Principal Financial Group Inc. Raises Position in Despegar.com, Corp. (NYSE:DESP)

Principal Financial Group Inc. boosted its stake in shares of Despegar.com, Corp. (NYSE:DESP) by 9.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,162 shares of the company’s stock after purchasing an additional 4,528 shares during the period. Principal Financial Group Inc.’s holdings in Despegar.com were worth $1,004,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in DESP. TT International Asset Management LTD purchased a new position in Despegar.com in the third quarter valued at about $8,763,000. Woodson Capital Management LP grew its stake in Despegar.com by 78.4% during the 3rd quarter. Woodson Capital Management LP now owns 1,426,952 shares of the company’s stock worth $17,694,000 after buying an additional 626,952 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Despegar.com in the third quarter valued at approximately $6,765,000. Annex Advisory Services LLC acquired a new position in shares of Despegar.com during the fourth quarter valued at $9,499,000. Finally, Beaconlight Capital LLC raised its holdings in Despegar.com by 365.0% during the third quarter. Beaconlight Capital LLC now owns 589,468 shares of the company’s stock worth $7,309,000 after purchasing an additional 462,696 shares in the last quarter. 67.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on DESP. TD Cowen raised Despegar.com from a “sell” rating to a “hold” rating in a report on Tuesday, December 24th. Morgan Stanley increased their price objective on Despegar.com from $17.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.20.

Despegar.com Stock Up 0.1 %

Shares of DESP stock opened at $19.25 on Friday. The firm’s fifty day simple moving average is $19.22 and its 200 day simple moving average is $16.10. Despegar.com, Corp. has a 1 year low of $8.82 and a 1 year high of $19.55.

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.