Despegar.com, Corp. (NYSE:DESP) Short Interest Update

Despegar.com, Corp. (NYSE:DESP) was the recipient of a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 335,700 shares, a growth of 59.8% from the May 15th total of 210,100 shares. Based on an average daily volume of 1,070,000 shares, the short-interest ratio is currently 0.3 days. Currently, 0.6% of the company’s shares are short sold.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Citigroup reiterated a “neutral” rating and issued a $14.50 price objective (up previously from $11.50) on shares of Despegar.com in a report on Monday, April 29th. B. Riley increased their price target on shares of Despegar.com from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Finally, Cantor Fitzgerald raised their price objective on shares of Despegar.com from $14.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, May 17th.

Despegar.com Stock Down 6.3 %

Shares of NYSE:DESP traded down $0.90 during trading on Friday, hitting $13.46. 1,623,023 shares of the company were exchanged, compared to its average volume of 768,211. The firm’s 50 day moving average price is $13.33 and its 200-day moving average price is $10.82. Despegar.com has a 12-month low of $6.09 and a 12-month high of $15.82.

Despegar.com (NYSE:DESP) last announced its earnings results on Thursday, May 16th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.06. The firm had revenue of $173.66 million during the quarter, compared to analysts’ expectations of $172.23 million. Despegar.com had a negative return on equity of 44.06% and a net margin of 5.41%. On average, equities analysts predict that Despegar.com will post 0.76 EPS for the current fiscal year.

Institutional Trading of Despegar.com

Several institutional investors and hedge funds have recently bought and sold shares of DESP. Artisan Partners Limited Partnership increased its position in Despegar.com by 6.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,933,450 shares of the company’s stock valued at $18,290,000 after acquiring an additional 125,288 shares during the period. Sylebra Capital LLC increased its holdings in shares of Despegar.com by 236.2% in the first quarter. Sylebra Capital LLC now owns 1,694,451 shares of the company’s stock valued at $20,266,000 after purchasing an additional 1,190,463 shares during the period. Fourth Sail Capital LP purchased a new stake in shares of Despegar.com during the fourth quarter worth approximately $12,954,000. Norges Bank acquired a new stake in shares of Despegar.com during the fourth quarter worth $6,622,000. Finally, Loomis Sayles & Co. L P lifted its holdings in shares of Despegar.com by 139.3% during the third quarter. Loomis Sayles & Co. L P now owns 673,966 shares of the company’s stock worth $4,886,000 after purchasing an additional 392,366 shares during the period. Hedge funds and other institutional investors own 67.93% of the company’s stock.

About Despegar.com

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.