Despegar.com (NYSE:DESP) Stock Rating Lowered by TD Cowen

Despegar.com (NYSE:DESP) was downgraded by research analysts at TD Cowen from a “buy” rating to a “sell” rating in a report issued on Monday, Marketbeat reports. They currently have a $14.00 price target on the stock, up from their prior price target of $12.00. TD Cowen’s price target would indicate a potential downside of 22.82% from the stock’s current price.

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

Despegar.com Stock Performance

DESP stock opened at $18.14 on Monday. The company’s 50-day simple moving average is $14.27 and its 200 day simple moving average is $13.29. Despegar.com has a 52 week low of $7.83 and a 52 week high of $19.00.

Institutional Investors Weigh In On Despegar.com

A number of large investors have recently bought and sold shares of DESP. Amalgamated Bank acquired a new stake in Despegar.com during the second quarter worth about $28,000. Quarry LP boosted its stake 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 purchasing an additional 1,432 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Despegar.com in the 3rd quarter valued at approximately $56,000. LRI Investments LLC acquired a new stake in shares of Despegar.com in the 2nd quarter valued at approximately $87,000. Finally, Adalta Capital Management LLC acquired a new stake in shares of Despegar.com in the 1st quarter valued at approximately $120,000. 67.93% of the stock is currently 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.