Despegar.com (NYSE:DESP) Reaches New 52-Week High at $13.30

Despegar.com, Corp. (NYSE:DESP - Get Free Report)'s share price reached a new 52-week high on Monday . The stock traded as high as $13.30 and last traded at $13.25, with a volume of 746804 shares changing hands. The stock had previously closed at $12.30.

Analyst Ratings Changes

Several brokerages recently issued reports on DESP. B. Riley reiterated a "buy" rating and issued a $16.00 target price (up from $15.00) on shares of Despegar.com in a research report on Friday, March 15th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $14.00 price objective on shares of Despegar.com in a report on Friday, March 22nd. Finally, Citigroup reissued a "neutral" rating and set a $14.50 price objective (up from $11.50) on shares of Despegar.com in a report on Monday, April 29th.

Despegar.com Price Performance

The firm's 50 day simple moving average is $11.22 and its two-hundred day simple moving average is $9.41. The firm has a market capitalization of $883.88 million, a P/E ratio of -50.23 and a beta of 2.03.

Hedge Funds Weigh In On Despegar.com

A number of large investors have recently bought and sold shares of DESP. BNP Paribas Financial Markets grew its holdings in shares of Despegar.com by 24.6% in the first quarter. BNP Paribas Financial Markets now owns 151,567 shares of the company's stock worth $1,813,000 after purchasing an additional 29,905 shares during the last quarter. Activest Wealth Management bought a new stake in Despegar.com in the 1st quarter worth $39,000. Altfest L J & Co. Inc. increased its position in shares of Despegar.com by 4.7% in the first quarter. Altfest L J & Co. Inc. now owns 48,505 shares of the company's stock valued at $580,000 after acquiring an additional 2,179 shares during the period. Harbour Capital Advisors LLC bought a new position in shares of Despegar.com during the first quarter valued at about $216,000. Finally, Matthews International Capital Management LLC purchased a new stake in shares of Despegar.com during the first quarter worth about $299,000. 67.93% of the stock is owned by hedge funds and other institutional investors.

Despegar.com Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.