Travelport Worldwide (TVPT) Shares Gap Down to $16.05

Travelport Worldwide Ltd (NYSE:TVPT) gapped down prior to trading on Thursday . The stock had previously closed at $16.45, but opened at $16.05. Travelport Worldwide shares last traded at $15.66, with a volume of 6144861 shares.

Several research analysts recently issued reports on TVPT shares. Imperial Capital reissued an “outperform” rating and issued a $20.00 price objective (down previously from $25.00) on shares of Travelport Worldwide in a research note on Friday, November 2nd. Morgan Stanley set a $16.00 price objective on Travelport Worldwide and gave the stock a “hold” rating in a research note on Friday, November 2nd. ValuEngine cut Travelport Worldwide from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Finally, Zacks Investment Research cut Travelport Worldwide from a “buy” rating to a “hold” rating in a research note on Thursday, November 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Travelport Worldwide has an average rating of “Hold” and a consensus target price of $18.95.

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The company has a market capitalization of $1.98 billion, a PE ratio of 16.68 and a beta of 0.28.

Travelport Worldwide (NYSE:TVPT) last announced its quarterly earnings data on Thursday, November 1st. The company reported $0.31 earnings per share (EPS) for the quarter, topping the 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 analysts’ expectations of $634.46 million. During the same quarter in the prior year, the firm earned $0.18 earnings per share. Travelport Worldwide’s revenue was up 1.9% compared to the same quarter last year. As a group, research analysts expect that Travelport Worldwide Ltd will post 0.52 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Howe & Rusling Inc. boosted its position in Travelport Worldwide by 141.6% during the 3rd quarter. Howe & Rusling Inc. now owns 10,797 shares of the company’s stock valued at $182,000 after acquiring an additional 6,328 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in shares of Travelport Worldwide during the 4th quarter valued at $187,000. Jane Street Group LLC purchased a new stake in shares of Travelport Worldwide during the 3rd quarter valued at $238,000. Hartford Investment Management Co. purchased a new stake in shares of Travelport Worldwide during the 3rd quarter valued at $250,000. Finally, Jefferies Group LLC purchased a new stake in shares of Travelport Worldwide during the 3rd quarter valued at $270,000. 93.91% of the stock is currently owned by institutional investors and hedge funds.

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Travelport Worldwide Company Profile (NYSE:TVPT)

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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