Despegar.com (DESP) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Despegar.com (NYSE:DESP) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.

According to Zacks, “Despegar.com, Corp. provides online travel booking services. The Company’s business segment consists of Air, as well as Packages, Hotels and Other Travel Products. It offers online hotels, car, flights, vacation rentals, packages, and ticket booking services. The company’s destinations include Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Spain, the United States, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Puerto Rico, Dominican Republic, Uruguay and Venezuela. Despegar.com, Corp. is based in Buenos Aires, Argentina. “

Separately, KeyCorp started coverage on shares of Despegar.com in a report on Tuesday, December 18th. They issued a sector weight rating on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $28.00.

Despegar.com stock traded down $0.19 on Wednesday, hitting $17.80. The company’s stock had a trading volume of 164,419 shares, compared to its average volume of 399,713. The firm has a market capitalization of $1.25 billion, a PE ratio of 25.80 and a beta of 0.91. Despegar.com has a one year low of $11.11 and a one year high of $36.56.

A number of institutional investors have recently made changes to their positions in the business. Legal & General Group Plc bought a new stake in shares of Despegar.com in the 3rd quarter worth about $83,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Despegar.com during the third quarter worth $102,000. PNC Financial Services Group Inc. lifted its holdings in shares of Despegar.com by 140.0% during the third quarter. PNC Financial Services Group Inc. now owns 6,066 shares of the company’s stock worth $102,000 after buying an additional 3,538 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in shares of Despegar.com during the fourth quarter worth $94,000. Finally, Bank of America Corp DE acquired a new stake in shares of Despegar.com during the second quarter worth $173,000. 67.67% of the stock is currently owned by hedge funds and other institutional investors.

About Despegar.com

Despegar.com, Corp., an online travel company, provides a range of travel and travel-related products through its Websites and mobile applications in Latin America. It operates through two segments, Air; and Packages, Hotels and Other Travel Products. The company offers airline tickets, packages, hotels, and other travel-related products under the Despegar and Decolar brands, which enable consumers to find, compare, plan, and purchase travel products through its marketplace.

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