Despegar.com (NYSE:DESP) Shares Down 4% – Time to Sell?

Shares of Despegar.com, Corp. (NYSE:DESP) dropped 4% during trading on Tuesday . The stock traded as low as $16.01 and last traded at $16.23. Approximately 130,411 shares traded hands during trading, a decline of 86% from the average daily volume of 933,594 shares. The stock had previously closed at $16.91.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DESP. TD Cowen downgraded Despegar.com from a “buy” rating to a “sell” rating and upped their price objective for the stock from $12.00 to $14.00 in a report on Monday, November 25th. Morgan Stanley lifted their price objective on Despegar.com from $17.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, November 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $17.20.

Despegar.com Stock Performance

The firm’s 50 day moving average is $15.77 and its two-hundred day moving average is $13.65.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Amalgamated Bank acquired a new position in shares of Despegar.com during the second quarter worth approximately $28,000. Quarry LP raised its stake in Despegar.com by 107.1% during the 3rd quarter. Quarry LP now owns 2,769 shares of the company’s stock valued at $34,000 after acquiring an additional 1,432 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Despegar.com during the 3rd quarter worth $56,000. LRI Investments LLC bought a new position in shares of Despegar.com in the second quarter worth $87,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of Despegar.com during the second quarter valued at $128,000. 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.