Despegar.com, Corp. (NYSE:DESP) Sees Large Drop in Short Interest

Despegar.com, Corp. (NYSE:DESP) was the target of a large decline in short interest in November. As of November 30th, there was short interest totalling 5,780,000 shares, a decline of 10.0% from the November 15th total of 6,420,000 shares. Based on an average daily volume of 989,000 shares, the short-interest ratio is currently 5.8 days. Currently, 12.2% of the company’s stock are sold short.

Despegar.com Stock Performance

NYSE DESP traded down $0.37 on Tuesday, reaching $16.54. The stock had a trading volume of 1,046,807 shares, compared to its average volume of 937,366. The firm has a fifty day moving average of $15.66 and a two-hundred day moving average of $13.63. Despegar.com has a 1-year low of $8.06 and a 1-year high of $19.00.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. TD Cowen cut Despegar.com from a “buy” rating to a “sell” rating and boosted their target price for the company from $12.00 to $14.00 in a research note on Monday, November 25th. Morgan Stanley boosted their target price on Despegar.com from $17.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, November 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $17.20.

Institutional Trading of Despegar.com

Several large investors have recently modified their holdings of DESP. Franklin Resources Inc. bought a new stake in shares of Despegar.com during the 3rd quarter worth $395,000. Blankinship & Foster LLC bought a new stake in shares of Despegar.com during the 3rd quarter worth $288,000. SkyView Investment Advisors LLC lifted its position in shares of Despegar.com by 1.7% during the 3rd quarter. SkyView Investment Advisors LLC now owns 247,453 shares of the company’s stock worth $3,068,000 after buying an additional 4,118 shares during the last quarter. Barclays PLC lifted its position in shares of Despegar.com by 298.5% during the 3rd quarter. Barclays PLC now owns 91,888 shares of the company’s stock worth $1,139,000 after buying an additional 68,829 shares during the last quarter. Finally, TT International Asset Management LTD bought a new stake in shares of Despegar.com during the 3rd quarter worth $8,763,000. 67.93% of the stock is owned by institutional investors and hedge funds.

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.