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

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

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 Price Performance

Despegar.com stock opened at $17.73 on Monday. Despegar.com has a one year low of $7.83 and a one year high of $19.00. The company’s fifty day moving average price is $14.38 and its two-hundred day moving average price is $13.33.

Institutional Investors Weigh In On Despegar.com

Several hedge funds and other institutional investors have recently made changes to their positions in DESP. Bayesian Capital Management LP bought a new stake in shares of Despegar.com in the first quarter valued at approximately $132,000. Tidal Investments LLC bought a new stake in Despegar.com in the 1st quarter valued at $4,534,000. Adalta Capital Management LLC bought a new stake in Despegar.com in the 1st quarter valued at $120,000. SkyView Investment Advisors LLC grew its position in Despegar.com by 2.1% in the 1st quarter. SkyView Investment Advisors LLC now owns 232,579 shares of the company’s stock worth $2,782,000 after purchasing an additional 4,727 shares during the last quarter. Finally, Woodson Capital Management LP bought a new position in shares of Despegar.com during the 1st quarter worth about $5,980,000. 67.93% of the stock is owned by institutional investors and hedge funds.

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.