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

Despegar.com, Corp. (NYSE:DESP)’s stock price gapped down before the market opened 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 traded.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. TD Cowen lowered Despegar.com from a “buy” rating to a “sell” rating and lifted their target price 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 objective on shares of Despegar.com in a report on Friday, August 16th.

Despegar.com Trading Down 4.9 %

The firm has a 50-day moving average of $14.17 and a 200 day moving average of $13.25.

Institutional Trading of Despegar.com

Several institutional investors and hedge funds have recently added to or reduced their stakes in DESP. Hsbc Holdings PLC acquired a new stake in shares of Despegar.com in the second quarter valued at approximately $1,102,000. Tidal Investments LLC bought a new position in Despegar.com during the first quarter worth $4,534,000. SG Americas Securities LLC bought a new position in Despegar.com during the second quarter worth $2,006,000. Principal Financial Group Inc. acquired a new position in shares of Despegar.com in the third quarter valued at $591,000. Finally, Rhumbline Advisers acquired a new stake in shares of Despegar.com during the 2nd quarter worth about $1,159,000. 67.93% of the stock is owned by institutional investors.

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.