Despegar.com, Corp. (NYSE:DESP) Short Interest Up 115.2% in June

Despegar.com, Corp. (NYSE:DESP) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 722,500 shares, an increase of 115.2% from the May 31st total of 335,700 shares. Based on an average daily trading volume, of 1,120,000 shares, the days-to-cover ratio is currently 0.6 days. Approximately 1.3% of the shares of the company are short sold.

Hedge Funds Weigh In On Despegar.com

Large investors have recently made changes to their positions in the business. Activest Wealth Management purchased a new position in Despegar.com in the first quarter worth about $39,000. Tucker Asset Management LLC purchased a new position in Despegar.com in the 4th quarter worth approximately $40,000. Tower Research Capital LLC TRC lifted its position in Despegar.com by 83.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,617 shares of the company’s stock valued at $44,000 after acquiring an additional 2,104 shares in the last quarter. Hood River Capital Management LLC bought a new stake in shares of Despegar.com in the 1st quarter worth $101,000. Finally, Adalta Capital Management LLC purchased a new position in shares of Despegar.com in the first quarter worth $120,000. 67.93% of the stock is currently owned by hedge funds and other institutional investors.

Despegar.com Trading Up 0.5 %

NYSE:DESP opened at $13.23 on Friday. Despegar.com has a twelve month low of $6.09 and a twelve month high of $15.82. The firm’s fifty day simple moving average is $13.58 and its 200 day simple moving average is $11.18.

Despegar.com (NYSE:DESP) last posted its earnings results on Thursday, May 16th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.06. The firm had revenue of $173.66 million for the quarter, compared to the consensus estimate of $172.23 million. Despegar.com had a negative return on equity of 44.06% and a net margin of 5.41%. On average, analysts expect that Despegar.com will post 0.83 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on DESP. Citigroup restated a “neutral” rating and issued a $14.50 price objective (up from $11.50) on shares of Despegar.com in a research report on Monday, April 29th. Cantor Fitzgerald boosted their price objective on Despegar.com from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. Finally, B. Riley upped their price objective on shares of Despegar.com from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, May 17th.

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.