Despegar.com (NYSE:DESP) Sees Large Volume Increase – Still a Buy?

Shares of Despegar.com, Corp. (NYSE:DESP) saw strong trading volume on Wednesday . 3,258,071 shares traded hands during mid-day trading, an increase of 139% from the previous session’s volume of 1,365,232 shares.The stock last traded at $19.20 and had previously closed at $19.22.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on DESP shares. B. Riley lowered shares of Despegar.com from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. TD Cowen raised shares of Despegar.com from a “sell” rating to a “hold” rating in a research report on Tuesday, December 24th. Finally, Morgan Stanley increased their price objective 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. Three research 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.com, the stock presently has an average rating of “Hold” and a consensus price target of $17.20.

Despegar.com Stock Down 0.0 %

The business’s 50 day moving average is $19.23 and its 200 day moving average is $16.65.

Institutional Investors Weigh In On Despegar.com

Several hedge funds have recently added to or reduced their stakes in DESP. Sterling Capital Management LLC boosted its holdings in Despegar.com by 756.8% in the fourth quarter. Sterling Capital Management LLC now owns 1,705 shares of the company’s stock valued at $33,000 after purchasing an additional 1,506 shares during the last quarter. Quarry LP raised its position in shares of Despegar.com by 107.1% in the third quarter. Quarry LP now owns 2,769 shares of the company’s stock worth $34,000 after acquiring an additional 1,432 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Despegar.com in the third quarter worth about $56,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Despegar.com in the fourth quarter worth about $68,000. Finally, State of Wyoming raised its position in shares of 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 acquiring an additional 1,996 shares during the period. 67.93% of the stock is owned by hedge funds and other 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.