Despegar.com (NYSE:DESP) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Despegar.com (NYSE:DESP) in a report published on Friday, Benzinga reports. Cantor Fitzgerald currently has a $17.00 price target on the stock.

Other research analysts have also recently issued research reports about the stock. Citigroup upped their price target on shares of Despegar.com from $14.50 to $15.00 and gave the stock a neutral rating in a report on Monday, July 22nd. B. Riley lifted their price target on Despegar.com from $16.00 to $19.00 and gave the stock a buy rating in a research note on Friday, May 17th.

Despegar.com Stock Up 6.9 %

NYSE DESP opened at $11.00 on Friday. Despegar.com has a 52 week low of $6.09 and a 52 week high of $15.82. The firm’s 50-day simple moving average is $12.41 and its two-hundred day simple moving average is $11.86.

Institutional Investors Weigh In On Despegar.com

Several hedge funds have recently made changes to their positions in the company. Fourth Sail Capital LP purchased a new position in Despegar.com during the fourth quarter valued at $12,954,000. Sylebra Capital LLC lifted 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 valued at $38,675,000 after purchasing an additional 1,228,824 shares during the period. Coronation Fund Managers Ltd. bought a new position in shares of Despegar.com during the 2nd quarter valued at $15,680,000. Itau Unibanco Holding S.A. lifted its holdings in Despegar.com by 107.0% in the second quarter. Itau Unibanco Holding S.A. now owns 2,072,713 shares of the company’s stock valued at $26,446,000 after acquiring an additional 1,071,213 shares during the period. Finally, MayTech Global Investments LLC bought a new position in shares of Despegar.com in the 2nd quarter worth approximately $11,836,000. 67.93% of the stock is currently owned by institutional investors.

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.