Despegar.com, Corp. (NYSE:DESP) Short Interest Update

Despegar.com, Corp. (NYSE:DESP) saw a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 2,020,000 shares, an increase of 179.6% from the June 15th total of 722,500 shares. Approximately 3.6% of the company’s shares are short sold. Based on an average daily volume of 1,220,000 shares, the days-to-cover ratio is currently 1.7 days.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on DESP shares. Citigroup reaffirmed a “neutral” rating and issued a $14.50 price target (up previously from $11.50) on shares of Despegar.com in a research note on Monday, April 29th. B. Riley upped their target price on shares of Despegar.com from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Finally, Cantor Fitzgerald increased their target price on Despegar.com from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, May 17th.

Institutional Trading of Despegar.com

A number of hedge funds have recently made changes to their positions in the company. Fourth Sail Capital LP acquired a new position in Despegar.com during the 4th quarter worth about $12,954,000. Sylebra Capital LLC increased its position in Despegar.com by 236.2% in the 1st quarter. Sylebra Capital LLC now owns 1,694,451 shares of the company’s stock valued at $20,266,000 after buying an additional 1,190,463 shares in the last quarter. Norges Bank purchased a new stake in shares of Despegar.com in the fourth quarter worth approximately $6,622,000. Woodson Capital Management LP bought a new position in shares of Despegar.com in the first quarter valued at approximately $5,980,000. Finally, Yarra Square Partners LP purchased a new position in shares of Despegar.com during the first quarter valued at approximately $4,605,000. 67.93% of the stock is owned by institutional investors and hedge funds.

Despegar.com Stock Up 0.2 %

NYSE DESP traded up $0.03 on Friday, hitting $13.58. 627,903 shares of the company’s stock were exchanged, compared to its average volume of 883,310. The stock has a 50-day moving average of $13.74 and a 200-day moving average of $11.43. Despegar.com has a 52 week low of $6.09 and a 52 week high of $15.82.

Despegar.com (NYSE:DESP) last announced its quarterly earnings results on Thursday, May 16th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.06. The company had revenue of $173.66 million for the quarter, compared to analyst estimates of $172.23 million. Despegar.com had a net margin of 5.41% and a negative return on equity of 44.06%. Equities analysts expect that Despegar.com will post 0.83 earnings per share for the current fiscal year.

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.