Tidal Investments LLC Lowers Holdings in Despegar.com, Corp. (NYSE:DESP)

Tidal Investments LLC lowered its stake in shares of Despegar.com, Corp. (NYSE:DESP) by 1.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 206,936 shares of the company’s stock after selling 2,784 shares during the quarter. Tidal Investments LLC’s holdings in Despegar.com were worth $2,566,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of DESP. Sylebra Capital LLC increased its position in Despegar.com by 72.5% during the second quarter. Sylebra Capital LLC now owns 2,923,275 shares of the company’s stock worth $38,675,000 after purchasing an additional 1,228,824 shares during the last quarter. Itau Unibanco Holding S.A. grew its stake in shares of Despegar.com by 1.3% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 2,099,156 shares of the company’s stock valued at $26,030,000 after buying an additional 26,443 shares during the period. Woodson Capital Management LP increased its holdings in shares of 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. MayTech Global Investments LLC raised its position in shares of Despegar.com by 23.1% in the 3rd quarter. MayTech Global Investments LLC now owns 1,101,684 shares of the company’s stock worth $13,661,000 after buying an additional 207,023 shares during the period. Finally, Coronation Fund Managers Ltd. acquired a new position in Despegar.com in the second quarter valued at $13,936,000. 67.93% of the stock is owned by institutional investors and hedge funds.

Despegar.com Stock Up 1.5 %

Shares of Despegar.com stock opened at $17.13 on Monday. Despegar.com, Corp. has a twelve month low of $8.06 and a twelve month high of $19.00. The company has a fifty day moving average price of $15.59 and a 200 day moving average price of $13.62.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DESP. TD Cowen downgraded Despegar.com from a “buy” rating to a “sell” rating and boosted their price target for the company from $12.00 to $14.00 in a research report on Monday, November 25th. Morgan Stanley boosted their target price on Despegar.com from $17.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $17.20.

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.