Despegar.com, Corp. (NYSE:DESP - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 2,122,884 shares traded hands during mid-day trading, an increase of 54% from the previous session's volume of 1,378,470 shares.The stock last traded at $19.16 and had previously closed at $19.13.
A number of research analysts recently weighed in on DESP shares. Morgan Stanley upped their price objective on Despegar.com from $17.00 to $21.00 and gave the stock an "overweight" rating in a report on Friday, November 29th. B. Riley downgraded shares of Despegar.com from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. Finally, TD Cowen upgraded shares of Despegar.com from a "sell" rating to a "hold" rating in a research note on Tuesday, December 24th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Despegar.com presently has an average rating of "Hold" and a consensus target price of $17.20.
Read Our Latest Analysis on Despegar.com
The business has a 50-day moving average price of $19.23 and a two-hundred day moving average price of $16.87.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sterling Capital Management LLC raised its position in shares of Despegar.com by 756.8% during the 4th quarter. Sterling Capital Management LLC now owns 1,705 shares of the company's stock worth $33,000 after purchasing an additional 1,506 shares during the last quarter. Quarry LP increased its position in Despegar.com by 107.1% during the third quarter. Quarry LP now owns 2,769 shares of the company's stock worth $34,000 after buying an additional 1,432 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Despegar.com in the fourth quarter worth $68,000. State of Wyoming lifted 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 valued at $74,000 after acquiring an additional 1,996 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Despegar.com during the third quarter valued at $56,000. Institutional investors and hedge funds own 67.93% of the company's stock.
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.
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