Despegar.com, Corp. (NYSE:DESP - Get Free Report) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 6,180,000 shares, an increase of 31.2% from the March 15th total of 4,710,000 shares. Based on an average daily trading volume, of 2,460,000 shares, the days-to-cover ratio is presently 2.5 days. Approximately 9.6% of the company's shares are short sold.
Analyst Ratings Changes
Separately, B. Riley lowered Despegar.com from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $17.20.
Get Our Latest Research Report on Despegar.com
Hedge Funds Weigh In On Despegar.com
Several institutional investors and hedge funds have recently bought and sold shares of DESP. Sterling Capital Management LLC grew its holdings in Despegar.com by 756.8% in the 4th quarter. Sterling Capital Management LLC now owns 1,705 shares of the company's stock worth $33,000 after acquiring an additional 1,506 shares during the last quarter. GAMMA Investing LLC raised 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 valued at $36,000 after purchasing an additional 1,815 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Despegar.com in the 4th quarter worth approximately $68,000. State of Wyoming increased its stake in shares of Despegar.com by 107.9% during the fourth quarter. State of Wyoming now owns 3,846 shares of the company's stock valued at $74,000 after buying an additional 1,996 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Despegar.com during the fourth quarter valued at approximately $104,000. 67.93% of the stock is currently owned by institutional investors.
Despegar.com Stock Down 0.1 %
NYSE:DESP traded down $0.03 during midday trading on Thursday, hitting $19.14. The company had a trading volume of 623,711 shares, compared to its average volume of 2,433,940. Despegar.com has a 52-week low of $9.25 and a 52-week high of $19.55. The stock's fifty day moving average price is $19.14 and its 200-day moving average price is $17.82.
About Despegar.com
(
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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.
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