Despegar.com (NYSE:DESP) Sees Unusually-High Trading Volume – Should You Buy?

Despegar.com, Corp. (NYSE:DESP) saw strong trading volume on Thursday . 1,068,237 shares changed hands during trading, an increase of 6% from the previous session’s volume of 1,009,285 shares.The stock last traded at $19.15 and had previously closed at $19.25.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DESP. TD Cowen raised shares of Despegar.com from a “sell” rating to a “hold” rating in a research note on Tuesday, December 24th. Morgan Stanley boosted their price objective on shares of Despegar.com from $17.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.20.

Despegar.com Trading Down 0.6 %

The stock has a 50 day moving average price of $16.72 and a two-hundred day moving average price of $13.92.

Institutional Investors Weigh In On Despegar.com

A number of large investors have recently made changes to their positions in the stock. Amalgamated Bank purchased a new stake in shares of Despegar.com in the 2nd quarter valued at $28,000. Quarry LP boosted its holdings in Despegar.com by 107.1% in the third quarter. Quarry LP now owns 2,769 shares of the company’s stock valued at $34,000 after purchasing an additional 1,432 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Despegar.com during the 3rd quarter worth about $56,000. Sanctuary Advisors LLC acquired a new position in shares of Despegar.com in the 2nd quarter valued at about $128,000. Finally, MQS Management LLC purchased a new stake in shares of Despegar.com in the second quarter worth about $136,000. 67.93% of the stock is owned by hedge funds and other institutional investors.

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.