1 day Ago By ABMN Staff
Despegar.com, Corp. ( NYSE:DESP – Get Free Report ) saw a large increase in short interest in the month of August.
As of August 31st, there was short interest totalling 6,950,000 shares, an increase of 10.7% from the August 15th total of 6,280,000 shares. Currently, 15.
6% of the company’s shares are short sold. Based on an average daily volume of 1,190,000 shares, the days-to-cover ratio is presently 5.8 days.
Institutional Inflows and Outflows Hedge funds and other institutional investors have recently made changes to their positions in the company. Amalgamated Bank acquired a new position in Despegar.com during the second quarter valued at $28,000.
Activest Wealth Management acquired a new position in shares of Despegar.com in the 1st quarter valued at about $39,000. Tucker Asset Management LLC purchased a new stake in shares of Despegar.
com in the fourth quarter worth approximately $40,000. LRI Investments LLC acquired a new stake in shares of Despegar.com during the second quarter worth approximately $87,000.
Finally, Hood River Capital Management LLC purchased a new position in Despegar.com during the first quarter valued at approximately $101,000. 67.
93% of the stock is currently owned by institutional investors and hedge funds. Despegar.com Price Performance NYSE:DESP remained flat at $12.
54 during midday trading on Wednesday. The company had a trading volume of 922,052 shares, compared to its average volume of 907,730. Despegar.
com has a 1 year low of $6.09 and a 1 year high of $15.82.
The company’s 50 day moving average price is $11.82 and its 200-day moving average price is $12.36.
Wall Street Analysts Forecast Growth Several research analysts have commented on the company. TD Cowen raised their price objective on Despegar.com from $9.
00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Cantor Fitzgerald reissued an “overweight” rating and set a $17.
00 price target on shares of Despegar.com in a research report on Friday, August 16th. Finally, Citigroup upped their price target on Despegar.
com from $14.50 to $15.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd.
View Our Latest Research Report on Despegar.com About Despegar.com ( Get Free Report ) 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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