Despegar.com, Corp. (NYSE:DESP) was the target of a significant drop in short interest in April. As of April 15th, there was short interest totalling 1,150,000 shares, a drop of 26.3% from the March 31st total of 1,560,000 shares. Approximately 2.0% of the company’s stock are short sold. Based on an average daily volume of 514,200 shares, the short-interest ratio is presently 2.2 days.
A number of equities analysts recently commented on DESP shares. KeyCorp upgraded Despegar.com from a “sector weight” rating to an “overweight” rating and set a $23.00 price target for the company in a research note on Monday, March 22nd. Morgan Stanley lifted their price target on Despegar.com from $8.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Monday, January 11th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reissued a “neutral” rating and issued a $13.00 target price (up previously from $11.00) on shares of Despegar.com in a report on Wednesday, January 13th. Smith Barney Citigroup cut shares of Despegar.com from a “buy” rating to a “neutral” rating in a report on Wednesday, January 13th. Finally, Zacks Investment Research cut shares of Despegar.com from a “hold” rating to a “sell” rating in a report on Thursday, March 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $13.30.
NYSE:DESP traded down $0.59 during midday trading on Tuesday, hitting $12.77. 268,849 shares of the stock were exchanged, compared to its average volume of 448,977. Despegar.com has a one year low of $4.66 and a one year high of $17.66. The company has a market capitalization of $889.40 million, a price-to-earnings ratio of -7.60 and a beta of 2.54. The business has a 50-day moving average price of $14.05 and a two-hundred day moving average price of $11.84.
Institutional investors have recently bought and sold shares of the business. Crestone Asset Management LLC acquired a new position in Despegar.com in the first quarter worth approximately $143,000. SkyView Investment Advisors LLC acquired a new position in Despegar.com in the fourth quarter worth approximately $174,000. HighTower Advisors LLC grew its position in Despegar.com by 38.7% during the 4th quarter. HighTower Advisors LLC now owns 14,818 shares of the company’s stock worth $190,000 after purchasing an additional 4,131 shares in the last quarter. Tuttle Tactical Management purchased a new position in Despegar.com during the 1st quarter worth approximately $267,000. Finally, Dumac Inc. purchased a new position in Despegar.com during the 4th quarter worth approximately $268,000. Hedge funds and other institutional investors own 51.07% of the company’s stock.
Despegar.com Company Profile
Despegar.com, Corp., online travel company, provides a range of travel and travel-related products through its websites and mobile applications in Latin America. The company operates through two segments, Air; and Packages, Hotels and Other Travel Products. It offers airline tickets, packages, hotels, and other travel-related products, which enable consumers to find, compare, plan, and purchase travel products through its marketplace under the Despegar and Decolar brands.
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