Despegar.com’s (DESP) Neutral Rating Reiterated at Citigroup

Citigroup reissued their neutral rating on shares of Despegar.com (NYSE:DESP) in a research note released on Monday, MarketBeat Ratings reports. They currently have a $14.50 price target on the stock, up from their previous price target of $11.50.

Several other research analysts have also commented on the stock. Cantor Fitzgerald restated an overweight rating and issued a $14.00 price objective on shares of Despegar.com in a report on Friday, March 22nd. B. Riley reissued a buy rating and issued a $16.00 price target (up from $15.00) on shares of Despegar.com in a research note on Friday, March 15th.

Despegar.com Stock Performance

DESP opened at $12.07 on Monday. The stock has a market capitalization of $797.34 million, a PE ratio of -46.42 and a beta of 2.05. The stock’s 50 day moving average price is $11.07 and its 200-day moving average price is $9.31. Despegar.com has a 52-week low of $4.92 and a 52-week high of $13.23.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Loomis Sayles & Co. L P increased its stake in shares of Despegar.com by 139.3% during the third quarter. Loomis Sayles & Co. L P now owns 673,966 shares of the company’s stock valued at $4,886,000 after purchasing an additional 392,366 shares in the last quarter. Wealthsource Partners LLC increased its position in Despegar.com by 1.9% during the 4th quarter. Wealthsource Partners LLC now owns 59,799 shares of the company’s stock valued at $566,000 after buying an additional 1,122 shares in the last quarter. Quadrature Capital Ltd raised its stake in Despegar.com by 117.0% during the third quarter. Quadrature Capital Ltd now owns 43,012 shares of the company’s stock valued at $311,000 after buying an additional 23,195 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Despegar.com by 43.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 292,005 shares of the company’s stock worth $2,762,000 after acquiring an additional 88,269 shares in the last quarter. Finally, Dumac Inc. grew its stake in shares of Despegar.com by 841.0% in the third quarter. Dumac Inc. now owns 196,942 shares of the company’s stock worth $1,428,000 after acquiring an additional 176,012 shares during the last quarter. 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.