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

Despegar.com, Corp. (NYSE:DESP) shares saw unusually-high trading volume on Wednesday . Approximately 2,122,884 shares changed hands during mid-day trading, an increase of 54% from the previous session’s volume of 1,378,470 shares.The stock last traded at $19.16 and had previously closed at $19.13.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on DESP shares. TD Cowen raised shares of Despegar.com from a “sell” rating to a “hold” rating in a research note on Tuesday, December 24th. B. Riley lowered Despegar.com from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, Morgan Stanley upped their price objective on Despegar.com from $17.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, November 29th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Despegar.com currently has a consensus rating of “Hold” and an average price target of $17.20.

Despegar.com Price Performance

The business’s 50-day simple moving average is $19.23 and its two-hundred day simple moving average is $16.90.

Institutional Trading of Despegar.com

A number of institutional investors have recently bought and sold shares of DESP. Gilder Gagnon Howe & Co. LLC grew its position in Despegar.com by 1.1% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 93,473 shares of the company’s stock valued at $1,799,000 after purchasing an additional 1,010 shares during the period. Quarry LP boosted its stake in Despegar.com by 107.1% in the third 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 grew 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 period. Legal & General Group Plc increased its stake 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 worth $254,000 after purchasing an additional 1,588 shares during the last quarter. Finally, State of Wyoming raised its holdings in shares of Despegar.com by 107.9% in the 4th quarter. State of Wyoming now owns 3,846 shares of the company’s stock worth $74,000 after purchasing an additional 1,996 shares during the period. Institutional investors own 67.93% of the company’s stock.

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.