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 research note issued on Tuesday, MarketBeat.com reports.

Separately, Morgan Stanley raised their price objective on shares of Despegar.com from $17.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.20.

Despegar.com Stock Performance

Shares of DESP stock opened at $19.45 on Tuesday. Despegar.com has a 52 week low of $8.06 and a 52 week high of $19.55. The company’s 50 day moving average price is $16.11 and its two-hundred day moving average price is $13.71.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in DESP. Hsbc Holdings PLC bought a new position in shares of Despegar.com in the second quarter valued at about $1,102,000. Principal Financial Group Inc. acquired a new stake in shares of Despegar.com during the 3rd quarter worth $591,000. MayTech Global Investments LLC raised its position in shares of Despegar.com by 23.1% in the 3rd quarter. MayTech Global Investments LLC now owns 1,101,684 shares of the company’s stock valued at $13,661,000 after buying an additional 207,023 shares in the last quarter. Rhumbline Advisers acquired a new stake in shares of Despegar.com in the 2nd quarter valued at $1,159,000. Finally, Yarra Square Partners LP increased its stake in shares of Despegar.com by 15.2% in the 2nd quarter. Yarra Square Partners LP now owns 443,400 shares of the company’s stock valued at $5,866,000 after purchasing an additional 58,400 shares during the last quarter. Institutional investors and hedge funds own 67.93% of the company’s stock.

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.