Despegar.com (NYSE:DESP) Sees Strong Trading Volume – Time to Buy?

Despegar.com, Corp. (NYSE:DESP) shares saw unusually-strong trading volume on Tuesday . Approximately 777,306 shares traded hands during trading, a decline of 22% from the previous session’s volume of 994,555 shares.The stock last traded at $19.39 and had previously closed at $19.46.

Analyst Ratings Changes

Several analysts have issued reports on DESP shares. Morgan Stanley raised their price target on shares of Despegar.com from $17.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, November 29th. TD Cowen raised Despegar.com from a “sell” rating to a “hold” rating in a report on Tuesday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Despegar.com currently has a consensus rating of “Moderate Buy” and an average price target of $17.20.

Despegar.com Price Performance

The company’s 50-day moving average is $15.98 and its 200-day moving average is $13.67.

Institutional Trading of Despegar.com

Institutional investors have recently bought and sold shares of the stock. Sylebra Capital LLC lifted its holdings in shares of 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 during the period. Itau Unibanco Holding S.A. grew its stake in Despegar.com by 107.0% during the second quarter. Itau Unibanco Holding S.A. now owns 2,072,713 shares of the company’s stock worth $26,446,000 after buying an additional 1,071,213 shares during the last quarter. Coronation Fund Managers Ltd. acquired a new stake in shares of Despegar.com during the second quarter worth approximately $13,936,000. MayTech Global Investments LLC bought a new position in shares of Despegar.com in the second quarter valued at approximately $11,836,000. Finally, TT International Asset Management LTD acquired a new position in shares of Despegar.com in the 3rd quarter worth approximately $8,763,000. Institutional investors and hedge funds 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.