Bank of New York Mellon Corp Sells 2,581 Shares of Despegar.com, Corp. (NYSE:DESP)

Bank of New York Mellon Corp lowered its holdings in shares of Despegar.com, Corp. (NYSE:DESP) by 1.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 144,859 shares of the company’s stock after selling 2,581 shares during the quarter. Bank of New York Mellon Corp’s holdings in Despegar.com were worth $2,789,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of DESP. Quarry LP raised its stake in Despegar.com by 107.1% during the 3rd quarter. Quarry LP now owns 2,769 shares of the company’s stock valued at $34,000 after purchasing an additional 1,432 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Despegar.com in the 3rd quarter worth $56,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Despegar.com during the fourth quarter valued at approximately $104,000. FMR LLC bought a new stake in Despegar.com in the third quarter worth $173,000. Finally, Intech Investment Management LLC bought a new position in shares of Despegar.com during the third quarter valued at approximately $252,000. Hedge funds and other institutional investors own 67.93% of the company’s stock.

Despegar.com Stock Performance

Shares of NYSE:DESP opened at $19.24 on Friday. Despegar.com, Corp. has a 52-week low of $9.25 and a 52-week high of $19.55. The business has a 50-day moving average price of $19.23 and a 200-day moving average price of $16.65.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. TD Cowen upgraded shares of Despegar.com from a “sell” rating to a “hold” rating in a report on Tuesday, December 24th. B. Riley cut Despegar.com from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Finally, Morgan Stanley raised their price objective on Despegar.com from $17.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, November 29th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average 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.