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

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

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $17.00 price objective on shares of Despegar.com in a research report on Friday, August 16th.

Despegar.com Stock Down 2.3 %

Shares of NYSE:DESP opened at $17.73 on Monday. Despegar.com has a one year low of $7.83 and a one year high of $19.00. The company has a 50-day simple moving average of $14.49 and a 200-day simple moving average of $13.36.

Institutional Trading of Despegar.com

Several hedge funds have recently modified their holdings of DESP. Sylebra Capital LLC grew its holdings in Despegar.com by 72.5% during the second quarter. Sylebra Capital LLC now owns 2,923,275 shares of the company’s stock worth $38,675,000 after acquiring an additional 1,228,824 shares during the period. Itau Unibanco Holding S.A. grew its stake in shares of Despegar.com by 1.3% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 2,099,156 shares of the company’s stock worth $26,030,000 after purchasing an additional 26,443 shares during the period. Woodson Capital Management LP increased its holdings in shares of Despegar.com by 78.4% in the 3rd quarter. Woodson Capital Management LP now owns 1,426,952 shares of the company’s stock valued at $17,694,000 after purchasing an additional 626,952 shares in the last quarter. Coronation Fund Managers Ltd. acquired a new stake in shares of Despegar.com in the second quarter valued at about $15,680,000. Finally, MayTech Global Investments LLC boosted its holdings in Despegar.com by 23.1% during the third quarter. MayTech Global Investments LLC now owns 1,101,684 shares of the company’s stock worth $13,661,000 after buying an additional 207,023 shares in the last quarter. 67.93% of the stock is owned by institutional investors and hedge funds.

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.