Despegar.com, Corp. (NYSE:DESP) Shares Purchased by HighTower Advisors LLC

HighTower Advisors LLC grew its stake in shares of Despegar.com, Corp. (NYSE:DESP) by 107.0% during the fourth quarter, HoldingsChannel reports. The firm owned 22,121 shares of the company’s stock after buying an additional 11,434 shares during the period. HighTower Advisors LLC’s holdings in Despegar.com were worth $426,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of DESP. Quarry LP grew its holdings 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 in the last quarter. Point72 Asset Management L.P. purchased a new position in Despegar.com in the 3rd quarter valued at about $56,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Despegar.com during the fourth quarter valued at about $104,000. FMR LLC purchased a new stake in shares of Despegar.com during the third quarter worth about $173,000. Finally, Intech Investment Management LLC acquired a new position in shares of Despegar.com in the third quarter worth about $252,000. Hedge funds and other institutional investors own 67.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on DESP shares. B. Riley downgraded Despegar.com from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. TD Cowen upgraded shares of Despegar.com from a “sell” rating to a “hold” rating in a research note on Tuesday, December 24th. 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 presently has a consensus rating of “Hold” and an average price target of $17.20.

Despegar.com Stock Performance

Shares of NYSE DESP opened at $18.79 on Tuesday. The stock’s 50 day moving average price is $19.21 and its two-hundred day moving average price is $17.06. Despegar.com, Corp. has a 52-week low of $9.25 and a 52-week high of $19.55.

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.