Exane Asset Management Acquires New Holdings in Travelport Worldwide Ltd (TVPT)
Exane Asset Management acquired a new stake in Travelport Worldwide Ltd (NYSE:TVPT) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 189,400 shares of the company’s stock, valued at approximately $2,979,000. Travelport Worldwide comprises approximately 1.4% of Exane Asset Management’s investment portfolio, making the stock its 25th biggest position.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Water Island Capital LLC boosted its position in Travelport Worldwide by 93.8% during the first quarter. Water Island Capital LLC now owns 3,447,252 shares of the company’s stock valued at $54,225,000 after purchasing an additional 1,668,261 shares during the last quarter. Everence Capital Management Inc. lifted its position in shares of Travelport Worldwide by 55.9% in the first quarter. Everence Capital Management Inc. now owns 18,480 shares of the company’s stock valued at $291,000 after buying an additional 6,630 shares during the last quarter. IndexIQ Advisors LLC acquired a new stake in shares of Travelport Worldwide in the first quarter valued at approximately $20,134,000. Gamco Investors INC. ET AL lifted its position in shares of Travelport Worldwide by 29.9% in the first quarter. Gamco Investors INC. ET AL now owns 38,906 shares of the company’s stock valued at $612,000 after buying an additional 8,956 shares during the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in shares of Travelport Worldwide by 38.4% in the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 553,912 shares of the company’s stock valued at $8,713,000 after buying an additional 153,662 shares during the last quarter. Institutional investors and hedge funds own 94.16% of the company’s stock.
TVPT has been the subject of a number of recent analyst reports. ValuEngine cut Travelport Worldwide from a “buy” rating to a “hold” rating in a research report on Saturday, April 13th. Zacks Investment Research raised Travelport Worldwide from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Tuesday, February 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Travelport Worldwide has a consensus rating of “Hold” and a consensus price target of $19.55.
Travelport Worldwide (NYSE:TVPT) last released its quarterly earnings data on Friday, February 22nd. The company reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.05. Travelport Worldwide had a negative return on equity of 25.37% and a net margin of 1.35%. The company had revenue of $588.60 million during the quarter, compared to analysts’ expectations of $580.47 million. During the same period last year, the firm posted $0.35 earnings per share. The business’s revenue was up 2.6% on a year-over-year basis.
About Travelport Worldwide
Travelport Worldwide Limited, together with its subsidiaries, operates a travel commerce platform that offers distribution, technology, payment, mobile, 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, such as airlines, hotel chains, and car rental companies with online and offline travel buyers in a business-to-business travel platform.
Further Reading: Debt-To-Equity Ratio
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