Despegar.com (NYSE:DESP) Rating Lowered to “Sell” at TD Cowen

Despegar.com (NYSE:DESP) was downgraded by stock 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 target price on the stock, up from their prior target price of $12.00. TD Cowen’s price target points to a potential downside of 25.33% from the company’s current price.

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

Despegar.com Stock Up 1.4 %

NYSE DESP opened at $18.75 on Monday. The business has a 50 day moving average price of $14.17 and a 200 day moving average price of $13.25. Despegar.com has a 1-year low of $7.83 and a 1-year high of $19.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DESP. Amalgamated Bank bought a new stake in Despegar.com during the second quarter valued at $28,000. Quarry LP raised its stake in Despegar.com by 107.1% during the third quarter. Quarry LP now owns 2,769 shares of the company’s stock worth $34,000 after acquiring an additional 1,432 shares during the period. Point72 Asset Management L.P. bought a new position in Despegar.com in the third quarter worth about $56,000. LRI Investments LLC bought a new position in shares of Despegar.com during the second quarter valued at approximately $87,000. Finally, Adalta Capital Management LLC acquired a new stake in shares of Despegar.com during the 1st quarter worth approximately $120,000. 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.