Travelport Worldwide (TVPT) Rating Lowered to Hold at Zacks Investment Research

Travelport Worldwide (NYSE:TVPT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.

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. “

Other research analysts have also issued reports about the company. Cowen set a $23.00 target price on Travelport Worldwide and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Morgan Stanley raised their target price on Travelport Worldwide from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Friday, August 3rd. ValuEngine lowered Travelport Worldwide from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Imperial Capital reaffirmed an “outperform” rating and set a $20.00 target price (down from $25.00) on shares of Travelport Worldwide in a research report on Friday, November 2nd. Finally, Bank of America lowered Travelport Worldwide from a “neutral” rating to an “underperform” rating in a research report on Friday, August 3rd. Three analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $19.80.

NYSE TVPT opened at $15.29 on Thursday. Travelport Worldwide has a twelve month low of $12.10 and a twelve month high of $20.30. The firm has a market cap of $1.97 billion, a P/E ratio of 16.27 and a beta of 0.42.

Travelport Worldwide (NYSE:TVPT) last released its quarterly earnings data on Thursday, November 1st. The company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.43. Travelport Worldwide had a negative return on equity of 43.41% and a net margin of 4.60%. The company had revenue of $622.60 million for the quarter, compared to the consensus estimate of $634.46 million. During the same quarter last year, the business posted $0.18 EPS. Travelport Worldwide’s revenue for the quarter was up 1.9% on a year-over-year basis. Research analysts forecast that Travelport Worldwide will post 0.47 earnings per share for the current year.

In related news, insider Matthew Minetola sold 2,508 shares of the firm’s stock in a transaction on Tuesday, October 16th. The stock was sold at an average price of $15.50, for a total transaction of $38,874.00. Following the completion of the transaction, the insider now directly owns 37,004 shares of the company’s stock, valued at approximately $573,562. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.32% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the stock. Affinity Investment Advisors LLC raised its position in shares of Travelport Worldwide by 22.8% in the 3rd quarter. Affinity Investment Advisors LLC now owns 38,937 shares of the company’s stock worth $657,000 after acquiring an additional 7,238 shares in the last quarter. BlackRock Inc. raised its position in shares of Travelport Worldwide by 3.9% in the 3rd quarter. BlackRock Inc. now owns 17,981,946 shares of the company’s stock worth $303,355,000 after acquiring an additional 666,943 shares in the last quarter. Martingale Asset Management L P raised its position in shares of Travelport Worldwide by 1.5% in the 3rd quarter. Martingale Asset Management L P now owns 457,275 shares of the company’s stock worth $7,715,000 after acquiring an additional 6,602 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Travelport Worldwide by 4.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,448,564 shares of the company’s stock worth $24,437,000 after acquiring an additional 58,192 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Travelport Worldwide by 13.0% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,129 shares of the company’s stock worth $508,000 after acquiring an additional 3,469 shares in the last quarter. 92.42% of the stock is owned by institutional investors and hedge funds.

Travelport Worldwide Company Profile

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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