Despegar.com (NYSE:DESP) Sees Unusually-High Trading Volume – Still a Buy?

Despegar.com, Corp. (NYSE:DESP) shares saw an uptick in trading volume on Thursday . 1,068,237 shares traded 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.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. TD Cowen raised shares of Despegar.com from a “sell” rating to a “hold” rating in a research note 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 research report on Friday, November 29th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.20.

Despegar.com Price Performance

The business’s 50-day simple moving average is $16.89 and its 200-day simple moving average is $14.00.

Institutional Trading of Despegar.com

Several hedge funds and other institutional investors have recently modified their holdings of the company. Sylebra Capital LLC raised its position in Despegar.com by 72.5% during the second quarter. Sylebra Capital LLC now owns 2,923,275 shares of the company’s stock valued at $38,675,000 after acquiring an additional 1,228,824 shares in the last quarter. Itau Unibanco Holding S.A. raised its holdings in shares of Despegar.com by 107.0% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 2,072,713 shares of the company’s stock valued at $26,446,000 after purchasing an additional 1,071,213 shares in the last quarter. Coronation Fund Managers Ltd. acquired a new stake in shares of Despegar.com in the 2nd quarter valued at $13,936,000. MayTech Global Investments LLC bought a new stake in Despegar.com in the second quarter worth $11,836,000. Finally, TT International Asset Management LTD acquired a new position in Despegar.com during the third quarter worth $8,763,000. 67.93% of the stock is currently owned by hedge funds and other institutional investors.

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.