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

Despegar.com (NYSE:DESP - Get Free Report) was downgraded by equities research analysts at TD Cowen from a "buy" rating to a "sell" rating in a report released on Monday, MarketBeat reports. They presently have a $14.00 price objective on the stock, up from their prior price objective of $12.00. TD Cowen's price target indicates a potential downside of 21.26% from the stock's previous close.

Separately, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $17.00 price target on shares of Despegar.com in a report on Friday, August 16th.

Despegar.com Stock Down 5.2 %

Shares of Despegar.com stock traded down $0.97 during trading on Monday, hitting $17.78. 1,139,050 shares of the stock traded hands, compared to its average volume of 936,560. Despegar.com has a twelve month low of $7.83 and a twelve month high of $19.00. The company has a fifty day moving average price of $14.17 and a two-hundred day moving average price of $13.25.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DESP. Quarry LP lifted its position in Despegar.com by 107.1% during the 3rd quarter. Quarry LP now owns 2,769 shares of the company's stock valued at $34,000 after purchasing an additional 1,432 shares during the period. Amalgamated Bank bought a new position in Despegar.com in the second quarter valued at approximately $28,000. O Brien Greene & Co. Inc raised its position in shares of Despegar.com by 4.1% during the 3rd quarter. O Brien Greene & Co. Inc now owns 101,000 shares of the company's stock valued at $1,252,000 after acquiring an additional 4,000 shares during the last quarter. SkyView Investment Advisors LLC lifted its stake in shares of Despegar.com by 1.7% in the 3rd quarter. SkyView Investment Advisors LLC now owns 247,453 shares of the company's stock valued at $3,068,000 after purchasing an additional 4,118 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in shares of Despegar.com in the 3rd quarter worth $56,000. Institutional investors and hedge funds 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.