Despegar.com Target of Unusually High Options Trading (NYSE:DESP)

Despegar.com, Corp. (NYSE:DESP) saw some unusual options trading on Monday. Stock traders purchased 5,699 call options on the company. This represents an increase of 1,260% compared to the typical daily volume of 419 call options.

Hedge Funds Weigh In On Despegar.com

A number of large investors have recently modified their holdings of DESP. Hsbc Holdings PLC purchased a new position in shares of Despegar.com in the second quarter worth about $1,102,000. Principal Financial Group Inc. purchased a new position in shares of Despegar.com in the third quarter worth $591,000. MayTech Global Investments LLC raised its holdings in Despegar.com by 23.1% during the 3rd quarter. MayTech Global Investments LLC now owns 1,101,684 shares of the company’s stock valued at $13,661,000 after buying an additional 207,023 shares during the last quarter. Rhumbline Advisers purchased a new stake in Despegar.com during the 2nd quarter valued at $1,159,000. Finally, Yarra Square Partners LP grew its holdings in Despegar.com by 15.2% in the 2nd quarter. Yarra Square Partners LP now owns 443,400 shares of the company’s stock worth $5,866,000 after acquiring an additional 58,400 shares during the last quarter. 67.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Morgan Stanley upped their price target on Despegar.com from $17.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. TD Cowen lowered shares of Despegar.com from a “buy” rating to a “sell” rating and boosted their price target for the company from $12.00 to $14.00 in a research report on Monday, November 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Despegar.com presently has an average rating of “Hold” and an average target price of $17.20.

Despegar.com Trading Up 31.6 %

NYSE DESP traded up $4.63 during trading hours on Monday, reaching $19.28. 5,706,317 shares of the stock traded hands, compared to its average volume of 955,506. The stock has a 50 day simple moving average of $15.84 and a two-hundred day simple moving average of $13.64. Despegar.com has a 1 year low of $8.06 and a 1 year high of $19.45.

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.