Despegar.com (NYSE:DESP) Stock Price Down 4.5% – Here’s Why

Despegar.com, Corp. (NYSE:DESP)’s stock price traded down 4.5% during trading on Wednesday . The company traded as low as $16.45 and last traded at $16.67. 306,600 shares traded hands during trading, a decline of 67% from the average session volume of 936,206 shares. The stock had previously closed at $17.45.

Analysts Set New Price Targets

A number of analysts have issued reports on DESP shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $17.00 price target on shares of Despegar.com in a research note on Friday, August 16th. Morgan Stanley increased their target price 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. Finally, TD Cowen downgraded Despegar.com from a “buy” rating to a “sell” rating and upped their price target for the stock from $12.00 to $14.00 in a report on Monday, November 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.20.

Despegar.com Stock Up 2.8 %

The stock has a 50 day simple moving average of $15.08 and a two-hundred day simple moving average of $13.55.

Institutional Trading of Despegar.com

Institutional investors have recently modified their holdings of the stock. Sylebra Capital LLC boosted its position in shares of Despegar.com by 72.5% in the 2nd quarter. Sylebra Capital LLC now owns 2,923,275 shares of the company’s stock valued at $38,675,000 after purchasing an additional 1,228,824 shares during the period. Itau Unibanco Holding S.A. increased its holdings in shares of Despegar.com by 1.3% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 2,099,156 shares of the company’s stock valued at $26,030,000 after acquiring an additional 26,443 shares during the period. Woodson Capital Management LP raised its position in Despegar.com by 78.4% in the 3rd quarter. Woodson Capital Management LP now owns 1,426,952 shares of the company’s stock valued at $17,694,000 after purchasing an additional 626,952 shares during the last quarter. Coronation Fund Managers Ltd. acquired a new stake in Despegar.com during the 2nd quarter worth $15,680,000. Finally, MayTech Global Investments LLC grew its position in Despegar.com by 23.1% during the 3rd quarter. MayTech Global Investments LLC now owns 1,101,684 shares of the company’s stock worth $13,661,000 after purchasing an additional 207,023 shares during the last quarter. 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.