Verition Fund Management LLC Takes Position in Despegar.com, Corp. (NYSE:DESP)

Verition Fund Management LLC bought a new position in Despegar.com, Corp. (NYSE:DESP) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 29,362 shares of the company’s stock, valued at approximately $364,000.

Other large investors also recently added to or reduced their stakes in the company. Amalgamated Bank purchased a new stake in shares of Despegar.com during the second quarter worth about $28,000. Hood River Capital Management LLC lifted its holdings in Despegar.com by 71.1% in the 2nd quarter. Hood River Capital Management LLC now owns 14,461 shares of the company’s stock worth $191,000 after buying an additional 6,011 shares during the period. LRI Investments LLC purchased a new position in shares of Despegar.com during the second quarter valued at approximately $87,000. Sanctuary Advisors LLC bought a new position in shares of Despegar.com during the second quarter valued at approximately $128,000. Finally, MQS Management LLC purchased a new stake in Despegar.com in the second quarter worth $136,000. Hedge funds and other institutional investors own 67.93% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on DESP shares. TD Cowen lowered Despegar.com from a “buy” rating to a “sell” rating and increased their target price for the stock from $12.00 to $14.00 in a research report on Monday, November 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $17.00 price objective on shares of Despegar.com in a report on Friday, August 16th. Finally, Morgan Stanley boosted their target price on shares of Despegar.com from $17.00 to $21.00 and gave the company an “overweight” rating in a report on Friday, November 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.20.

Despegar.com Trading Up 1.5 %

NYSE:DESP opened at $17.14 on Friday. The stock has a 50-day moving average price of $15.59 and a 200 day moving average price of $13.64. Despegar.com, Corp. has a 12-month low of $8.06 and a 12-month high of $19.00.

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.