Crestwood Capital Management L.P. acquired a new position in shares of Despegar.com Corp. (NYSE:DESP) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 30,000 shares of the company’s stock, valued at approximately $960,000. Despegar.com accounts for approximately 0.5% of Crestwood Capital Management L.P.’s investment portfolio, making the stock its 22nd largest position.
Other large investors also recently bought and sold shares of the company. Nationwide Fund Advisors purchased a new position in shares of Despegar.com during the 3rd quarter worth approximately $253,000. SG Americas Securities LLC purchased a new position in Despegar.com in the 3rd quarter valued at approximately $332,000. Nordea Investment Management AB purchased a new position in Despegar.com in the 3rd quarter valued at approximately $812,000. State of New Jersey Common Pension Fund D purchased a new position in Despegar.com in the 3rd quarter valued at approximately $835,000. Finally, Zevenbergen Capital Investments LLC purchased a new position in Despegar.com in the 3rd quarter valued at approximately $1,118,000. 72.64% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have commented on DESP shares. KeyCorp started coverage on shares of Despegar.com in a research report on Monday, October 16th. They issued an “overweight” rating and a $40.00 price target for the company. Guggenheim started coverage on shares of Despegar.com in a research report on Thursday, September 28th. They issued a “buy” rating and a $38.00 price target for the company. Morgan Stanley raised their price target on shares of Despegar.com from $31.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, November 17th. UBS started coverage on shares of Despegar.com in a research report on Monday, October 16th. They issued a “neutral” rating and a $36.00 price target for the company. Finally, Cowen reissued a “buy” rating and issued a $35.00 price target on shares of Despegar.com in a research report on Sunday, November 19th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Despegar.com presently has a consensus rating of “Buy” and an average target price of $35.83.
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Despegar.com Corp is an Argentina-based travel agency. The Company’s activities are divided into two business segments: Air, as well as Packages, Hotels and Other Travel Products. The Air division focuses on the sale of airline tickets. The Packages, Hotels and Other Travel Products division includes sales of travel packages with or without airline tickets and hotel rooms, as well as stand-alone sales of hotel rooms, including vacation rentals, car rentals, bus tickets, cruise tickets, travel insurance and destination services.
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