Despegar.com (NYSE:DESP) Sees Unusually-High Trading Volume – What’s Next?

Despegar.com, Corp. (NYSE:DESP) shares saw unusually-strong trading volume on Thursday . Approximately 2,522,924 shares changed hands during mid-day trading, an increase of 8% from the previous session’s volume of 2,332,273 shares.The stock last traded at $19.18 and had previously closed at $19.22.

Analyst Ratings Changes

A number of research firms recently commented on DESP. TD Cowen upgraded shares of Despegar.com from a “sell” rating to a “hold” rating in a report on Tuesday, December 24th. Morgan Stanley upped their price target on Despegar.com from $17.00 to $21.00 and gave the company an “overweight” rating in a report on Friday, November 29th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Despegar.com has a consensus rating of “Moderate Buy” and a consensus target price of $17.20.

Despegar.com Stock Down 0.2 %

The firm’s fifty day simple moving average is $18.28 and its 200 day simple moving average is $14.75.

Institutional Trading of Despegar.com

Several large investors have recently added to or reduced their stakes in DESP. Amalgamated Bank purchased a new position in shares of Despegar.com during the second quarter valued at $28,000. Quarry LP boosted its position in Despegar.com by 107.1% during the 3rd quarter. Quarry LP now owns 2,769 shares of the company’s stock worth $34,000 after acquiring an additional 1,432 shares during the period. Point72 Asset Management L.P. purchased a new position in Despegar.com during the 3rd quarter valued at about $56,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Despegar.com in the 4th quarter valued at about $104,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Despegar.com in the second quarter worth approximately $128,000. 67.93% of the stock is owned by institutional investors and hedge funds.

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.