Despegar.com (NYSE:DESP) Sees Strong Trading Volume – What’s Next?

Despegar.com, Corp. (NYSE:DESP) saw strong trading volume on Tuesday . 777,306 shares were traded during mid-day 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.

Wall Street Analyst Weigh In

DESP has been the topic of several research analyst reports. Morgan Stanley lifted their price objective 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 shares of Despegar.com from a “sell” rating to a “hold” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.20.

Despegar.com Price Performance

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

Hedge Funds Weigh In On Despegar.com

Several hedge funds have recently bought and sold shares of the business. Amalgamated Bank bought a new stake in shares of Despegar.com during the 2nd quarter worth $28,000. Quarry LP grew its position in shares of Despegar.com by 107.1% in the third quarter. Quarry LP now owns 2,769 shares of the company’s stock valued at $34,000 after purchasing an additional 1,432 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Despegar.com in the third quarter worth about $56,000. Sanctuary Advisors LLC acquired a new position in shares of Despegar.com during the 2nd quarter worth about $128,000. Finally, MQS Management LLC bought a new stake in Despegar.com during the 2nd quarter valued at approximately $136,000. 67.93% of the stock is owned by institutional investors and hedge funds.

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.