Despegar.com, Corp. (NYSE:DESP) Sees Large Decrease in Short Interest

Despegar.com, Corp. (NYSE:DESP) was the target of a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 5,780,000 shares, a drop of 10.0% from the November 15th total of 6,420,000 shares. Currently, 12.2% of the company’s shares are short sold. Based on an average daily trading volume, of 989,000 shares, the days-to-cover ratio is currently 5.8 days.

Despegar.com Trading Down 2.2 %

Shares of Despegar.com stock traded down $0.37 on Tuesday, hitting $16.54. 1,046,807 shares of the company’s stock were exchanged, compared to its average volume of 937,366. Despegar.com has a 1 year low of $8.06 and a 1 year high of $19.00. The company has a 50-day simple moving average of $15.66 and a 200-day simple moving average of $13.63.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Sylebra Capital LLC boosted its position in shares of Despegar.com by 72.5% during the second quarter. Sylebra Capital LLC now owns 2,923,275 shares of the company’s stock worth $38,675,000 after acquiring an additional 1,228,824 shares during the last quarter. Itau Unibanco Holding S.A. boosted its holdings in shares of Despegar.com by 1.3% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 2,099,156 shares of the company’s stock valued at $26,030,000 after purchasing an additional 26,443 shares during the last quarter. Woodson Capital Management LP grew its position in shares of Despegar.com by 78.4% during the third quarter. Woodson Capital Management LP now owns 1,426,952 shares of the company’s stock valued at $17,694,000 after purchasing an additional 626,952 shares in the last quarter. MayTech Global Investments LLC increased its holdings in shares of Despegar.com by 23.1% in the third quarter. MayTech Global Investments LLC now owns 1,101,684 shares of the company’s stock worth $13,661,000 after purchasing an additional 207,023 shares during the last quarter. Finally, Coronation Fund Managers Ltd. bought a new stake in shares of Despegar.com in the second quarter worth about $13,936,000. Hedge funds and other institutional investors own 67.93% of the company’s stock.

Analyst Upgrades and Downgrades

DESP has been the subject of several research reports. TD Cowen lowered Despegar.com from a “buy” rating to a “sell” rating and increased their target price for the stock from $12.00 to $14.00 in a research report on Monday, November 25th. Morgan Stanley increased their price objective on Despegar.com from $17.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $17.20.

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.