Despegar.com (NYSE:DESP) Cut to Hold at B. Riley

Despegar.com (NYSE:DESP) was downgraded by equities research analysts at B. Riley from a “strong-buy” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

DESP has been the topic of a number of other research reports. TD Cowen upgraded Despegar.com from a “sell” rating to a “hold” rating in a research note on Tuesday, December 24th. Morgan Stanley boosted their target price on Despegar.com from $17.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $17.20.

Despegar.com Stock Performance

Shares of NYSE DESP opened at $19.25 on Wednesday. Despegar.com has a twelve month low of $8.82 and a twelve month high of $19.57. The stock’s 50 day moving average price is $19.22 and its 200-day moving average price is $16.13.

Hedge Funds Weigh In On Despegar.com

Several institutional investors have recently bought and sold shares of DESP. Nuveen Asset Management LLC lifted its stake in Despegar.com by 428.5% in the fourth quarter. Nuveen Asset Management LLC now owns 2,381,714 shares of the company’s stock valued at $45,848,000 after purchasing an additional 1,931,033 shares during the last quarter. Sylebra Capital LLC raised its holdings in Despegar.com by 62.8% during the 4th quarter. Sylebra Capital LLC now owns 4,760,433 shares of the company’s stock valued at $91,638,000 after acquiring an additional 1,837,158 shares during the period. Prevatt Capital Ltd bought a new stake in Despegar.com during the 4th quarter valued at $27,335,000. Arrowstreet Capital Limited Partnership raised its holdings in Despegar.com by 2,086.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,137,974 shares of the company’s stock valued at $21,906,000 after acquiring an additional 1,085,931 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in Despegar.com by 2,020.9% during the 4th quarter. Ameriprise Financial Inc. now owns 1,070,723 shares of the company’s stock valued at $20,611,000 after acquiring an additional 1,020,238 shares during the period. Hedge funds and other institutional investors 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.