Despegar.com (NYSE:DESP) Shares Gap Down – Here’s What Happened

Despegar.com, Corp. (NYSE:DESP) gapped down prior to trading on Monday . The stock had previously closed at $18.75, but opened at $18.15. Despegar.com shares last traded at $18.03, with a volume of 124,361 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on DESP shares. TD Cowen lowered Despegar.com from a “buy” rating to a “sell” rating and increased their price target for the company from $12.00 to $14.00 in a research report on Monday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $17.00 price target on shares of Despegar.com in a research note on Friday, August 16th.

Despegar.com Trading Up 2.1 %

The business’s fifty day simple moving average is $14.38 and its two-hundred day simple moving average is $13.33.

Hedge Funds Weigh In On Despegar.com

Several large investors have recently bought and sold shares of DESP. Sylebra Capital LLC lifted its holdings 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 last quarter. Itau Unibanco Holding S.A. lifted its stake in Despegar.com by 1.3% in the third quarter. Itau Unibanco Holding S.A. now owns 2,099,156 shares of the company’s stock valued at $26,030,000 after buying an additional 26,443 shares during the last quarter. Woodson Capital Management LP boosted its holdings in shares of Despegar.com by 78.4% in the third quarter. Woodson Capital Management LP now owns 1,426,952 shares of the company’s stock valued at $17,694,000 after acquiring an additional 626,952 shares during the period. Coronation Fund Managers Ltd. purchased a new position in shares of Despegar.com during the second quarter worth approximately $15,680,000. Finally, MayTech Global Investments LLC increased its holdings in shares of Despegar.com by 23.1% in the 3rd quarter. MayTech Global Investments LLC now owns 1,101,684 shares of the company’s stock valued at $13,661,000 after acquiring an additional 207,023 shares during the period. 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.