Short Interest in Despegar.com, Corp. (NYSE:DESP) Rises By 53.8%

Despegar.com, Corp. (NYSE:DESP - Get Free Report) was the recipient of a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 1,630,000 shares, an increase of 53.8% from the January 31st total of 1,060,000 shares. Approximately 2.5% of the company's shares are sold short. Based on an average trading volume of 1,900,000 shares, the short-interest ratio is presently 0.9 days.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DESP. Nuveen Asset Management LLC lifted its holdings in Despegar.com by 428.5% in the 4th quarter. Nuveen Asset Management LLC now owns 2,381,714 shares of the company's stock worth $45,848,000 after purchasing an additional 1,931,033 shares in the last quarter. Sylebra Capital LLC boosted its holdings in shares of Despegar.com by 62.8% during the 4th quarter. Sylebra Capital LLC now owns 4,760,433 shares of the company's stock valued at $91,638,000 after purchasing an additional 1,837,158 shares during the last quarter. Prevatt Capital Ltd purchased a new position in shares of Despegar.com during the fourth quarter valued at about $27,335,000. Arrowstreet Capital Limited Partnership grew its holdings in Despegar.com by 2,086.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,137,974 shares of the company's stock valued at $21,906,000 after buying an additional 1,085,931 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in Despegar.com by 2,020.9% in the fourth quarter. Ameriprise Financial Inc. now owns 1,070,723 shares of the company's stock worth $20,611,000 after purchasing an additional 1,020,238 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 Stock Up 0.1 %

Shares of NYSE DESP traded up $0.02 during trading on Thursday, hitting $19.25. The company had a trading volume of 5,554,116 shares, compared to its average volume of 1,301,155. Despegar.com has a 12 month low of $8.64 and a 12 month high of $19.55. The stock has a 50 day simple moving average of $19.22 and a 200 day simple moving average of $16.10.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DESP. TD Cowen raised shares of Despegar.com from a "sell" rating to a "hold" rating in a research report on Tuesday, December 24th. 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. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $17.20.

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.