Short Interest in Despegar.com, Corp. (NYSE:DESP) Grows By 6.8%

Despegar.com, Corp. (NYSE:DESP) saw a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 6,420,000 shares, an increase of 6.8% from the October 31st total of 6,010,000 shares. Approximately 13.6% of the shares of the company are short sold. Based on an average daily volume of 979,200 shares, the days-to-cover ratio is currently 6.6 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. purchased a new stake in shares of Despegar.com in the 3rd quarter worth $395,000. Blankinship & Foster LLC acquired a new position in Despegar.com in the third quarter valued at about $288,000. SkyView Investment Advisors LLC raised its position in Despegar.com by 1.7% in the 3rd quarter. SkyView Investment Advisors LLC now owns 247,453 shares of the company’s stock valued at $3,068,000 after purchasing an additional 4,118 shares in the last quarter. Barclays PLC grew its holdings in shares of Despegar.com by 298.5% during the third quarter. Barclays PLC now owns 91,888 shares of the company’s stock worth $1,139,000 after purchasing an additional 68,829 shares during the last quarter. Finally, TT International Asset Management LTD acquired a new position in Despegar.com in the 3rd quarter valued at $8,763,000. 67.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Morgan Stanley increased their target price on shares of Despegar.com from $17.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $17.00 target price on shares of Despegar.com in a research report on Friday, August 16th. Finally, TD Cowen lowered Despegar.com from a “buy” rating to a “sell” rating and lifted their target price for the stock from $12.00 to $14.00 in a research report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $17.20.

Despegar.com Trading Down 0.9 %

Despegar.com stock opened at $17.73 on Tuesday. Despegar.com has a 12 month low of $8.02 and a 12 month high of $19.00. The business’s 50 day simple moving average is $14.81 and its 200 day simple moving average is $13.48.

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.