Despegar.com (NYSE:DESP) Sees Large Volume Increase – Still a Buy?

Despegar.com, Corp. (NYSE:DESP) shares saw unusually-strong trading volume on Wednesday . Approximately 3,258,071 shares traded hands during trading, an increase of 139% from the previous session’s volume of 1,365,232 shares.The stock last traded at $19.20 and had previously closed at $19.22.

Wall Street Analysts Forecast Growth

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

Despegar.com Trading Down 0.0 %

The stock’s 50-day moving average is $19.23 and its two-hundred day moving average is $16.65.

Hedge Funds Weigh In On Despegar.com

Hedge funds have recently made changes to their positions in the stock. 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 worth $33,000 after purchasing an additional 1,506 shares during the period. Quarry LP lifted its holdings in Despegar.com by 107.1% during the 3rd quarter. Quarry LP now owns 2,769 shares of the company’s stock worth $34,000 after buying an additional 1,432 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Despegar.com during the 3rd quarter worth approximately $56,000. Harvest Fund Management Co. Ltd acquired a new stake in Despegar.com during the 4th quarter worth approximately $68,000. Finally, State of Wyoming lifted its holdings in Despegar.com by 107.9% during the 4th quarter. State of Wyoming now owns 3,846 shares of the company’s stock worth $74,000 after buying an additional 1,996 shares in the last quarter. Hedge funds and other institutional investors own 67.93% of the company’s stock.

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.