Despegar.com (NYSE:DESP) Sees Large Volume Increase – What’s Next?

Despegar.com, Corp. (NYSE:DESP) saw an uptick in trading volume on Wednesday . 2,122,884 shares traded hands during mid-day trading, an increase of 54% from the previous session’s volume of 1,378,470 shares.The stock last traded at $19.16 and had previously closed at $19.13.

Wall Street Analysts Forecast Growth

DESP has been the subject of a number of recent analyst reports. B. Riley lowered shares of Despegar.com from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Morgan Stanley boosted their target price on Despegar.com from $17.00 to $21.00 and gave the stock 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 research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Despegar.com currently has an average rating of “Hold” and a consensus price target of $17.20.

Despegar.com Stock Down 0.0 %

The stock’s fifty day moving average price is $19.23 and its 200 day moving average price is $16.90.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Intech Investment Management LLC purchased a new position in shares of Despegar.com in the 3rd quarter worth about $252,000. Charles Schwab Investment Management Inc. boosted its stake in Despegar.com by 76.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 256,726 shares of the company’s stock worth $3,183,000 after buying an additional 111,233 shares in the last quarter. Algert Global LLC bought a new position in Despegar.com during the third quarter valued at approximately $878,000. FMR LLC purchased a new position in shares of Despegar.com during the third quarter worth approximately $173,000. Finally, MetLife Investment Management LLC lifted its holdings in shares of Despegar.com by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 35,636 shares of the company’s stock worth $442,000 after acquiring an additional 20,080 shares during the last quarter. 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.