Despegar.com (NYSE:DESP) Hits New 12-Month High – Here’s Why

Despegar.com, Corp. (NYSE:DESP) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $19.43 and last traded at $19.43, with a volume of 797547 shares. The stock had previously closed at $14.65.

Analysts Set New Price Targets

A number of research analysts have commented on the company. TD Cowen raised Despegar.com from a “sell” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley boosted their target price on Despegar.com from $17.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, November 29th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Despegar.com presently has a consensus rating of “Moderate Buy” and an average price target of $17.20.

Despegar.com Stock Down 0.1 %

The stock’s 50 day moving average is $15.98 and its 200-day moving average is $13.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in DESP. Amalgamated Bank purchased a new stake in Despegar.com in the second quarter worth $28,000. Quarry LP boosted its holdings in shares of 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 buying an additional 1,432 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Despegar.com during the 3rd quarter valued at $56,000. Sanctuary Advisors LLC purchased a new stake in shares of Despegar.com in the 2nd quarter worth about $128,000. Finally, MQS Management LLC bought a new position in shares of Despegar.com in the 2nd quarter worth about $136,000. Hedge funds and other institutional investors own 67.93% of the company’s stock.

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.