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

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

Separately, Morgan Stanley increased their price target on shares of 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. According to data from MarketBeat.com, Despegar.com presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.20.

Despegar.com Price Performance

DESP opened at $19.46 on Tuesday. The business has a fifty day moving average price of $15.98 and a 200 day moving average price of $13.67. Despegar.com has a 12 month low of $8.06 and a 12 month high of $19.51.

Institutional Investors Weigh In On Despegar.com

A number of large investors have recently added to or reduced their stakes in the business. Amalgamated Bank purchased a new position in shares of Despegar.com during the 2nd quarter worth about $28,000. Quarry LP raised 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 acquiring an additional 1,432 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Despegar.com during the 3rd quarter valued at $56,000. Sanctuary Advisors LLC purchased a new stake in Despegar.com during the 2nd quarter worth $128,000. Finally, MQS Management LLC acquired a new stake in Despegar.com in the second quarter valued at approximately $136,000. 67.93% of the stock is 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.