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

Despegar.com, Corp. (NYSE:DESP) saw an uptick in trading volume on Thursday . 405,245 shares traded hands during trading, a decline of 54% from the previous session’s volume of 880,826 shares.The stock last traded at $13.74 and had previously closed at $13.20.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DESP. Cantor Fitzgerald restated an “overweight” rating and set a $17.00 target price on shares of Despegar.com in a report on Friday, August 16th. Citigroup boosted their price objective on shares of Despegar.com from $14.50 to $15.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Finally, TD Cowen raised their target price on shares of Despegar.com from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th.

Despegar.com Price Performance

The stock has a 50 day moving average price of $12.23 and a 200 day moving average price of $12.68.

Despegar.com (NYSE:DESP) last posted its quarterly earnings data on Thursday, August 15th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. Despegar.com had a negative return on equity of 62.18% and a net margin of 3.30%. The business had revenue of $185.05 million during the quarter, compared to the consensus estimate of $184.35 million. As a group, analysts expect that Despegar.com, Corp. will post 0.75 earnings per share for the current year.

Institutional Investors Weigh In On Despegar.com

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hsbc Holdings PLC bought a new stake in shares of Despegar.com in the 2nd quarter worth approximately $1,102,000. Quadrature Capital Ltd raised its stake in Despegar.com by 108.5% during the first quarter. Quadrature Capital Ltd now owns 185,891 shares of the company’s stock valued at $2,220,000 after buying an additional 96,739 shares during the last quarter. Yarra Square Partners LP bought a new stake in Despegar.com in the first quarter worth $4,605,000. Tidal Investments LLC purchased a new stake in shares of Despegar.com in the first quarter worth $4,534,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Despegar.com in the first quarter worth $3,138,000. 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.