Despegar.com, Corp. (NYSE:DESP) Short Interest Up 62.6% in February

Despegar.com, Corp. (NYSE:DESP) saw a significant growth in short interest in February. As of February 28th, there was short interest totalling 2,650,000 shares, a growth of 62.6% from the February 13th total of 1,630,000 shares. Based on an average daily volume of 2,130,000 shares, the short-interest ratio is currently 1.2 days. Currently, 4.1% of the company’s stock are sold short.

Despegar.com Trading Up 0.2 %

DESP opened at $19.25 on Monday. Despegar.com has a 12-month low of $9.25 and a 12-month high of $19.55. The stock has a fifty day simple moving average of $19.22 and a two-hundred day simple moving average of $16.52.

Analysts Set New Price Targets

Several analysts have issued reports on the company. TD Cowen upgraded Despegar.com from a “sell” rating to a “hold” rating in a research note on Tuesday, December 24th. B. Riley lowered shares of Despegar.com from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Finally, Morgan Stanley boosted their price target on shares of Despegar.com from $17.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $17.20.

Institutional Investors Weigh In On Despegar.com

A number of hedge funds and other institutional investors have recently bought and sold shares of DESP. Gilder Gagnon Howe & Co. LLC boosted its position in shares of Despegar.com by 1.1% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 93,473 shares of the company’s stock valued at $1,799,000 after buying an additional 1,010 shares during the last quarter. Quarry LP boosted its holdings in shares of Despegar.com by 107.1% during the 3rd quarter. Quarry LP now owns 2,769 shares of the company’s stock valued at $34,000 after acquiring an additional 1,432 shares during the last quarter. Sterling Capital Management LLC grew its stake in shares of Despegar.com by 756.8% in the fourth quarter. Sterling Capital Management LLC now owns 1,705 shares of the company’s stock worth $33,000 after acquiring an additional 1,506 shares during the period. Legal & General Group Plc lifted its position in Despegar.com by 13.7% during the fourth quarter. Legal & General Group Plc now owns 13,199 shares of the company’s stock valued at $254,000 after purchasing an additional 1,588 shares during the period. Finally, State of Wyoming boosted its holdings in Despegar.com by 107.9% in the fourth quarter. State of Wyoming now owns 3,846 shares of the company’s stock worth $74,000 after purchasing an additional 1,996 shares during the last quarter. Hedge funds and other 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.