TD Cowen upgraded shares of Despegar.com (NYSE:DESP - Free Report) from a sell rating to a hold rating in a report issued on Tuesday morning, MarketBeat reports.
Separately, Morgan Stanley upped their price objective on Despegar.com from $17.00 to $21.00 and gave the stock an "overweight" rating in a report on Friday, November 29th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $17.20.
Read Our Latest Stock Report on DESP
Despegar.com Stock Down 0.1 %
Shares of DESP traded down $0.01 during mid-day trading on Tuesday, reaching $19.45. 1,824,895 shares of the stock traded hands, compared to its average volume of 999,285. Despegar.com has a 1 year low of $8.06 and a 1 year high of $19.55. The firm has a fifty day moving average price of $15.98 and a 200 day moving average price of $13.67.
Institutional Investors Weigh In On Despegar.com
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sylebra Capital LLC boosted its position in shares of Despegar.com by 72.5% during the second quarter. Sylebra Capital LLC now owns 2,923,275 shares of the company's stock valued at $38,675,000 after buying an additional 1,228,824 shares during the last quarter. Itau Unibanco Holding S.A. raised its holdings in Despegar.com by 107.0% during the second quarter. Itau Unibanco Holding S.A. now owns 2,072,713 shares of the company's stock valued at $26,446,000 after acquiring an additional 1,071,213 shares during the period. Coronation Fund Managers Ltd. purchased a new position in Despegar.com in the 2nd quarter worth approximately $13,936,000. MayTech Global Investments LLC bought a new position in shares of Despegar.com during the second quarter worth $11,836,000. Finally, TT International Asset Management LTD purchased a new position in shares of Despegar.com during the third quarter valued at about $8,763,000. 67.93% of the stock is owned by hedge funds and other institutional investors.
About Despegar.com
(
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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.
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