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

B. Riley downgraded shares of Despegar.com (NYSE:DESP) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

Several other analysts have also weighed in on DESP. Morgan Stanley upped their target price on Despegar.com from $17.00 to $21.00 and gave the company an “overweight” rating in a report on Friday, November 29th. TD Cowen upgraded shares of Despegar.com from a “sell” rating to a “hold” rating in a research report on Tuesday, December 24th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $17.20.

Despegar.com Trading Up 0.1 %

Shares of DESP opened at $19.26 on Wednesday. The company has a 50-day simple moving average of $19.22 and a 200-day simple moving average of $16.18. Despegar.com has a 52-week low of $9.25 and a 52-week high of $19.55.

Hedge Funds Weigh In On Despegar.com

Several institutional investors and hedge funds have recently modified their holdings of DESP. US Bancorp DE acquired a new position in Despegar.com in the 3rd quarter valued at $332,000. Principal Financial Group Inc. purchased a new stake in Despegar.com in the 3rd quarter valued at about $591,000. Intech Investment Management LLC purchased a new stake in Despegar.com in the third quarter valued at approximately $252,000. Charles Schwab Investment Management Inc. grew its holdings in Despegar.com by 76.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 256,726 shares of the company’s stock valued at $3,183,000 after purchasing an additional 111,233 shares during the period. Finally, Algert Global LLC acquired a new position in Despegar.com during the third quarter worth approximately $878,000. Hedge funds and other institutional investors 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.