Beaconlight Capital LLC Boosts Stock Holdings in Despegar.com, Corp. (NYSE:DESP)

Beaconlight Capital LLC raised its holdings in Despegar.com, Corp. (NYSE:DESP) by 365.0% in the third quarter, Holdings Channel.com reports. The fund owned 589,468 shares of the company’s stock after buying an additional 462,696 shares during the quarter. Despegar.com makes up 3.0% of Beaconlight Capital LLC’s investment portfolio, making the stock its 16th largest position. Beaconlight Capital LLC’s holdings in Despegar.com were worth $7,309,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DESP. Bayesian Capital Management LP purchased a new stake in shares of Despegar.com during the 1st quarter worth approximately $132,000. Tidal Investments LLC purchased a new stake in shares of Despegar.com in the 1st quarter worth about $4,534,000. Cetera Advisors LLC purchased a new stake in shares of Despegar.com in the 1st quarter worth about $423,000. SG Americas Securities LLC purchased a new stake in shares of Despegar.com in the 2nd quarter worth about $2,006,000. Finally, Baader Bank Aktiengesellschaft lifted its holdings in shares of Despegar.com by 67.4% in the second quarter. Baader Bank Aktiengesellschaft now owns 38,500 shares of the company’s stock valued at $509,000 after purchasing an additional 15,500 shares in the last quarter. Institutional investors and hedge funds own 67.93% of the company’s stock.

Analyst Upgrades and Downgrades

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

Despegar.com Trading Up 0.6 %

Shares of Despegar.com stock traded up $0.11 during trading hours on Wednesday, reaching $18.25. 15,704 shares of the company’s stock were exchanged, compared to its average volume of 935,881. Despegar.com, Corp. has a 52-week low of $7.83 and a 52-week high of $19.00. The company has a fifty day moving average of $14.38 and a 200-day moving average of $13.33.

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.