Despegar.com (NYSE:DESP) Sees Large Volume Increase – What’s Next?

Despegar.com, Corp. (NYSE:DESP) saw unusually-high trading volume on Wednesday . Approximately 3,258,071 shares traded hands during trading, an increase of 139% from the previous session’s volume of 1,365,232 shares.The stock last traded at $19.20 and had previously closed at $19.22.

Wall Street Analysts Forecast Growth

DESP has been the subject of several research reports. Morgan Stanley lifted their price objective on shares of Despegar.com from $17.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. TD Cowen raised Despegar.com from a “sell” rating to a “hold” rating in a research report on Tuesday, December 24th. Finally, B. Riley downgraded Despegar.com from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $17.20.

Despegar.com Stock Performance

The business’s 50 day moving average price is $19.22 and its 200 day moving average price is $16.62.

Institutional Investors Weigh In On Despegar.com

Hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. purchased a new position in shares of Despegar.com in the 3rd quarter valued at about $591,000. Intech Investment Management LLC acquired a new stake in Despegar.com in the third quarter valued at approximately $252,000. Charles Schwab Investment Management Inc. increased its position in shares of Despegar.com by 76.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 256,726 shares of the company’s stock valued at $3,183,000 after buying an additional 111,233 shares in the last quarter. Algert Global LLC acquired a new position in shares of Despegar.com during the 3rd quarter worth approximately $878,000. Finally, FMR LLC acquired a new position in shares of Despegar.com during the 3rd quarter worth approximately $173,000. 67.93% of the stock is owned by hedge funds and other institutional investors.

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.