Franklin Resources Inc. Purchases Shares of 31,339 Despegar.com, Corp. (NYSE:DESP)

Franklin Resources Inc. acquired a new position in Despegar.com, Corp. (NYSE:DESP) during the third quarter, according to its most recent filing with the SEC. The firm acquired 31,339 shares of the company’s stock, valued at approximately $395,000.

Several other hedge funds have also recently made changes to their positions in DESP. Hsbc Holdings PLC purchased a new stake in shares of Despegar.com in the 2nd quarter worth about $1,102,000. Principal Financial Group Inc. bought a new position in shares of Despegar.com during the third quarter valued at $591,000. MayTech Global Investments LLC lifted its position in Despegar.com by 23.1% during the third quarter. MayTech Global Investments LLC now owns 1,101,684 shares of the company’s stock valued at $13,661,000 after purchasing an additional 207,023 shares during the period. Rhumbline Advisers bought a new stake in shares of Despegar.com during the 2nd quarter valued at about $1,159,000. Finally, Yarra Square Partners LP increased its holdings in Despegar.com by 15.2% during the second quarter. Yarra Square Partners LP now owns 443,400 shares of the company’s stock valued at $5,866,000 after buying an additional 58,400 shares during the last quarter. 67.93% of the stock is owned by hedge funds and other institutional investors.

Despegar.com Stock Performance

Despegar.com stock opened at $19.25 on Wednesday. The company’s 50-day moving average price is $16.62 and its 200-day moving average price is $13.89. Despegar.com, Corp. has a twelve month low of $8.06 and a twelve month high of $19.55.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. TD Cowen upgraded Despegar.com from a “sell” rating to a “hold” rating in a research note on Tuesday, December 24th. Morgan Stanley upped their price target on Despegar.com from $17.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, November 29th. Two 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 a consensus target price 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.