Franklin Resources Inc. purchased a new position in Despegar.com, Corp. (NYSE:DESP - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 31,339 shares of the company's stock, valued at approximately $395,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in DESP. Amalgamated Bank bought a new position in Despegar.com in the second quarter valued at $28,000. Quarry LP lifted its stake in Despegar.com by 107.1% during the third quarter. Quarry LP now owns 2,769 shares of the company's stock worth $34,000 after purchasing an additional 1,432 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Despegar.com in the 3rd quarter worth about $56,000. Sanctuary Advisors LLC bought a new position in shares of Despegar.com during the 2nd quarter valued at about $128,000. Finally, MQS Management LLC purchased a new position in shares of Despegar.com during the 2nd quarter valued at about $136,000. Hedge funds and other institutional investors own 67.93% of the company's stock.
Several analysts have issued reports on DESP shares. TD Cowen raised Despegar.com from a "sell" rating to a "hold" rating in a research note on Tuesday, December 24th. Morgan Stanley upped their price objective on shares of 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 issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $17.20.
Read Our Latest Research Report on Despegar.com
Shares of DESP stock opened at $19.25 on Wednesday. Despegar.com, Corp. has a fifty-two week low of $8.06 and a fifty-two week high of $19.55. The stock has a 50 day moving average price of $16.62 and a two-hundred day moving average price of $13.89.
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.
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