Despegar.com (NYSE:DESP) Downgraded by TD Cowen to “Sell”

TD Cowen downgraded shares of Despegar.com (NYSE:DESP) from a buy rating to a sell rating in a research note published on Monday morning, Marketbeat reports. TD Cowen currently has $14.00 price objective on the stock, up from their prior price objective of $12.00.

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

Despegar.com Stock Down 2.3 %

DESP stock opened at $17.73 on Monday. The stock’s 50 day moving average price is $14.49 and its 200 day moving average price is $13.36. 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 large investors have recently made changes to their positions in the business. Hsbc Holdings PLC acquired a new position in shares of Despegar.com during the 2nd quarter valued at about $1,102,000. Tidal Investments LLC purchased a new position in Despegar.com during the first quarter worth approximately $4,534,000. SG Americas Securities LLC purchased a new position in Despegar.com during the second quarter worth approximately $2,006,000. Principal Financial Group Inc. purchased a new position in shares of Despegar.com in the 3rd quarter worth $591,000. Finally, MayTech Global Investments LLC grew its position in Despegar.com by 23.1% during the third quarter. MayTech Global Investments LLC now owns 1,101,684 shares of the company’s stock valued at $13,661,000 after acquiring an additional 207,023 shares during the period. 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.