Despegar.com (NYSE:DESP) Sees Strong Trading Volume – Here’s Why

Despegar.com, Corp. (NYSE:DESP) saw unusually-high trading volume on Thursday . Approximately 4,664,734 shares were traded 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 Upgrades and Downgrades

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

Despegar.com Stock Up 0.1 %

The company has a 50 day simple moving average of $19.22 and a two-hundred day simple moving average of $16.18.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Gilder Gagnon Howe & Co. LLC boosted its position in shares of Despegar.com by 1.1% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 93,473 shares of the company’s stock valued at $1,799,000 after acquiring an additional 1,010 shares during the last quarter. Quarry LP boosted its position in shares of Despegar.com by 107.1% during the 3rd quarter. Quarry LP now owns 2,769 shares of the company’s stock valued at $34,000 after acquiring an additional 1,432 shares during the last quarter. Sterling Capital Management LLC boosted its position in shares of Despegar.com by 756.8% during the 4th quarter. Sterling Capital Management LLC now owns 1,705 shares of the company’s stock valued at $33,000 after acquiring an additional 1,506 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Despegar.com by 13.7% during the 4th quarter. Legal & General Group Plc now owns 13,199 shares of the company’s stock valued at $254,000 after acquiring an additional 1,588 shares during the last quarter. Finally, State of Wyoming boosted its position in shares of Despegar.com by 107.9% during the 4th quarter. State of Wyoming now owns 3,846 shares of the company’s stock valued at $74,000 after acquiring an additional 1,996 shares during the last quarter. 67.93% of the stock is currently owned by 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.