Despegar.com (NYSE:DESP) Sees Unusually-High Trading Volume – Here’s Why

Shares of Despegar.com, Corp. (NYSE:DESP) saw unusually-high trading volume on Thursday . Approximately 1,068,237 shares changed hands during mid-day trading, an increase of 6% from the previous session’s volume of 1,009,285 shares.The stock last traded at $19.15 and had previously closed at $19.25.

Wall Street Analysts Forecast Growth

Several brokerages have commented on DESP. Morgan Stanley raised their price target on shares of Despegar.com from $17.00 to $21.00 and gave the company 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 note on Tuesday, December 24th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.20.

Despegar.com Stock Up 0.3 %

The business’s 50 day moving average price is $16.89 and its two-hundred day moving average price is $14.00.

Institutional Trading of Despegar.com

Hedge funds and other institutional investors have recently modified their holdings of the company. Amalgamated Bank acquired a new position in Despegar.com during the second quarter worth about $28,000. Quarry LP grew its stake 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 purchasing an additional 1,432 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Despegar.com in the 3rd quarter worth approximately $56,000. Sanctuary Advisors LLC acquired a new stake in Despegar.com during the second quarter valued at approximately $128,000. Finally, MQS Management LLC acquired a new stake in Despegar.com during the second quarter valued at approximately $136,000. Institutional investors own 67.93% of the company’s stock.

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.