Despegar.com (NYSE:DESP) Sees Strong Trading Volume - Here's What Happened

Despegar.com, Corp. (NYSE:DESP - Get Free Report) saw strong trading volume on Thursday . 4,664,734 shares traded hands during mid-day trading, an increase of 259% from the previous session's volume of 1,297,780 shares.The stock last traded at $19.25 and had previously closed at $19.23.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. TD Cowen upgraded shares of Despegar.com from a "sell" rating to a "hold" rating in a report on Tuesday, December 24th. Morgan Stanley lifted their target price on Despegar.com from $17.00 to $21.00 and gave the company an "overweight" rating in a report on Friday, November 29th. Finally, B. Riley cut Despegar.com from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $17.20.

Despegar.com Stock Down 0.1 %

The firm has a fifty day moving average of $19.22 and a 200 day moving average of $16.26.

Institutional Trading of Despegar.com

Several institutional investors have recently modified their holdings of DESP. Sylebra Capital LLC lifted its position in Despegar.com by 62.8% in the fourth quarter. Sylebra Capital LLC now owns 4,760,433 shares of the company's stock valued at $91,638,000 after acquiring an additional 1,837,158 shares during the last quarter. Nuveen Asset Management LLC increased its position in Despegar.com by 428.5% during the fourth quarter. Nuveen Asset Management LLC now owns 2,381,714 shares of the company's stock worth $45,848,000 after buying an additional 1,931,033 shares during the period. Itau Unibanco Holding S.A. boosted its holdings in shares of Despegar.com by 1.3% in the third quarter. Itau Unibanco Holding S.A. now owns 2,099,156 shares of the company's stock valued at $26,030,000 after acquiring an additional 26,443 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Despegar.com by 106.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,793,424 shares of the company's stock valued at $34,523,000 after acquiring an additional 925,500 shares during the period. Finally, Woodson Capital Management LP grew its holdings in shares of Despegar.com by 78.4% during the third quarter. Woodson Capital Management LP now owns 1,426,952 shares of the company's stock worth $17,694,000 after buying an additional 626,952 shares during the last quarter. Hedge funds and other institutional investors own 67.93% of the company's stock.

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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.