OppenheimerFunds Inc. decreased its position in Travelport Worldwide Ltd (NYSE:TVPT) by 12.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 105,847 shares of the company’s stock after selling 15,514 shares during the period. OppenheimerFunds Inc. owned 0.08% of Travelport Worldwide worth $1,963,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec acquired a new position in Travelport Worldwide in the second quarter valued at about $3,105,000. Altshuler Shaham Ltd acquired a new position in Travelport Worldwide in the second quarter valued at about $2,058,000. Itau Unibanco Holding S.A. acquired a new position in Travelport Worldwide in the second quarter valued at about $129,000. Riverhead Capital Management LLC lifted its stake in Travelport Worldwide by 48.5% in the second quarter. Riverhead Capital Management LLC now owns 14,400 shares of the company’s stock valued at $267,000 after buying an additional 4,700 shares during the period. Finally, Meadow Creek Investment Management LLC lifted its stake in Travelport Worldwide by 48.6% in the second quarter. Meadow Creek Investment Management LLC now owns 12,650 shares of the company’s stock valued at $235,000 after buying an additional 4,136 shares during the period. Institutional investors and hedge funds own 92.16% of the company’s stock.
Several research firms have weighed in on TVPT. Deutsche Bank increased their target price on Travelport Worldwide from $21.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, June 25th. Cowen set a $23.00 target price on Travelport Worldwide and gave the company a “buy” rating in a research note on Thursday, August 2nd. Zacks Investment Research lowered Travelport Worldwide from a “hold” rating to a “sell” rating in a research note on Thursday, August 9th. Imperial Capital increased their target price on Travelport Worldwide from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, August 3rd. Finally, Morgan Stanley increased their target price on Travelport Worldwide from $18.00 to $21.00 and gave the company an “equal weight” rating in a research note on Friday, August 3rd. Four analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $21.80.
NYSE TVPT opened at $16.80 on Monday. The stock has a market cap of $2.12 billion, a PE ratio of 17.87 and a beta of 0.24. 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 Ltd has a one year low of $12.10 and a one year high of $20.30.
Travelport Worldwide (NYSE:TVPT) last released its quarterly earnings results on Thursday, August 2nd. The company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.11. The company had revenue of $662.01 million for the quarter, compared to analyst estimates of $638.77 million. Travelport Worldwide had a negative return on equity of 36.75% and a net margin of 4.61%. Travelport Worldwide’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.40 earnings per share. research analysts anticipate that Travelport Worldwide Ltd will post 0.26 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 20th. Stockholders of record on Thursday, September 6th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend was Wednesday, September 5th. Travelport Worldwide’s dividend payout ratio is currently 31.91%.
In other news, insider Matthew Minetola sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 9th. The stock was sold at an average price of $20.02, for a total transaction of $400,400.00. Following the sale, the insider now owns 53,402 shares of the company’s stock, valued at $1,069,108.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.32% of the company’s stock.
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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