Investors Purchase High Volume of Call Options on Despegar.com (NYSE:DESP)

Despegar.com, Corp. (NYSE:DESP) was the recipient of some unusual options trading activity on Monday. Stock traders bought 5,699 call options on the stock. This is an increase of approximately 1,260% compared to the typical daily volume of 419 call options.

Despegar.com Stock Down 0.1 %

Shares of NYSE DESP opened at $19.45 on Wednesday. Despegar.com has a twelve month low of $8.06 and a twelve month high of $19.55. The stock has a fifty day simple moving average of $15.98 and a 200-day simple moving average of $13.67.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Morgan Stanley upped their price target on Despegar.com from $17.00 to $21.00 and gave the company an “overweight” rating in a research note 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. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Despegar.com presently has an average rating of “Moderate Buy” and an average target price of $17.20.

Hedge Funds Weigh In On Despegar.com

Several institutional investors have recently bought and sold shares of DESP. Amalgamated Bank purchased a new position in Despegar.com in the 2nd quarter valued at approximately $28,000. Quarry LP raised its stake in shares of 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 in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Despegar.com in the third quarter valued at $56,000. Sanctuary Advisors LLC purchased a new position in Despegar.com in the second quarter valued at $128,000. Finally, MQS Management LLC acquired a new position in Despegar.com during the 2nd quarter worth $136,000. 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.