Despegar.com (NYSE:DESP) Sees Large Volume Increase – Should You Buy?

Despegar.com, Corp. (NYSE:DESP) saw unusually-strong trading volume on Wednesday . Approximately 2,122,884 shares traded hands during trading, an increase of 54% from the previous session’s volume of 1,378,470 shares.The stock last traded at $19.16 and had previously closed at $19.13.

Analysts Set New Price Targets

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

Despegar.com Stock Performance

The stock’s 50 day simple moving average is $19.23 and its two-hundred day simple moving average is $16.87.

Institutional Trading of Despegar.com

Several large investors have recently added to or reduced their stakes in the stock. Sylebra Capital LLC boosted its holdings in Despegar.com by 62.8% in the 4th quarter. Sylebra Capital LLC now owns 4,760,433 shares of the company’s stock worth $91,638,000 after acquiring an additional 1,837,158 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of Despegar.com by 428.5% in the fourth quarter. Nuveen Asset Management LLC now owns 2,381,714 shares of the company’s stock valued at $45,848,000 after purchasing an additional 1,931,033 shares during the period. Itau Unibanco Holding S.A. grew its holdings in Despegar.com by 1.3% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 2,099,156 shares of the company’s stock valued at $26,030,000 after purchasing an additional 26,443 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Despegar.com by 106.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,793,424 shares of the company’s stock worth $34,523,000 after buying an additional 925,500 shares during the period. Finally, Woodson Capital Management LP lifted its holdings in Despegar.com by 78.4% in the 3rd quarter. Woodson Capital Management LP now owns 1,426,952 shares of the company’s stock worth $17,694,000 after buying an additional 626,952 shares in the last quarter. 67.93% of the stock is currently 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.