Despegar.com, Corp. (NYSE:DESP) Short Interest Update

Despegar.com, Corp. (NYSE:DESP) was the target of a large drop in short interest in September. As of September 15th, there was short interest totalling 6,420,000 shares, a drop of 7.6% from the August 31st total of 6,950,000 shares. Based on an average daily trading volume, of 1,110,000 shares, the days-to-cover ratio is currently 5.8 days. Currently, 14.4% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of DESP. Sanctuary Advisors LLC purchased a new stake in shares of Despegar.com in the second quarter worth approximately $128,000. Coronation Fund Managers Ltd. bought a new position in Despegar.com in the 2nd quarter valued at $13,936,000. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Despegar.com during the second quarter worth $331,000. Sylebra Capital LLC boosted its stake in shares of Despegar.com by 72.5% during the second quarter. Sylebra Capital LLC now owns 2,923,275 shares of the company’s stock valued at $38,675,000 after purchasing an additional 1,228,824 shares during the period. Finally, SkyView Investment Advisors LLC grew its holdings in shares of Despegar.com by 4.6% in the second quarter. SkyView Investment Advisors LLC now owns 243,335 shares of the company’s stock worth $3,219,000 after purchasing an additional 10,756 shares during the last quarter. Hedge funds and other institutional investors own 67.93% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on DESP. Cantor Fitzgerald reissued an “overweight” rating and set a $17.00 price target on shares of Despegar.com in a research note on Friday, August 16th. Citigroup increased their target price on Despegar.com from $14.50 to $15.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Finally, TD Cowen boosted their price target on shares of Despegar.com from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th.

Despegar.com Stock Performance

NYSE:DESP traded down $0.07 during midday trading on Tuesday, hitting $12.33. 903,596 shares of the company traded hands, compared to its average volume of 897,477. The firm’s fifty day moving average is $11.66 and its 200-day moving average is $12.56. Despegar.com has a 12-month low of $6.09 and a 12-month high of $15.82.

Despegar.com (NYSE:DESP) last announced its earnings results on Thursday, August 15th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.12. The business had revenue of $185.05 million for the quarter, compared to the consensus estimate of $184.35 million. Despegar.com had a net margin of 3.30% and a negative return on equity of 62.18%. On average, sell-side analysts anticipate that Despegar.com will post 0.75 earnings per share for the current year.

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.