Short Interest in Despegar.com, Corp. (NYSE:DESP) Grows By 62.6%

Despegar.com, Corp. (NYSE:DESP - Get Free Report) was the recipient of a large increase in short interest in February. As of February 28th, there was short interest totalling 2,650,000 shares, an increase of 62.6% from the February 13th total of 1,630,000 shares. Based on an average trading volume of 2,130,000 shares, the short-interest ratio is currently 1.2 days. Approximately 4.1% of the shares of the company are short sold.

Despegar.com Stock Down 0.0 %

NYSE DESP traded down $0.01 during trading hours on Wednesday, reaching $19.22. 3,781,086 shares of the company's stock were exchanged, compared to its average volume of 1,367,262. The firm has a fifty day moving average of $19.22 and a 200-day moving average of $16.62. Despegar.com has a one year low of $9.25 and a one year high of $19.55.

Analyst Upgrades and Downgrades

DESP has been the topic of several recent research reports. Morgan Stanley lifted their price objective on Despegar.com from $17.00 to $21.00 and gave the stock an "overweight" rating in a report on Friday, November 29th. B. Riley downgraded shares of Despegar.com from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Finally, TD Cowen raised shares of Despegar.com from a "sell" rating to a "hold" rating in a research report on Tuesday, December 24th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Despegar.com has an average rating of "Hold" and an average target price of $17.20.

Remove Ads

Institutional Trading of Despegar.com

Hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. bought a new stake in Despegar.com during the 3rd quarter worth about $591,000. MayTech Global Investments LLC lifted its position in shares of Despegar.com by 23.1% during the third 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 in the last quarter. Franklin Resources Inc. bought a new stake in shares of Despegar.com during the third quarter valued at approximately $395,000. Barclays PLC grew its stake in shares of Despegar.com by 298.5% during the third quarter. Barclays PLC now owns 91,888 shares of the company's stock valued at $1,139,000 after purchasing an additional 68,829 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Despegar.com by 76.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 256,726 shares of the company's stock valued at $3,183,000 after purchasing an additional 111,233 shares in the last quarter. 67.93% of the stock is currently owned by institutional investors and hedge funds.

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.