Despegar.com Target of Unusually High Options Trading (NYSE:DESP)

Despegar.com, Corp. (NYSE:DESP) saw unusually large options trading on Monday. Investors acquired 5,699 call options on the stock. This is an increase of 1,260% compared to the typical daily volume of 419 call options.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on DESP shares. Morgan Stanley lifted their target price on shares of Despegar.com from $17.00 to $21.00 and gave the company an “overweight” rating in a report on Friday, November 29th. TD Cowen raised shares of Despegar.com from a “sell” rating to a “hold” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.20.

Despegar.com Trading Down 0.1 %

Shares of NYSE:DESP opened at $19.45 on Wednesday. The business’s 50 day moving average price is $15.98 and its 200-day moving average price is $13.67. Despegar.com has a 1 year low of $8.06 and a 1 year high of $19.55.

Hedge Funds Weigh In On Despegar.com

A number of large investors have recently added to or reduced their stakes in the stock. Quarry LP boosted its stake in shares of Despegar.com by 107.1% in the third quarter. Quarry LP now owns 2,769 shares of the company’s stock worth $34,000 after acquiring an additional 1,432 shares during the last quarter. Amalgamated Bank purchased a new position in Despegar.com in the 2nd quarter valued at $28,000. O Brien Greene & Co. Inc boosted its stake in Despegar.com by 4.1% during 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 during the last quarter. SkyView Investment Advisors LLC grew its holdings 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 worth $3,068,000 after buying an additional 4,118 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Despegar.com in the 3rd quarter valued at about $56,000. 67.93% of the stock is currently owned by institutional investors and hedge funds.

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.