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

Despegar.com, Corp. (NYSE:DESP) saw unusually-high trading volume on Thursday . Approximately 2,522,924 shares traded hands during mid-day trading, an increase of 8% from the previous session’s volume of 2,332,273 shares.The stock last traded at $19.18 and had previously closed at $19.22.

Wall Street Analyst Weigh In

A number of equities analysts have commented on DESP shares. Morgan Stanley boosted their price target on shares of Despegar.com from $17.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. TD Cowen raised Despegar.com from a “sell” rating to a “hold” rating in a research note on Tuesday, December 24th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $17.20.

Despegar.com Stock Performance

The firm’s 50-day simple moving average is $18.30 and its 200-day simple moving average is $14.82.

Institutional Investors Weigh In On Despegar.com

Institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company bought a new position in shares of Despegar.com during the second quarter valued at approximately $298,000. Sanctuary Advisors LLC bought a new stake in shares of Despegar.com during the 2nd quarter valued at about $128,000. Deltec Asset Management LLC purchased a new position in shares of Despegar.com during the third quarter valued at about $1,029,000. US Bancorp DE bought a new position in Despegar.com in the third quarter worth about $332,000. Finally, Principal Financial Group Inc. purchased a new stake in Despegar.com in the third quarter worth about $591,000. 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.