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

Shares of Despegar.com, Corp. (NYSE:DESP) saw strong trading volume on Thursday . 4,664,734 shares traded hands during mid-day trading, an increase of 259% from the previous session’s volume of 1,297,780 shares.The stock last traded at $19.25 and had previously closed at $19.23.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. TD Cowen upgraded Despegar.com from a “sell” rating to a “hold” rating in a research report on Tuesday, December 24th. B. Riley downgraded Despegar.com from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Finally, Morgan Stanley raised their price target 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $17.20.

Despegar.com Price Performance

The business has a 50 day simple moving average of $19.22 and a two-hundred day simple moving average of $16.18.

Institutional Trading of Despegar.com

A number of hedge funds and other institutional investors have recently bought and sold shares of DESP. Nuveen Asset Management LLC increased its stake in Despegar.com by 428.5% in the fourth quarter. Nuveen Asset Management LLC now owns 2,381,714 shares of the company’s stock worth $45,848,000 after purchasing an additional 1,931,033 shares during the period. Sylebra Capital LLC increased its stake in shares of Despegar.com by 62.8% during the fourth quarter. Sylebra Capital LLC now owns 4,760,433 shares of the company’s stock valued at $91,638,000 after buying an additional 1,837,158 shares during the period. Prevatt Capital Ltd purchased a new position in shares of Despegar.com during the fourth quarter valued at $27,335,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Despegar.com by 2,086.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,137,974 shares of the company’s stock valued at $21,906,000 after buying an additional 1,085,931 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of Despegar.com by 2,020.9% during the fourth quarter. Ameriprise Financial Inc. now owns 1,070,723 shares of the company’s stock valued at $20,611,000 after buying an additional 1,020,238 shares during the period. Hedge funds and other 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.