Short Interest in Despegar.com, Corp. (NYSE:DESP) Drops By 10.0%

Despegar.com, Corp. (NYSE:DESP) saw a significant decline in short interest in November. As of November 30th, there was short interest totalling 5,780,000 shares, a decline of 10.0% from the November 15th total of 6,420,000 shares. Approximately 12.2% of the shares of the stock are short sold. Based on an average trading volume of 989,000 shares, the short-interest ratio is currently 5.8 days.

Hedge Funds Weigh In On Despegar.com

A number of large investors have recently bought and sold shares of DESP. Sylebra Capital LLC lifted its holdings in Despegar.com by 72.5% in the 2nd quarter. Sylebra Capital LLC now owns 2,923,275 shares of the company’s stock worth $38,675,000 after buying an additional 1,228,824 shares during the period. Itau Unibanco Holding S.A. lifted its stake in Despegar.com by 1.3% in the third quarter. Itau Unibanco Holding S.A. now owns 2,099,156 shares of the company’s stock worth $26,030,000 after acquiring an additional 26,443 shares during the period. Woodson Capital Management LP increased its position in Despegar.com by 78.4% during the 3rd quarter. Woodson Capital Management LP now owns 1,426,952 shares of the company’s stock valued at $17,694,000 after purchasing an additional 626,952 shares during the period. MayTech Global Investments LLC raised its holdings in Despegar.com by 23.1% in the 3rd 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. Finally, Coronation Fund Managers Ltd. purchased a new stake in shares of Despegar.com in the 2nd quarter worth about $13,936,000. 67.93% of the stock is owned by hedge funds and other institutional investors.

Despegar.com Price Performance

Shares of DESP stock traded down $0.37 on Tuesday, hitting $16.54. 1,046,807 shares of the company’s stock traded hands, compared to its average volume of 937,366. The company’s fifty day simple moving average is $15.66 and its 200 day simple moving average is $13.63. Despegar.com has a one year low of $8.06 and a one year high of $19.00.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DESP. TD Cowen cut Despegar.com from a “buy” rating to a “sell” rating and raised their price target for the company from $12.00 to $14.00 in a report on Monday, November 25th. 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 note on Friday, November 29th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $17.20.

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.