Despegar.com, Corp. (NYSE:DESP) Sees Large Increase in Short Interest

Despegar.com, Corp. (NYSE:DESP) saw a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 2,650,000 shares, an increase of 62.6% from the February 13th total of 1,630,000 shares. Based on an average trading volume of 2,130,000 shares, the days-to-cover ratio is presently 1.2 days. Approximately 4.1% of the shares of the company are sold short.

Despegar.com Price Performance

Shares of NYSE DESP opened at $19.25 on Monday. Despegar.com has a 1 year low of $9.25 and a 1 year high of $19.55. The firm has a fifty day moving average price of $19.22 and a 200-day moving average price of $16.52.

Institutional Investors Weigh In On Despegar.com

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sterling Capital Management LLC boosted its position in shares of Despegar.com by 756.8% during the fourth quarter. Sterling Capital Management LLC now owns 1,705 shares of the company’s stock worth $33,000 after acquiring an additional 1,506 shares during the last quarter. Quarry LP boosted its stake in Despegar.com by 107.1% during the third quarter. Quarry LP now owns 2,769 shares of the company’s stock valued at $34,000 after buying an additional 1,432 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Despegar.com during the 4th quarter valued at approximately $68,000. State of Wyoming increased its stake in 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 acquiring an additional 1,996 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Despegar.com during the 3rd quarter worth approximately $56,000. 67.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

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.