Principal Financial Group Inc. Buys Shares of 47,634 Despegar.com, Corp. (NYSE:DESP)

Principal Financial Group Inc. purchased a new position in Despegar.com, Corp. (NYSE:DESP) in the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 47,634 shares of the company’s stock, valued at approximately $591,000.

Several other institutional investors have also modified their holdings of the company. Hsbc Holdings PLC bought a new stake in Despegar.com in the second quarter worth about $1,102,000. MayTech Global Investments LLC boosted its position in shares of Despegar.com by 23.1% in the 3rd quarter. MayTech Global Investments LLC now owns 1,101,684 shares of the company’s stock valued at $13,661,000 after purchasing an additional 207,023 shares during the period. Rhumbline Advisers acquired a new stake in shares of Despegar.com during the second quarter valued at approximately $1,159,000. Franklin Resources Inc. purchased a new stake in shares of Despegar.com in the 3rd quarter valued at approximately $395,000. Finally, Yarra Square Partners LP boosted its stake in Despegar.com by 15.2% in the 2nd quarter. Yarra Square Partners LP now owns 443,400 shares of the company’s stock worth $5,866,000 after purchasing an additional 58,400 shares during the period. Institutional investors and hedge funds own 67.93% of the company’s stock.

Analysts Set New Price Targets

DESP has been the topic of several recent analyst reports. TD Cowen raised shares of Despegar.com from a “sell” rating to a “hold” rating in a research note on Tuesday, December 24th. Morgan Stanley lifted 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. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.20.

Despegar.com Price Performance

DESP stock opened at $19.15 on Monday. The firm has a 50 day moving average of $16.89 and a two-hundred day moving average of $14.00. Despegar.com, Corp. has a 12 month low of $8.06 and a 12 month high of $19.55.

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.