Despegar.com (NYSE:DESP) Rating Increased to Hold at TD Cowen

TD Cowen upgraded shares of Despegar.com (NYSE:DESP) from a sell rating to a hold rating in a research report report published on Tuesday, Marketbeat Ratings reports.

Separately, Morgan Stanley lifted their price target on Despegar.com from $17.00 to $21.00 and gave the company an “overweight” rating in a report on Friday, November 29th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Despegar.com has a consensus rating of “Moderate Buy” and a consensus price target of $17.20.

Despegar.com Stock Performance

NYSE DESP opened at $19.35 on Tuesday. The stock’s 50 day simple moving average is $16.24 and its 200 day simple moving average is $13.75. Despegar.com has a one year low of $8.06 and a one year high of $19.55.

Hedge Funds Weigh In On Despegar.com

Hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank bought a new stake in Despegar.com in the second quarter valued at about $28,000. Quarry LP raised its position in shares of Despegar.com by 107.1% in the 3rd quarter. Quarry LP now owns 2,769 shares of the company’s stock valued at $34,000 after acquiring an additional 1,432 shares during the period. Point72 Asset Management L.P. bought a new position in Despegar.com during the 3rd quarter worth approximately $56,000. Sanctuary Advisors LLC acquired a new position in Despegar.com during the second quarter valued at approximately $128,000. Finally, MQS Management LLC bought a new stake in Despegar.com in the second quarter valued at approximately $136,000. 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.