Despegar.com, Corp. (NYSE:DESP) Short Interest Down 30.3% in January

Despegar.com, Corp. (NYSE:DESP - Get Free Report) was the recipient of a significant drop in short interest in January. As of January 31st, there was short interest totalling 1,060,000 shares, a drop of 30.3% from the January 15th total of 1,520,000 shares. Based on an average trading volume of 1,920,000 shares, the days-to-cover ratio is currently 0.6 days. Approximately 1.7% of the company's stock are short sold.

Despegar.com Trading Up 0.1 %

NYSE:DESP traded up $0.02 on Tuesday, hitting $19.35. The stock had a trading volume of 607,548 shares, compared to its average volume of 2,122,593. The business's 50-day simple moving average is $18.68 and its two-hundred day simple moving average is $15.39. Despegar.com has a 52-week low of $8.46 and a 52-week high of $19.55.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DESP. Morgan Stanley raised their price target on Despegar.com from $17.00 to $21.00 and gave the company an "overweight" rating in a report on Friday, November 29th. TD Cowen upgraded Despegar.com from a "sell" rating to a "hold" rating in a report on Tuesday, December 24th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $17.20.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of DESP. The Manufacturers Life Insurance Company purchased a new position in shares of Despegar.com during the 2nd quarter valued at about $298,000. Sanctuary Advisors LLC purchased a new position in shares of Despegar.com during the 2nd quarter valued at about $128,000. Deltec Asset Management LLC purchased a new position in shares of Despegar.com during the 3rd quarter valued at about $1,029,000. US Bancorp DE purchased a new position in shares of Despegar.com during the 3rd quarter valued at about $332,000. Finally, Principal Financial Group Inc. purchased a new position in shares of Despegar.com during the 3rd quarter valued at about $591,000. 67.93% of the stock is owned by hedge funds and other 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.