Short Interest in Despegar.com, Corp. (NYSE:DESP) Grows By 59.8%

Despegar.com, Corp. (NYSE:DESPGet Free Report) was the target of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 335,700 shares, an increase 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. Approximately 0.6% of the shares of the company are short sold.

Institutional Investors Weigh In On Despegar.com

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DESP. Activest Wealth Management bought a new stake in Despegar.com in the first quarter worth about $39,000. Tucker Asset Management LLC bought a new stake in shares of Despegar.com in the 4th quarter worth approximately $40,000. Tower Research Capital LLC TRC lifted its stake in Despegar.com by 83.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,617 shares of the company’s stock valued at $44,000 after purchasing an additional 2,104 shares during the last quarter. Quantbot Technologies LP bought a new stake in Despegar.com during the third quarter worth approximately $74,000. Finally, Counterpoint Mutual Funds LLC acquired a new position in Despegar.com in the fourth quarter worth approximately $99,000. Institutional investors own 67.93% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DESP. B. Riley boosted their price target on shares of Despegar.com from $16.00 to $19.00 and gave the company a “buy” rating in a report on Friday, May 17th. Cantor Fitzgerald boosted their target price 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. Finally, Citigroup restated a “neutral” rating and issued a $14.50 price target (up previously from $11.50) on shares of Despegar.com in a research note on Monday, April 29th.

Get Our Latest Analysis on DESP

Despegar.com Price Performance

Shares of DESP traded down $0.90 during trading hours on Friday, reaching $13.46. 1,623,023 shares of the company’s stock traded hands, compared to its average volume of 768,211. The business’s fifty day simple moving average is $13.33 and its two-hundred day simple moving average is $10.82. Despegar.com has a twelve month low of $6.09 and a twelve month high of $15.82.

Despegar.com (NYSE:DESPGet Free Report) last released its earnings results on Thursday, May 16th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.12 by $0.06. Despegar.com had a net margin of 5.41% and a negative return on equity of 44.06%. The firm had revenue of $173.66 million for the quarter, compared to analysts’ expectations of $172.23 million. Equities analysts anticipate that Despegar.com will post 0.76 EPS for the current year.

Despegar.com Company Profile

(Get Free Report)

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.

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