Travelport Worldwide (NYSE:TVPT) released its quarterly earnings results on Thursday. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.43, Briefing.com reports. The business had revenue of $622.60 million for the quarter, compared to analysts’ expectations of $634.46 million. Travelport Worldwide had a negative return on equity of 36.75% and a net margin of 4.61%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 EPS. Travelport Worldwide updated its FY18 guidance to $1.34-1.46 EPS.
Shares of TVPT traded up $0.28 on Friday, reaching $14.43. The stock had a trading volume of 63,783 shares, compared to its average volume of 1,172,332. The stock has a market cap of $1.87 billion, a P/E ratio of 15.34 and a beta of 0.25. Travelport Worldwide has a twelve month low of $12.10 and a twelve month high of $20.30.
TVPT has been the topic of a number of research reports. Cowen set a $23.00 price target on Travelport Worldwide and gave the stock a “buy” rating in a report on Thursday, August 2nd. Morgan Stanley upped their price target on Travelport Worldwide from $18.00 to $21.00 and gave the stock an “equal weight” rating in a report on Friday, August 3rd. ValuEngine cut Travelport Worldwide from a “buy” rating to a “hold” rating in a report on Thursday. Imperial Capital restated an “outperform” rating and issued a $20.00 price target (down previously from $25.00) on shares of Travelport Worldwide in a report on Friday. Finally, Zacks Investment Research cut Travelport Worldwide from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $19.80.
In related news, insider Matthew Minetola sold 2,508 shares of the company’s stock in a transaction that occurred on Tuesday, October 16th. The stock was sold at an average price of $15.50, for a total value of $38,874.00. Following the sale, the insider now owns 37,004 shares in the company, valued at approximately $573,562. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.32% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TVPT. Fort L.P. purchased a new stake in Travelport Worldwide in the 2nd quarter valued at approximately $122,000. Itau Unibanco Holding S.A. purchased a new stake in Travelport Worldwide in the 2nd quarter valued at approximately $129,000. Moneta Group Investment Advisors LLC purchased a new stake in Travelport Worldwide in the 2nd quarter valued at approximately $168,000. Flinton Capital Management LLC lifted its stake in Travelport Worldwide by 48.6% in the 2nd quarter. Flinton Capital Management LLC now owns 9,200 shares of the company’s stock valued at $171,000 after buying an additional 3,008 shares in the last quarter. Finally, Everence Capital Management Inc. purchased a new stake in Travelport Worldwide in the 2nd quarter valued at approximately $220,000. Institutional investors and hedge funds own 92.25% 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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