State Street Corp Purchases 261,991 Shares of Despegar.com, Corp. (NYSE:DESP)

State Street Corp lifted its position in Despegar.com, Corp. (NYSE:DESP) by 37.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 958,706 shares of the company’s stock after purchasing an additional 261,991 shares during the quarter. State Street Corp’s holdings in Despegar.com were worth $11,888,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of DESP. Quarry LP raised its stake in shares of Despegar.com by 107.1% in the 3rd quarter. Quarry LP now owns 2,769 shares of the company’s stock valued at $34,000 after buying an additional 1,432 shares in the last quarter. Amalgamated Bank acquired a new position in Despegar.com in the second quarter worth about $28,000. Point72 Asset Management L.P. bought a new stake in shares of Despegar.com in the 3rd quarter valued at approximately $56,000. Hood River Capital Management LLC lifted its position 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 worth $191,000 after buying an additional 6,011 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in Despegar.com in the 2nd quarter valued at $128,000. 67.93% of the stock is currently owned by institutional investors and hedge funds.

Despegar.com Stock Down 0.1 %

NYSE:DESP opened at $19.45 on Thursday. The stock’s fifty day moving average price is $16.11 and its two-hundred day moving average price is $13.71. Despegar.com, Corp. has a 52-week low of $8.06 and a 52-week high of $19.55.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on DESP shares. TD Cowen raised shares of Despegar.com from a “sell” rating to a “hold” rating in a report on Tuesday. 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 report on Friday, November 29th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Despegar.com has a consensus rating of “Moderate Buy” and a consensus target price of $17.20.

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.