Despegar.com (NYSE:DESP) Sees Unusually-High Trading Volume - Still a Buy?

Despegar.com, Corp. (NYSE:DESP - Get Free Report) shares saw unusually-high trading volume on Monday . Approximately 1,908,523 shares traded hands during mid-day trading, an increase of 21% from the previous session's volume of 1,579,719 shares.The stock last traded at $19.44 and had previously closed at $19.14.

Analyst Upgrades and Downgrades

Separately, B. Riley downgraded Despegar.com from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $17.20.

Despegar.com Price Performance

The company's 50-day moving average price is $19.14 and its two-hundred day moving average price is $18.03.

Despegar.com (NYSE:DESP - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.61). Despegar.com had a net margin of 4.45% and a negative return on equity of 58.97%. The business had revenue of $210.30 million during the quarter, compared to analyst estimates of $212.40 million. Despegar.com's revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities research analysts forecast that Despegar.com, Corp. will post 0.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DESP. Sterling Capital Management LLC lifted its stake in shares of Despegar.com by 756.8% in the fourth quarter. Sterling Capital Management LLC now owns 1,705 shares of the company's stock worth $33,000 after buying an additional 1,506 shares during the last quarter. GAMMA Investing LLC lifted its position in Despegar.com by 1,779.4% during the 1st quarter. GAMMA Investing LLC now owns 1,917 shares of the company's stock worth $36,000 after buying an additional 1,815 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Despegar.com during the fourth quarter worth approximately $68,000. State of Wyoming increased its holdings in Despegar.com by 107.9% in the fourth quarter. State of Wyoming now owns 3,846 shares of the company's stock valued at $74,000 after purchasing an additional 1,996 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Despegar.com in the fourth quarter valued at approximately $104,000. Hedge funds and other institutional investors own 67.93% of the company's stock.

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.