Despegar.com (NYSE:DESP) Hits New 52-Week High – Should You Buy?

Despegar.com, Corp. (NYSE:DESP) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $18.99 and last traded at $18.99, with a volume of 75275 shares changing hands. The stock had previously closed at $17.71.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DESP. TD Cowen raised their target price on shares of Despegar.com from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Cantor Fitzgerald restated an “overweight” rating and issued a $17.00 price objective on shares of Despegar.com in a research report on Friday, August 16th.

Despegar.com Trading Up 1.4 %

The business’s fifty day moving average is $14.04 and its 200 day moving average is $13.21.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sylebra Capital LLC boosted its stake in shares of Despegar.com by 72.5% during the second quarter. Sylebra Capital LLC now owns 2,923,275 shares of the company’s stock valued at $38,675,000 after acquiring an additional 1,228,824 shares during the last quarter. Coronation Fund Managers Ltd. purchased a new position in shares of Despegar.com during the second quarter valued at approximately $15,680,000. Itau Unibanco Holding S.A. boosted its position in Despegar.com by 107.0% during the second quarter. Itau Unibanco Holding S.A. now owns 2,072,713 shares of the company’s stock worth $26,446,000 after acquiring an additional 1,071,213 shares during the last quarter. MayTech Global Investments LLC purchased a new stake in Despegar.com in the 2nd quarter worth approximately $11,836,000. Finally, TT International Asset Management LTD purchased a new stake in Despegar.com in the 3rd quarter worth approximately $8,763,000. Institutional investors and hedge funds own 67.93% of the company’s stock.

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.