Despegar.com(DESP) Shares Soar 1.52% to 2024 High

Despegar.com(DESP) shares surged 1.52% today, reaching their highest level since December 2024 with an intraday gain of 1.62%.

Marshall Wace LLP significantly reduced its position in Despegar.com, Corp. by 53.9% in the 4th quarter. This move by the institutional investor could indicate a shift in sentiment towards the company, potentially impacting the stock price.

In contrast, RBF Capital LLC increased its stake in Despegar.com, Corp. by 115.2% during the same period. This substantial increase suggests a bullish outlook on the company's future prospects, which could contribute to the positive momentum in the stock price.

Additionally, B.Riley Financial downgraded Despegar.com to a hold rating and adjusted the target price from $19 to $19.5. This change in rating by the financial analyst may influence investor decisions, potentially leading to a more cautious approach towards the stock.