Despegar.com, Corp. (NYSE:DESP) Short Interest Update

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DESP. Morgan Stanley lifted their target price on Despegar.com from $17.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. TD Cowen lowered shares of Despegar.com from a “buy” rating to a “sell” rating and lifted their price objective for the stock from $12.00 to $14.00 in a research note on Monday, November 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $17.20.

Institutional Trading of Despegar.com

Several institutional investors and hedge funds have recently made changes to their positions in DESP. Amalgamated Bank purchased a new stake in shares of Despegar.com in the second quarter valued at approximately $28,000. Quarry LP lifted its holdings in shares of Despegar.com by 107.1% in the 3rd quarter. Quarry LP now owns 2,769 shares of the company’s stock worth $34,000 after buying an additional 1,432 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Despegar.com during the 3rd quarter worth $56,000. LRI Investments LLC purchased a new position in shares of Despegar.com during the second quarter valued at $87,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Despegar.com in the second quarter valued at about $128,000. 67.93% of the stock is currently owned by institutional investors.

Despegar.com Price Performance

Shares of DESP stock traded down $0.37 on Tuesday, reaching $16.54. 1,046,807 shares of the company’s stock were exchanged, compared to its average volume of 937,366. The company’s fifty day simple moving average is $15.66 and its 200 day simple moving average is $13.63. Despegar.com has a 52 week low of $8.06 and a 52 week high of $19.00.

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.