Travelport Worldwide Limited (NYSE:TVPT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a 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. “
Other research analysts have also issued reports about the stock. BidaskClub lowered shares of Travelport Worldwide Limited from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 21st. ValuEngine upgraded shares of Travelport Worldwide Limited from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, Cowen and Company set a $16.00 price objective on shares of Travelport Worldwide Limited and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $15.38.
Shares of Travelport Worldwide Limited (NYSE TVPT) opened at 15.60 on Thursday. The firm has a market capitalization of $1.94 billion, a PE ratio of 18.66 and a beta of 0.61. Travelport Worldwide Limited has a 12-month low of $11.38 and a 12-month high of $15.93. The firm has a 50-day moving average of $15.18 and a 200-day moving average of $13.83.
Travelport Worldwide Limited (NYSE:TVPT) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.26. Travelport Worldwide Limited had a net margin of 4.42% and a negative return on equity of 50.52%. The business had revenue of $612.10 million during the quarter, compared to analyst estimates of $618.27 million. During the same period in the prior year, the business earned $0.28 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities analysts anticipate that Travelport Worldwide Limited will post $1.37 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of TVPT. BlackRock Inc. raised its holdings in Travelport Worldwide Limited by 52,255.3% in the 1st quarter. BlackRock Inc. now owns 7,939,686 shares of the company’s stock worth $93,451,000 after purchasing an additional 7,924,521 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Travelport Worldwide Limited by 190.0% in the 2nd quarter. Principal Financial Group Inc. now owns 7,737,069 shares of the company’s stock worth $106,462,000 after buying an additional 5,068,775 shares during the period. New South Capital Management Inc. grew its position in shares of Travelport Worldwide Limited by 159.9% in the 2nd quarter. New South Capital Management Inc. now owns 5,786,575 shares of the company’s stock worth $79,623,000 after buying an additional 3,560,151 shares during the period. Nomura Holdings Inc. purchased a new stake in shares of Travelport Worldwide Limited in the 1st quarter worth about $32,124,000. Finally, Crescent Park Management L.P. purchased a new stake in shares of Travelport Worldwide Limited in the 2nd quarter worth about $28,775,000. Institutional investors and hedge funds own 92.35% of the company’s stock.
About Travelport Worldwide Limited
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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