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

Despegar.com, Corp. (NYSE:DESP) was the target of a large growth in short interest during the month of August. As of August 15th, there was short interest totalling 6,280,000 shares, a growth of 7.5% from the July 31st total of 5,840,000 shares. Currently, 14.1% of the company’s shares are short sold. Based on an average daily trading volume, of 1,230,000 shares, the short-interest ratio is presently 5.1 days.

Analyst Upgrades and Downgrades

DESP has been the subject of a number of recent analyst reports. B. Riley raised their price objective on Despegar.com from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Cantor Fitzgerald restated an “overweight” rating and set a $17.00 price target on shares of Despegar.com in a report on Friday, August 16th. TD Cowen raised their price objective on shares of Despegar.com from $9.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Finally, Citigroup raised their target price on Despegar.com from $14.50 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Quadrature Capital Ltd raised its stake in shares of Despegar.com by 108.5% during the first quarter. Quadrature Capital Ltd now owns 185,891 shares of the company’s stock worth $2,220,000 after purchasing an additional 96,739 shares during the last quarter. Yarra Square Partners LP purchased a new position in Despegar.com in the 1st quarter valued at approximately $4,605,000. Tidal Investments LLC acquired a new position in Despegar.com during the first quarter worth $4,534,000. TimesSquare Capital Management LLC boosted its position in Despegar.com by 27.5% during the fourth quarter. TimesSquare Capital Management LLC now owns 396,400 shares of the company’s stock worth $3,750,000 after purchasing an additional 85,600 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Despegar.com in the first quarter valued at $3,138,000. 67.93% of the stock is currently owned by institutional investors and hedge funds.

Despegar.com Price Performance

DESP stock opened at $12.29 on Tuesday. The business has a 50 day simple moving average of $12.02 and a 200-day simple moving average of $12.09. Despegar.com has a twelve month low of $6.09 and a twelve month high of $15.82.

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.