Despegar.com (NYSE:DESP) Downgraded by TD Cowen to Sell

TD Cowen lowered shares of Despegar.com (NYSE:DESP) from a buy rating to a sell rating in a research note released on Monday, Marketbeat.com reports. TD Cowen currently has $14.00 price objective on the stock, up from their previous price objective of $12.00.

Separately, Cantor Fitzgerald reissued 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 Price Performance

DESP stock opened at $17.77 on Monday. The firm has a fifty day moving average price of $14.17 and a 200 day moving average price of $13.25. Despegar.com has a fifty-two week low of $7.83 and a fifty-two week high of $19.00.

Institutional Trading of Despegar.com

Several institutional investors and hedge funds have recently modified their holdings of the stock. Blankinship & Foster LLC purchased a new position in Despegar.com during the 3rd quarter worth $288,000. SkyView Investment Advisors LLC raised its holdings in shares of Despegar.com by 1.7% in the third quarter. SkyView Investment Advisors LLC now owns 247,453 shares of the company’s stock valued at $3,068,000 after acquiring an additional 4,118 shares in the last quarter. Barclays PLC lifted its stake in Despegar.com by 298.5% in the third quarter. Barclays PLC now owns 91,888 shares of the company’s stock worth $1,139,000 after acquiring an additional 68,829 shares during the period. TT International Asset Management LTD bought a new position in Despegar.com during the 3rd quarter worth about $8,763,000. Finally, O Brien Greene & Co. Inc increased its position in Despegar.com by 4.1% during the 3rd quarter. O Brien Greene & Co. Inc now owns 101,000 shares of the company’s stock valued at $1,252,000 after purchasing an additional 4,000 shares during the period. Institutional investors own 67.93% of the company’s stock.

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.