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

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

TVPT has been the topic of a number of other research reports. Imperial Capital reissued an “outperform” rating and set a $20.00 price target (down previously from $25.00) on shares of Travelport Worldwide in a research report on Friday, November 2nd. Cowen set a $23.00 price target on Travelport Worldwide and gave the stock a “buy” rating in a research report on Thursday, August 2nd. ValuEngine downgraded Travelport Worldwide from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Morgan Stanley increased their price target 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. Finally, Bank of America downgraded Travelport Worldwide from a “neutral” rating to an “underperform” rating in a research report on Friday, August 3rd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $19.80.

Shares of NYSE TVPT opened at $15.29 on Thursday. The company has a market cap of $1.97 billion, a PE ratio of 16.27 and a beta of 0.42. Travelport Worldwide has a 1-year low of $12.10 and a 1-year high of $20.30.

Travelport Worldwide (NYSE:TVPT) last announced its earnings results on Thursday, November 1st. The company reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.43. The company had revenue of $622.60 million for the quarter, compared to analyst estimates of $634.46 million. Travelport Worldwide had a negative return on equity of 43.41% and a net margin of 4.60%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 earnings per share. On average, research analysts expect that Travelport Worldwide will post 0.47 EPS for the current year.

In related news, insider Matthew Minetola sold 2,508 shares of the stock in a transaction that occurred 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 sale, the insider now owns 37,004 shares of the company’s stock, valued at $573,562. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.32% of the company’s stock.

Several hedge funds have recently modified their holdings of the business. Affinity Investment Advisors LLC boosted its holdings 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 valued at $657,000 after purchasing an additional 7,238 shares in the last quarter. BlackRock Inc. boosted its holdings 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 valued at $303,355,000 after purchasing an additional 666,943 shares in the last quarter. Martingale Asset Management L P boosted its holdings 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 valued at $7,715,000 after purchasing an additional 6,602 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings 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 valued at $24,437,000 after purchasing an additional 58,192 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings 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 valued at $508,000 after purchasing an additional 3,469 shares in the last quarter. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

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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