Despegar.com, Corp. (NYSE:DESP) Short Interest Up 6.8% in November

Despegar.com, Corp. (NYSE:DESP) saw a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 6,420,000 shares, a growth of 6.8% from the October 31st total of 6,010,000 shares. Approximately 13.6% of the company’s shares are sold short. Based on an average trading volume of 979,200 shares, the short-interest ratio is presently 6.6 days.

Despegar.com Trading Down 0.9 %

DESP opened at $17.73 on Tuesday. Despegar.com has a one year low of $8.02 and a one year high of $19.00. The business’s fifty day moving average is $14.81 and its two-hundred day moving average is $13.48.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Morgan Stanley lifted their price target on Despegar.com from $17.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $17.00 price target on shares of Despegar.com in a report on Friday, August 16th. Finally, TD Cowen lowered Despegar.com from a “buy” rating to a “sell” rating and increased their price objective for the company from $12.00 to $14.00 in a research note on Monday, November 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $17.20.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank bought a new stake in Despegar.com during the second quarter worth about $28,000. Quarry LP boosted its stake in shares of Despegar.com by 107.1% in the third quarter. Quarry LP now owns 2,769 shares of the company’s stock valued at $34,000 after buying an additional 1,432 shares during the period. Point72 Asset Management L.P. acquired a new position in Despegar.com during the 3rd quarter worth approximately $56,000. LRI Investments LLC bought a new stake in Despegar.com in the second quarter valued at approximately $87,000. Finally, Sanctuary Advisors LLC bought a new position in Despegar.com in the second quarter worth approximately $128,000. Institutional investors and hedge funds 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.