Penserra Capital Management LLC Sells 24,969 Shares of Despegar.com, Corp. (NYSE:DESP)

Penserra Capital Management LLC lessened its stake in shares of Despegar.com, Corp. (NYSE:DESP) by 16.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,660 shares of the company’s stock after selling 24,969 shares during the quarter. Penserra Capital Management LLC owned 0.19% of Despegar.com worth $1,582,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Hsbc Holdings PLC bought a new position in Despegar.com in the 2nd quarter valued at $1,102,000. Tidal Investments LLC bought a new position in shares of Despegar.com in the first quarter valued at about $4,534,000. SG Americas Securities LLC acquired a new position in Despegar.com during the 2nd quarter worth about $2,006,000. Principal Financial Group Inc. bought a new stake in Despegar.com during the 3rd quarter worth about $591,000. Finally, Rhumbline Advisers acquired a new stake in Despegar.com in the 2nd quarter valued at about $1,159,000. Institutional investors and hedge funds own 67.93% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on DESP. TD Cowen lowered shares of Despegar.com from a “buy” rating to a “sell” rating and lifted their target price for the stock from $12.00 to $14.00 in a report on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $17.00 price objective on shares of Despegar.com in a research note on Friday, August 16th.

Despegar.com Stock Performance

DESP opened at $18.14 on Wednesday. The business has a fifty day simple moving average of $14.27 and a 200 day simple moving average of $13.29. Despegar.com, Corp. has a 1 year low of $7.83 and a 1 year high of $19.00.

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.