87,000. Sanctuary Advisors LLC acquired a new stake in Despegar.com during the 2nd quarter worth about $128,000. MQS Management LLC purchased a new stake in Despegar.com during the 2nd quarter valued at about $136,000. Finally, Catalytic Wealth RIA LLC acquired a new position in shares of Despegar.com in the second quarter valued at about $172,000. 67.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DESP has been the subject of a number of recent research reports. Morgan Stanley raised their price target on shares of Despegar.com from $17.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, November 29th. TD Cowen cut shares of Despegar.com from a “buy” rating to a “sell” rating and raised their target price for the stock from $12.00 to $14.00 in a report on Monday, November 25th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $17.00 price target on shares of Despegar.com in a research report 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 assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $17.20.

Despegar.com Stock Performance

Shares of NYSE:DESP opened at $17.14 on Friday. Despegar.com, Corp. has a 52-week low of $8.06 and a 52-week high of $19.00. The business has a fifty day moving average of $15.59 and a two-hundred day moving average of $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.