Despegar.com (NYSE:DESP) Receives “Neutral” Rating from Citigroup

Citigroup restated their neutral rating on shares of Despegar.com (NYSE:DESP) in a report released on Monday morning, Marketbeat reports. They currently have a $14.50 target price on the stock, up from their prior target price of $11.50.

A number of other analysts have also commented on the company. B. Riley reiterated a buy rating and set a $16.00 price target (up from $15.00) on shares of Despegar.com in a report on Friday, March 15th. Cantor Fitzgerald reiterated an overweight rating and set a $14.00 target price on shares of Despegar.com in a research note on Friday, March 22nd.

Despegar.com Trading Down 0.9 %

Shares of Despegar.com stock opened at $12.70 on Monday. The stock has a fifty day simple moving average of $10.93 and a 200 day simple moving average of $9.25. Despegar.com has a 12-month low of $4.92 and a 12-month high of $13.23. The company has a market capitalization of $838.63 million, a P/E ratio of -48.83 and a beta of 2.05.

Institutional Investors Weigh In On Despegar.com

A number of institutional investors and hedge funds have recently made changes to their positions in DESP. Fourth Sail Capital LP purchased a new position in Despegar.com in the 4th quarter worth approximately $12,954,000. Norges Bank purchased a new stake in Despegar.com during the fourth quarter valued at about $6,622,000. Loomis Sayles & Co. L P lifted its stake in Despegar.com by 139.3% during the third quarter. Loomis Sayles & Co. L P now owns 673,966 shares of the company’s stock worth $4,886,000 after purchasing an additional 392,366 shares during the last quarter. Artisan Partners Limited Partnership increased its position in shares of Despegar.com by 13.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 1,808,162 shares of the company’s stock valued at $13,109,000 after purchasing an additional 210,128 shares during the last quarter. Finally, Dumac Inc. increased its position in shares of Despegar.com by 841.0% during the 3rd quarter. Dumac Inc. now owns 196,942 shares of the company’s stock valued at $1,428,000 after purchasing an additional 176,012 shares during the last quarter. 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.