Despegar.com (NYSE:DESP) Stock Price Down 4.5% – Here’s What Happened

Despegar.com, Corp. (NYSE:DESP)’s share price was down 4.5% during trading on Wednesday . The company traded as low as $16.45 and last traded at $16.67. Approximately 306,600 shares changed hands during trading, a decline of 67% from the average daily volume of 936,206 shares. The stock had previously closed at $17.45.

Analyst Ratings Changes

A number of equities analysts have recently commented on DESP shares. Cantor Fitzgerald reissued an “overweight” rating and set a $17.00 price target on shares of Despegar.com in a report on Friday, August 16th. TD Cowen cut Despegar.com from a “buy” rating to a “sell” rating and boosted their price target for the stock from $12.00 to $14.00 in a report on Monday, November 25th. Finally, Morgan Stanley upped their target price on Despegar.com from $17.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $17.20.

Despegar.com Price Performance

The business has a fifty day simple moving average of $14.90 and a 200-day simple moving average of $13.50.

Institutional Investors Weigh In On Despegar.com

A number of institutional investors have recently made changes to their positions in the stock. Amalgamated Bank acquired a new stake in Despegar.com during the second quarter worth approximately $28,000. Quarry LP lifted its holdings in shares of Despegar.com by 107.1% in 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 in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Despegar.com in the third quarter valued at approximately $56,000. LRI Investments LLC bought a new stake in Despegar.com during the second quarter worth $87,000. Finally, Sanctuary Advisors LLC bought a new stake in Despegar.com during the second quarter worth $128,000. 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.