Despegar.com (NYSE:DESP) Sees Strong Trading Volume – Time to Buy?

Shares of Despegar.com, Corp. (NYSE:DESP) saw an uptick in trading volume on Thursday . 1,068,237 shares changed hands during mid-day 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.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DESP. Morgan Stanley raised their target price on shares of Despegar.com from $17.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. TD Cowen upgraded shares of Despegar.com from a “sell” rating to a “hold” rating in a report on Tuesday, December 24th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $17.20.

Despegar.com Price Performance

The stock’s 50-day moving average price is $16.72 and its two-hundred day moving average price is $13.92.

Institutional Investors Weigh In On Despegar.com

A number of large investors have recently added to or reduced their stakes in DESP. Quarry LP lifted its stake in shares of Despegar.com by 107.1% in the 3rd quarter. Quarry LP now owns 2,769 shares of the company’s stock worth $34,000 after purchasing an additional 1,432 shares during the period. Amalgamated Bank bought a new position in Despegar.com in the 2nd quarter worth approximately $28,000. O Brien Greene & Co. Inc lifted its stake in Despegar.com by 4.1% in the 3rd quarter. O Brien Greene & Co. Inc now owns 101,000 shares of the company’s stock worth $1,252,000 after purchasing an additional 4,000 shares in the last quarter. SkyView Investment Advisors LLC grew its position in shares of Despegar.com by 1.7% during the third 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. Finally, Point72 Asset Management L.P. bought a new stake in shares of Despegar.com in the third quarter worth about $56,000. Institutional investors own 67.93% of the company’s stock.

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.