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

Despegar.com (NYSE:DESP) was downgraded by equities research analysts at TD Cowen from a “buy” rating to a “sell” rating in a research note issued on Monday,Briefing.com Automated Import reports. They currently have a $14.00 price target on the stock, up from their previous price target of $12.00. TD Cowen’s price objective suggests a potential downside of 25.33% from the company’s previous close.

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

Despegar.com Trading Up 1.4 %

Shares of NYSE:DESP opened at $18.75 on Monday. The firm’s 50-day moving average is $14.17 and its two-hundred day moving average is $13.25. Despegar.com has a 1 year low of $7.83 and a 1 year high of $19.00.

Hedge Funds Weigh In On Despegar.com

A number of large investors have recently bought and sold shares of the company. Sylebra Capital LLC raised 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 purchasing an additional 1,228,824 shares in the last quarter. Coronation Fund Managers Ltd. purchased a new position in shares of Despegar.com during the 2nd quarter worth approximately $15,680,000. Itau Unibanco Holding S.A. lifted its holdings in shares of Despegar.com by 107.0% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 2,072,713 shares of the company’s stock valued at $26,446,000 after buying an additional 1,071,213 shares during the period. MayTech Global Investments LLC purchased a new stake in shares of Despegar.com in the second quarter valued at approximately $11,836,000. Finally, TT International Asset Management LTD acquired a new position in Despegar.com during the third quarter worth $8,763,000. Hedge funds and other 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.