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

Despegar.com, Corp. (NYSE:DESP) saw unusually large options trading activity on Monday. Traders bought 5,699 call options on the company. This represents an increase of 1,260% compared to the typical volume of 419 call options.

Institutional Trading of Despegar.com

A number of institutional investors have recently modified their holdings of the stock. Amalgamated Bank bought a new position in Despegar.com in the second quarter valued at approximately $28,000. Quarry LP increased its stake in shares of Despegar.com by 107.1% in the 3rd quarter. Quarry LP now owns 2,769 shares of the company’s stock valued at $34,000 after purchasing an additional 1,432 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Despegar.com in the third quarter worth about $56,000. Sanctuary Advisors LLC bought a new position in Despegar.com in the 2nd quarter valued at approximately $128,000. Finally, MQS Management LLC bought a new stake in shares of Despegar.com during the second quarter worth $136,000. 67.93% of the stock is currently owned by institutional investors.

Despegar.com Trading Up 32.8 %

Shares of DESP stock opened at $19.46 on Tuesday. The stock has a 50 day simple moving average of $15.98 and a 200 day simple moving average of $13.67. Despegar.com has a 1 year low of $8.06 and a 1 year high of $19.51.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Morgan Stanley raised their price objective on Despegar.com from $17.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. TD Cowen cut Despegar.com from a “buy” rating to a “sell” rating and boosted their price objective for the stock from $12.00 to $14.00 in a report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $17.20.

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.