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

Shares of Despegar.com, Corp. (NYSE:DESP) saw unusually-high trading volume on Tuesday . Approximately 777,306 shares changed hands during mid-day trading, a decline of 22% from the previous session’s volume of 994,555 shares.The stock last traded at $19.39 and had previously closed at $19.46.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. 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 upgraded shares of Despegar.com from a “sell” rating to a “hold” rating in a research report 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.20.

Despegar.com Trading Down 0.1 %

The business’s 50 day moving average is $16.11 and its two-hundred day moving average is $13.71.

Institutional Trading of Despegar.com

A number of hedge funds and other institutional investors have recently made changes to their positions in DESP. Hsbc Holdings PLC acquired a new position in shares of Despegar.com during the second quarter valued at approximately $1,102,000. Principal Financial Group Inc. acquired a new position in shares of Despegar.com during the 3rd quarter valued at $591,000. MayTech Global Investments LLC raised its stake in shares of Despegar.com by 23.1% in the 3rd quarter. MayTech Global Investments LLC now owns 1,101,684 shares of the company’s stock worth $13,661,000 after buying an additional 207,023 shares in the last quarter. Rhumbline Advisers bought a new stake in shares of Despegar.com in the 2nd quarter worth $1,159,000. Finally, Yarra Square Partners LP lifted its holdings in shares of Despegar.com by 15.2% in the second quarter. Yarra Square Partners LP now owns 443,400 shares of the company’s stock valued at $5,866,000 after buying an additional 58,400 shares during the period. 67.93% of the stock is currently owned by institutional investors.

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.