Jacobs Levy Equity Management Inc. Takes Position in Despegar.com, Corp. (NYSE:DESP)

Jacobs Levy Equity Management Inc. bought a new stake in Despegar.com, Corp. (NYSE:DESP) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 545,554 shares of the company’s stock, valued at approximately $6,765,000.

Other hedge funds have also recently modified their holdings of the company. Hsbc Holdings PLC acquired a new position in Despegar.com in the 2nd quarter valued at about $1,102,000. SG Americas Securities LLC purchased a new stake in Despegar.com in the second quarter valued at approximately $2,006,000. Principal Financial Group Inc. purchased a new position in Despegar.com during the 3rd quarter worth $591,000. MayTech Global Investments LLC raised its stake in shares of Despegar.com by 23.1% during the third quarter. MayTech Global Investments LLC now owns 1,101,684 shares of the company’s stock worth $13,661,000 after purchasing an additional 207,023 shares during the last quarter. Finally, Rhumbline Advisers purchased a new position in Despegar.com during the 2nd quarter worth $1,159,000. Hedge funds and other institutional investors own 67.93% of the company’s stock.

Despegar.com Stock Up 2.8 %

Shares of DESP opened at $17.17 on Friday. The business’s 50 day moving average is $15.08 and its two-hundred day moving average is $13.55. Despegar.com, Corp. has a 52-week low of $8.06 and a 52-week high of $19.00.

Analyst Ratings Changes

DESP has been the topic of a number of research analyst reports. TD Cowen downgraded shares of Despegar.com from a “buy” rating to a “sell” rating and boosted their price objective for the stock from $12.00 to $14.00 in a report on Monday, November 25th. Cantor Fitzgerald reissued an “overweight” rating and set a $17.00 price objective on shares of Despegar.com in a research note on Friday, August 16th. Finally, Morgan Stanley upped their target price on Despegar.com from $17.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, November 29th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $17.20.

Despegar.com 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.