Barclays PLC Grows Stake in Despegar.com, Corp. (NYSE:DESP)

Barclays PLC increased its stake in Despegar.com, Corp. (NYSE:DESP) by 298.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 91,888 shares of the company’s stock after purchasing an additional 68,829 shares during the quarter. Barclays PLC’s holdings in Despegar.com were worth $1,139,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Amalgamated Bank acquired a new position in Despegar.com in the 2nd quarter worth $28,000. Quarry LP lifted its stake in shares of Despegar.com by 107.1% in the third quarter. Quarry LP now owns 2,769 shares of the company’s stock worth $34,000 after acquiring an additional 1,432 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Despegar.com in the third quarter valued at about $56,000. Sanctuary Advisors LLC acquired a new stake in Despegar.com during the 2nd quarter valued at approximately $128,000. Finally, MQS Management LLC purchased a new stake in Despegar.com during the 2nd quarter worth approximately $136,000. 67.93% of the stock is currently owned by hedge funds and other institutional investors.

Despegar.com Stock Performance

NYSE DESP opened at $19.18 on Tuesday. The company has a 50-day moving average price of $17.44 and a two-hundred day moving average price of $14.26. Despegar.com, Corp. has a 52 week low of $8.06 and a 52 week high of $19.55.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. TD Cowen raised Despegar.com from a “sell” rating to a “hold” rating in a report on Tuesday, December 24th. Morgan Stanley boosted their price target on Despegar.com from $17.00 to $21.00 and gave the company an “overweight” rating in a report on Friday, November 29th. Two equities 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, the company currently has a consensus rating of “Moderate Buy” 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.