Despegar.com (NYSE:DESP) Sees Large Volume Increase – Still a Buy?

Shares of Despegar.com, Corp. (NYSE:DESP) saw unusually-strong trading volume on Wednesday . Approximately 3,258,071 shares traded hands during trading, an increase of 139% from the previous session’s volume of 1,365,232 shares.The stock last traded at $19.20 and had previously closed at $19.22.

Analyst Ratings Changes

A number of research analysts have recently weighed in on DESP shares. TD Cowen upgraded Despegar.com from a “sell” rating to a “hold” rating in a research report on Tuesday, December 24th. B. Riley downgraded Despegar.com from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Finally, Morgan Stanley boosted their price target on shares of Despegar.com from $17.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, November 29th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $17.20.

Despegar.com Price Performance

The stock’s 50-day moving average is $19.22 and its two-hundred day moving average is $16.62.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. purchased a new stake in Despegar.com during the third quarter worth $591,000. MayTech Global Investments LLC raised its holdings in Despegar.com by 23.1% in the third quarter. MayTech Global Investments LLC now owns 1,101,684 shares of the company’s stock worth $13,661,000 after purchasing an additional 207,023 shares in the last quarter. Franklin Resources Inc. acquired a new stake in Despegar.com in the third quarter valued at approximately $395,000. Barclays PLC increased its position in Despegar.com by 298.5% during the 3rd quarter. Barclays PLC now owns 91,888 shares of the company’s stock valued at $1,139,000 after buying an additional 68,829 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Despegar.com by 76.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 256,726 shares of the company’s stock valued at $3,183,000 after buying an additional 111,233 shares during the last quarter. 67.93% of the stock is currently owned by institutional investors.

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.