Despegar.com Target of Unusually High Options Trading (NYSE:DESP)

Despegar.com, Corp. (NYSE:DESP) saw some unusual options trading on Monday. Investors bought 5,699 call options on the company. This represents an increase of 1,260% compared to the typical volume of 419 call options.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Amalgamated Bank purchased a new stake in Despegar.com in the 2nd quarter valued at $28,000. Quarry LP lifted its stake in Despegar.com by 107.1% in the third quarter. Quarry LP now owns 2,769 shares of the company’s stock valued at $34,000 after purchasing an additional 1,432 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Despegar.com during the third quarter valued at $56,000. Sanctuary Advisors LLC purchased a new stake in Despegar.com in the 2nd quarter worth about $128,000. Finally, MQS Management LLC purchased a new position in shares of Despegar.com in the second quarter worth about $136,000. Institutional investors and hedge funds own 67.93% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on DESP shares. Morgan Stanley boosted their price target 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 cut shares of Despegar.com from a “buy” rating to a “sell” rating and increased their price objective for the stock from $12.00 to $14.00 in a research report on Monday, November 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to MarketBeat, Despegar.com has a consensus rating of “Hold” and an average price target of $17.20.

Despegar.com Stock Performance

Despegar.com stock traded up $4.63 during midday trading on Monday, reaching $19.28. The stock had a trading volume of 5,706,317 shares, compared to its average volume of 955,506. The company has a fifty day moving average price of $15.84 and a two-hundred day moving average price of $13.64. Despegar.com has a 12 month low of $8.06 and a 12 month high of $19.45.

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.