MayTech Global Investments LLC Raises Stock Holdings in Despegar.com, Corp. (NYSE:DESP)

MayTech Global Investments LLC raised its stake in Despegar.com, Corp. (NYSE:DESP) by 23.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,101,684 shares of the company’s stock after purchasing an additional 207,023 shares during the period. Despegar.com accounts for approximately 1.8% of MayTech Global Investments LLC’s investment portfolio, making the stock its 18th largest holding. MayTech Global Investments LLC owned about 1.67% of Despegar.com worth $13,661,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Hsbc Holdings PLC acquired a new stake in shares of Despegar.com in the 2nd quarter worth $1,102,000. Tidal Investments LLC acquired a new stake in Despegar.com in the first quarter worth about $4,534,000. SG Americas Securities LLC purchased a new stake in shares of Despegar.com during the second quarter worth about $2,006,000. Principal Financial Group Inc. acquired a new position in shares of Despegar.com during the third quarter valued at about $591,000. Finally, Rhumbline Advisers purchased a new position in shares of Despegar.com in the 2nd quarter valued at approximately $1,159,000. 67.93% of the stock is owned by hedge funds and other institutional investors.

Despegar.com Trading Down 2.3 %

Shares of NYSE:DESP opened at $17.73 on Thursday. Despegar.com, Corp. has a twelve month low of $7.83 and a twelve month high of $19.00. The company’s 50 day moving average is $14.49 and its 200 day moving average is $13.36.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on DESP shares. Cantor Fitzgerald restated an “overweight” rating and set a $17.00 price target on shares of Despegar.com in a research note on Friday, August 16th. TD Cowen lowered shares of Despegar.com from a “buy” rating to a “sell” rating and boosted their price objective for the company from $12.00 to $14.00 in a report on Monday.

Despegar.com Profile

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.