Investors Purchase High Volume of Call Options on Despegar.com (NYSE:DESP)

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DESP. Sylebra Capital LLC lifted its position in shares of Despegar.com by 72.5% during 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 in the last quarter. Itau Unibanco Holding S.A. lifted its holdings in Despegar.com by 107.0% during the second quarter. Itau Unibanco Holding S.A. now owns 2,072,713 shares of the company’s stock worth $26,446,000 after acquiring an additional 1,071,213 shares during the period. Coronation Fund Managers Ltd. purchased a new position in Despegar.com in the second quarter worth $13,936,000. MayTech Global Investments LLC bought a new position in Despegar.com in the 2nd quarter valued at $11,836,000. Finally, TT International Asset Management LTD purchased a new stake in shares of Despegar.com during the 3rd quarter valued at $8,763,000. 67.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. TD Cowen downgraded shares of Despegar.com from a “buy” rating to a “sell” rating and lifted their price target for the company from $12.00 to $14.00 in a research report on Monday, November 25th. Morgan Stanley lifted their price objective 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. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Despegar.com currently has an average rating of “Hold” and a consensus price target of $17.20.

Despegar.com Stock Up 32.8 %

DESP opened at $19.46 on Tuesday. Despegar.com has a 1 year low of $8.06 and a 1 year high of $19.51. The firm’s fifty day moving average price is $15.98 and its two-hundred day moving average price is $13.67.

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.