BlackRock Inc. grew its stake in Travelport Worldwide Ltd (NYSE:TVPT) by 6.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,315,003 shares of the company’s stock after buying an additional 1,119,416 shares during the period. BlackRock Inc. owned 13.72% of Travelport Worldwide worth $321,019,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. GAM Holding AG grew its position in shares of Travelport Worldwide by 48.1% in the second quarter. GAM Holding AG now owns 65,507 shares of the company’s stock valued at $1,214,000 after purchasing an additional 21,268 shares during the period. Chartwell Investment Partners LLC acquired a new stake in shares of Travelport Worldwide in the second quarter valued at about $3,270,000. Argent Capital Management LLC acquired a new stake in shares of Travelport Worldwide in the second quarter valued at about $2,738,000. Stevens Capital Management LP grew its position in shares of Travelport Worldwide by 34.8% in the second quarter. Stevens Capital Management LP now owns 15,112 shares of the company’s stock valued at $280,000 after purchasing an additional 3,901 shares during the period. Finally, Spark Investment Management LLC acquired a new stake in shares of Travelport Worldwide in the second quarter valued at about $4,937,000. 93.30% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently issued reports on TVPT shares. Zacks Investment Research lowered shares of Travelport Worldwide from a “hold” rating to a “sell” rating in a research report on Thursday, August 9th. Bank of America lowered shares of Travelport Worldwide from a “neutral” rating to an “underperform” rating in a research report on Friday, August 3rd. Deutsche Bank lifted their target price on shares of Travelport Worldwide from $21.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, June 25th. Morgan Stanley lifted their target price on shares of Travelport Worldwide from $18.00 to $21.00 and gave the company an “equal weight” rating in a research report on Friday, August 3rd. Finally, Imperial Capital lifted their target price on shares of Travelport Worldwide from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, August 3rd. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $21.80.
In related news, insider Matthew Minetola sold 20,000 shares of the business’s stock in a transaction dated Monday, July 9th. The shares were sold at an average price of $20.02, for a total transaction of $400,400.00. Following the transaction, the insider now directly owns 53,402 shares in the company, valued at $1,069,108.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.32% of the company’s stock.
TVPT opened at $17.75 on Friday. The stock has a market cap of $2.22 billion, a P/E ratio of 18.88 and a beta of 0.24. Travelport Worldwide Ltd has a twelve month low of $12.10 and a twelve month high of $20.30. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of -16.95.
Travelport Worldwide (NYSE:TVPT) last posted its quarterly earnings results on Thursday, August 2nd. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.11. The firm had revenue of $662.01 million for the quarter, compared to analyst estimates of $638.77 million. Travelport Worldwide had a net margin of 4.61% and a negative return on equity of 36.75%. Travelport Worldwide’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 earnings per share. equities analysts predict that Travelport Worldwide Ltd will post 0.26 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 20th. Investors of record on Thursday, September 6th will be given a dividend of $0.075 per share. The ex-dividend date is Wednesday, September 5th. This represents a $0.30 dividend on an annualized basis and a yield of 1.69%. Travelport Worldwide’s payout ratio is presently 31.91%.
About Travelport Worldwide
Travelport Worldwide Limited, together with its subsidiaries, operates a travel commerce platform that offers distribution, technology, payment, and other solutions for the travel and tourism industry in the United States, the United Kingdom, and internationally. It facilitates travel commerce by connecting travel providers with online and offline travel buyers in a business-to-business travel platform.
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