Despegar.com, Corp. (NYSE:DESP) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. increased its stake in shares of Despegar.com, Corp. (NYSE:DESP) by 9.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 52,162 shares of the company’s stock after buying an additional 4,528 shares during the quarter. Principal Financial Group Inc. owned about 0.08% of Despegar.com worth $1,004,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Quarry LP boosted its position in shares of Despegar.com by 107.1% during the third quarter. Quarry LP now owns 2,769 shares of the company’s stock worth $34,000 after buying an additional 1,432 shares during the period. Point72 Asset Management L.P. acquired a new stake in Despegar.com in the third quarter valued at approximately $56,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Despegar.com during the 4th quarter worth $104,000. FMR LLC acquired a new position in shares of Despegar.com during the 3rd quarter worth about $173,000. Finally, Intech Investment Management LLC acquired a new position in Despegar.com in the third quarter valued at approximately $252,000. Hedge funds and other institutional investors own 67.93% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on DESP. TD Cowen raised Despegar.com from a “sell” rating to a “hold” rating in a report on Tuesday, December 24th. Morgan Stanley upped their price objective on shares of Despegar.com from $17.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, November 29th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.20.

Despegar.com Trading Up 0.1 %

DESP stock opened at $19.25 on Friday. The firm has a 50 day moving average of $19.22 and a 200-day moving average of $16.10. Despegar.com, Corp. has a 12-month low of $8.82 and a 12-month high of $19.55.

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.