Travelport Worldwide (TVPT) Upgraded at Zacks Investment Research
Travelport Worldwide (NYSE:TVPT) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Saturday.
According to Zacks, “Travelport Worldwide Limited is a Travel Commerce Platform providing distribution, technology, payment and other solutions for the global travel and tourism industry. Its Travel Commerce Platform enables travel providers, travel agencies, corporations and developers to connect. Through its Technology Services it provides critical IT solutions to airlines, such as shopping, ticketing and departure control applications. The Company also provides an array of additional services, such as advertising solutions, subscription services, business intelligence data services, and marketing-oriented analytical tools to travel providers, travel agencies and other travel data users. Travelport Worldwide Limited is based in Atlanta, Georgia. “
Several other brokerages also recently weighed in on TVPT. Cowen set a $19.00 price target on Travelport Worldwide and gave the stock a “buy” rating in a report on Wednesday, November 1st. BidaskClub downgraded Travelport Worldwide from a “buy” rating to a “hold” rating in a report on Friday, October 6th. ValuEngine downgraded Travelport Worldwide from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Finally, Evercore ISI downgraded Travelport Worldwide from an “outperform” rating to an “underperform” rating in a report on Friday. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $15.88.
Travelport Worldwide (NYSE:TVPT) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.08. The business had revenue of $610.84 million during the quarter, compared to the consensus estimate of $611.03 million. Travelport Worldwide had a negative return on equity of 42.32% and a net margin of 3.72%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the company earned $0.33 earnings per share. equities analysts expect that Travelport Worldwide will post 0.77 EPS for the current year.
In related news, insider Matthew Minetola sold 12,000 shares of Travelport Worldwide stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $12.86, for a total transaction of $154,320.00. Following the completion of the sale, the insider now owns 33,402 shares of the company’s stock, valued at $429,549.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Antonios Basoukeas sold 15,000 shares of Travelport Worldwide stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $14.50, for a total value of $217,500.00. The disclosure for this sale can be found here. 1.19% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System lifted its holdings in shares of Travelport Worldwide by 152.7% during the third quarter. State Board of Administration of Florida Retirement System now owns 137,579 shares of the company’s stock worth $2,160,000 after purchasing an additional 83,127 shares during the period. Koch Industries Inc. acquired a new stake in shares of Travelport Worldwide during the second quarter worth about $548,000. ETRADE Capital Management LLC lifted its holdings in shares of Travelport Worldwide by 3.9% during the second quarter. ETRADE Capital Management LLC now owns 21,592 shares of the company’s stock worth $297,000 after purchasing an additional 811 shares during the period. Tudor Investment Corp ET AL lifted its holdings in shares of Travelport Worldwide by 78.0% during the second quarter. Tudor Investment Corp ET AL now owns 67,622 shares of the company’s stock worth $930,000 after purchasing an additional 29,622 shares during the period. Finally, BlackRock Inc. lifted its holdings in shares of Travelport Worldwide by 7.6% during the second quarter. BlackRock Inc. now owns 8,540,762 shares of the company’s stock worth $117,521,000 after purchasing an additional 601,076 shares during the period. 92.25% of the stock is owned by hedge funds and other institutional investors.
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Travelport Worldwide Company Profile
Travelport Worldwide Limited provides a travel commerce platform, which offers distribution, technology, payment, mobile and other solutions for the travel and tourism industry. The Company connects travel providers, such as airlines and hotel chains with online and offline travel agencies and other travel buyers in its business-to-business (B2B) travel commerce platform (its Travel Commerce Platform).
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