Principal Financial Group Inc. Buys New Holdings in Despegar.com, Corp. (NYSE:DESP)

Principal Financial Group Inc. acquired a new position in shares of Despegar.com, Corp. (NYSE:DESP) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 47,634 shares of the company’s stock, valued at approximately $591,000. Principal Financial Group Inc. owned about 0.07% of Despegar.com as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Amalgamated Bank bought a new position in Despegar.com in the second quarter valued at approximately $28,000. SkyView Investment Advisors LLC increased its holdings in shares of Despegar.com by 2.1% during the first quarter. SkyView Investment Advisors LLC now owns 232,579 shares of the company’s stock worth $2,782,000 after buying an additional 4,727 shares in the last quarter. Hood River Capital Management LLC increased its holdings in shares of Despegar.com by 71.1% during the second quarter. Hood River Capital Management LLC now owns 14,461 shares of the company’s stock worth $191,000 after buying an additional 6,011 shares in the last quarter. LRI Investments LLC acquired a new position in shares of Despegar.com during the second quarter worth $87,000. Finally, Adalta Capital Management LLC acquired a new position in shares of Despegar.com during the first quarter worth $120,000. 67.93% of the stock is owned by institutional investors.

Despegar.com Stock Performance

Despegar.com stock opened at $18.75 on Monday. The firm’s fifty day moving average price is $14.17 and its 200-day moving average price is $13.25. Despegar.com, Corp. has a fifty-two week low of $7.83 and a fifty-two week high of $19.00.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $17.00 price objective on shares of Despegar.com in a research note on Friday, August 16th. TD Cowen boosted their price objective on shares of Despegar.com from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th.

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.