Despegar.com (NYSE:DESP) Sees Large Volume Increase – Time to Buy?

by · The Cerbat Gem

Despegar.com, Corp. (NYSE:DESP – Get Free Report) shares saw unusually-strong trading volume on Monday . Approximately 1,908,523 shares were traded during trading, an increase of 21% from the previous session’s volume of 1,579,719 shares.The stock last traded at $19.44 and had previously closed at $19.14.

Wall Street Analyst Weigh In

Separately, B. Riley cut shares of Despegar.com from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Despegar.com presently has an average rating of “Hold” and an average price target of $17.20.

View Our Latest Stock Analysis on DESP

Despegar.com Trading Up 1.5 %

The firm’s fifty day moving average is $19.13 and its 200-day moving average is $17.97.

Institutional Investors Weigh In On Despegar.com

Several hedge funds have recently modified their holdings of DESP. Franklin Resources Inc. acquired a new stake in Despegar.com in the third quarter valued at $395,000. Barclays PLC increased its position in Despegar.com by 298.5% in the 3rd quarter. Barclays PLC now owns 91,888 shares of the company’s stock valued at $1,139,000 after buying an additional 68,829 shares in the last quarter. Principal Financial Group Inc. acquired a new position in Despegar.com during the 3rd quarter worth approximately $591,000. SG Americas Securities LLC boosted its holdings in Despegar.com by 187.5% in the fourth quarter. SG Americas Securities LLC now owns 28,939 shares of the company’s stock worth $557,000 after acquiring an additional 18,872 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Despegar.com by 554.8% in the fourth quarter. Invesco Ltd. now owns 497,861 shares of the company’s stock valued at $9,584,000 after acquiring an additional 421,826 shares during the period. Institutional investors and hedge funds own 67.93% of the company’s stock.

About Despegar.com

(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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