TD Cowen Upgrades Despegar.com (NYSE:DESP) to Hold

Despegar.com (NYSE:DESP) was upgraded by research analysts at TD Cowen from a “sell” rating to a “hold” rating in a research report issued on Tuesday,Finviz reports.

Separately, Morgan Stanley raised their price target on Despegar.com from $17.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, November 29th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Despegar.com presently has an average rating of “Moderate Buy” and a consensus price target of $17.20.

Despegar.com Trading Up 32.8 %

Shares of Despegar.com stock opened at $19.46 on Tuesday. The stock has a 50 day moving average price of $15.98 and a 200-day moving average price of $13.67. Despegar.com has a one year low of $8.06 and a one year high of $19.51.

Institutional Investors Weigh In On Despegar.com

Several large investors have recently bought and sold shares of DESP. Sylebra Capital LLC raised its holdings in shares of Despegar.com by 72.5% during the 2nd quarter. Sylebra Capital LLC now owns 2,923,275 shares of the company’s stock worth $38,675,000 after acquiring an additional 1,228,824 shares during the period. Itau Unibanco Holding S.A. grew its position in Despegar.com by 107.0% in the second quarter. Itau Unibanco Holding S.A. now owns 2,072,713 shares of the company’s stock worth $26,446,000 after acquiring an additional 1,071,213 shares during the period. Coronation Fund Managers Ltd. acquired a new stake in Despegar.com during the second quarter worth $13,936,000. MayTech Global Investments LLC acquired a new position in shares of Despegar.com in the 2nd quarter valued at $11,836,000. Finally, TT International Asset Management LTD acquired a new stake in shares of Despegar.com during the 3rd quarter worth about $8,763,000. 67.93% of the stock is currently owned by hedge funds and other institutional investors.

About Despegar.com

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.