Pictet Asset Management Holding SA Makes New Investment in Despegar.com, Corp. (NYSE:DESP)

Pictet Asset Management Holding SA bought a new stake in Despegar.com, Corp. (NYSE:DESP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 243,683 shares of the company’s stock, valued at approximately $4,691,000. Pictet Asset Management Holding SA owned 0.29% of Despegar.com as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in DESP. Quarry LP lifted its holdings in shares of Despegar.com by 107.1% during the third quarter. Quarry LP now owns 2,769 shares of the company’s stock valued at $34,000 after purchasing an additional 1,432 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Despegar.com during the 3rd quarter valued at approximately $56,000. Harvest Fund Management Co. Ltd purchased a new position in Despegar.com during the fourth quarter valued at $68,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Despegar.com in the fourth quarter worth $104,000. Finally, FMR LLC purchased a new stake in shares of Despegar.com in the third quarter worth $173,000. 67.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DESP has been the subject of several recent analyst reports. TD Cowen raised Despegar.com from a “sell” rating to a “hold” rating in a research report on Tuesday, December 24th. B. Riley downgraded shares of Despegar.com from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $17.20.

Despegar.com Price Performance

Shares of NYSE:DESP opened at $18.91 on Friday. The business has a 50-day simple moving average of $19.18 and a two-hundred day simple moving average of $17.18. Despegar.com, Corp. has a fifty-two week low of $9.25 and a fifty-two week 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.