Despegar.com (NYSE:DESP) Sets New 1-Year High at $13.30

Shares of Despegar.com, Corp. (NYSE:DESP) reached a new 52-week high during trading on Monday . The stock traded as high as $13.30 and last traded at $13.25, with a volume of 746804 shares trading hands. The stock had previously closed at $12.30.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DESP. B. Riley reissued a “buy” rating and set a $16.00 target price (up from $15.00) on shares of Despegar.com in a research note on Friday, March 15th. Citigroup reissued a “neutral” rating and set a $14.50 target price (up from $11.50) on shares of Despegar.com in a research note on Monday, April 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $14.00 target price on shares of Despegar.com in a research note on Friday, March 22nd.

Despegar.com Trading Down 1.0 %

The firm has a market cap of $846.89 million, a PE ratio of -49.31 and a beta of 2.03. The company’s 50-day moving average is $11.48 and its 200 day moving average is $9.53.

Institutional Investors Weigh In On Despegar.com

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DESP. Fourth Sail Capital LP acquired a new position in shares of Despegar.com during the 4th quarter worth $12,954,000. Norges Bank acquired a new position in Despegar.com in the 4th quarter valued at $6,622,000. Loomis Sayles & Co. L P boosted its holdings in Despegar.com by 139.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 673,966 shares of the company’s stock valued at $4,886,000 after purchasing an additional 392,366 shares during the period. Yarra Square Partners LP bought a new stake in Despegar.com in the 1st quarter valued at $4,605,000. Finally, Artisan Partners Limited Partnership boosted its holdings in Despegar.com by 13.1% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,808,162 shares of the company’s stock valued at $13,109,000 after purchasing an additional 210,128 shares during the period. Hedge funds and other institutional investors own 67.93% of the company’s stock.

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.