Despegar.com, Corp. (NYSE:DESP) Short Interest Update

Despegar.com, Corp. (NYSE:DESP) saw a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 5,840,000 shares, a growth of 6.4% from the July 15th total of 5,490,000 shares. Based on an average daily volume of 1,200,000 shares, the short-interest ratio is presently 4.9 days. Currently, 10.5% of the company’s stock are sold short.

Analyst Ratings Changes

DESP has been the topic of several research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $17.00 target price on shares of Despegar.com in a research report on Friday. Citigroup increased their price objective on Despegar.com from $14.50 to $15.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Finally, B. Riley raised their price objective on Despegar.com from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, May 17th.

Despegar.com Price Performance

Despegar.com stock traded up $0.71 during trading on Monday, reaching $11.00. The company had a trading volume of 1,128,092 shares, compared to its average volume of 924,976. The firm’s 50-day simple moving average is $12.48 and its 200 day simple moving average is $11.85. Despegar.com has a 1-year low of $6.09 and a 1-year high of $15.82.

Despegar.com (NYSE:DESP) last issued its earnings results on Thursday, May 16th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.06. The business had revenue of $173.66 million during the quarter, compared to analysts’ expectations of $172.23 million. Despegar.com had a net margin of 5.41% and a negative return on equity of 44.06%. As a group, equities research analysts anticipate that Despegar.com will post 0.83 earnings per share for the current fiscal year.

Institutional Trading of Despegar.com

Hedge funds and other institutional investors have recently modified their holdings of the stock. Amalgamated Bank acquired a new position in Despegar.com in the second quarter valued at about $28,000. Activest Wealth Management acquired a new stake in Despegar.com during the 1st quarter worth $39,000. Tucker Asset Management LLC purchased a new stake in shares of Despegar.com in the 4th quarter valued at about $40,000. Tower Research Capital LLC TRC boosted its holdings in shares of Despegar.com by 83.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,617 shares of the company’s stock valued at $44,000 after acquiring an additional 2,104 shares during the period. Finally, LRI Investments LLC acquired a new stake in Despegar.com during the 2nd quarter worth $87,000. 67.93% of the stock is owned by institutional investors and hedge funds.

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.