Despegar.com, Corp. (NYSE:DESP) Short Interest Down 7.6% in September

Despegar.com, Corp. (NYSE:DESP) was the recipient of a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 6,420,000 shares, a decline of 7.6% from the August 31st total of 6,950,000 shares. Currently, 14.4% of the company’s stock are short sold. Based on an average daily volume of 1,110,000 shares, the days-to-cover ratio is presently 5.8 days.

Despegar.com Stock Performance

Shares of DESP stock traded down $0.08 during trading hours on Tuesday, reaching $12.32. The company had a trading volume of 903,596 shares, compared to its average volume of 897,477. The business has a fifty day moving average price of $11.66 and a 200-day moving average price of $12.56. Despegar.com has a one year low of $6.09 and a one year high of $15.82.

Despegar.com (NYSE:DESP) last posted its earnings results on Thursday, August 15th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. The business had revenue of $185.05 million during the quarter, compared to the consensus estimate of $184.35 million. Despegar.com had a net margin of 3.30% and a negative return on equity of 62.18%. As a group, equities research analysts expect that Despegar.com will post 0.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $17.00 target price on shares of Despegar.com in a research note on Friday, August 16th. Citigroup upped their price objective on Despegar.com from $14.50 to $15.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Finally, TD Cowen lifted their target price on Despegar.com from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th.

Institutional Trading of Despegar.com

A number of hedge funds have recently bought and sold shares of the company. Amalgamated Bank purchased a new position in Despegar.com in the second quarter worth about $28,000. Tucker Asset Management LLC purchased a new position in shares of Despegar.com in the fourth quarter worth approximately $40,000. LRI Investments LLC bought a new stake in Despegar.com during the second quarter valued at approximately $87,000. Hood River Capital Management LLC bought a new stake in Despegar.com during the first quarter valued at approximately $101,000. Finally, Adalta Capital Management LLC purchased a new stake in Despegar.com during the first quarter valued at approximately $120,000. Hedge funds and other institutional investors own 67.93% of the company’s stock.

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.