SEC 13F Narrative: Clovis Capital Management LP Upped Position in Travelport Worldwide LTD (TVPT) as Stock Value Rose

SEC 13F Narrative: Clovis Capital Management LP Upped Position in Travelport Worldwide LTD (TVPT) as Stock Value Rose

Scott Scher & Michael Prober increased its stake in Travelport Worldwide Ltd (TVPT) by 284.99% based on its latest 2016Q3 regulatory filing with the SEC. Clovis Capital Management Lp bought 854,977 shares as the company’s stock rose 14.12% with the market. The hedge fund run by Scott Scher & Michael Prober held 1.15 million shares of the transportation services company at the end of 2016Q3, valued at $17.36M, up from 300,000 at the end of the previous reported quarter. Clovis Capital Management Lp who had been investing in Travelport Worldwide Ltd for a number of months, seems to be bullish on the $1.80B market cap company. The stock is down 0.14% or $0.02 hitting $14.49, despite the positive news. About 56,329 shares traded hands. Travelport Worldwide Ltd (NYSE:TVPT) has risen 5.22% since June 7, 2016 and is uptrending. It has underperformed by 2.20% the S&P500.

Clovis Capital Management, a firm focusing on high net-worth families as well as institutional investors, is a long/short equity hedge fund. It was founded by Michael Prober and Scott Scher in 2002. Prior to forming Clovis Capital, Prober and Scher were employed by Cramer Rosenthal McGlynn. Clovis Capital Management Lp is a New York-based hedge fund that was founded by Scott Scher & Michael Prober. It had more than $264.67 million assets under management in March, 2014. Taken from Clovis Capital Management latest Adv, the fund reported to have 8 full and part-time employees. Among which 5 performing investment advisory and research functions. The hedge fund had between 1-10 clients.

More notable recent Travelport Worldwide Ltd (NYSE:TVPT) news were published by: Prnewswire.com which released: “Travelport Worldwide Limited Confirms Date and Time for Fourth Quarter 2016 …” on January 10, 2017, also Marketwatch.com with their article: “/quotes/zigman/3870025/realtime” published on September 25, 2014, Bloomberg.com published: “Travelport Worldwide Gains in Debut After $480 Million IPO” on September 25, 2014. More interesting news about Travelport Worldwide Ltd (NYSE:TVPT) were released by: Prnewswire.com and their article: “Travelport Worldwide Limited Reports Fourth Quarter and Full Year 2015 Results” published on February 18, 2016 as well as Prnewswire.com‘s news article titled: “Travelport Worldwide Limited Confirms Date and Time for Third Quarter 2016 …” with publication date: October 04, 2016.

According to Zacks Investment Research, “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.”

Travelport Worldwide Ltd (NYSE:TVPT) Ratings Coverage

Out of 3 analysts covering Travelport Worldwide Limited (NYSE:TVPT), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. Travelport Worldwide Limited has been the topic of 3 analyst reports since December 22, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Wednesday, April 13 by Sterne Agee CRT. The firm has “Neutral” rating by Suntrust Robinson given on Tuesday, December 22.

TVPT Company Profile

Travelport Worldwide Limited, incorporated on July 12, 2006, provides a travel commerce platform, which offers distribution, technology, payment and other solutions for travel and tourism industry. The Firm 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. It provides air distribution services to approximately 400 airlines around the globe, including approximately 120 low cost carriers (LCCs). It distributes ancillaries for approximately 100 airlines. In addition, it serves various Beyond Air travel providers, including approximately 650,000 hotel properties (of which over 550,000 are independent hotel properties), over 36,000 car rental locations, approximately 60 cruise-line and tour operators, and over 10 rail networks across the world. It aggregates travel content across approximately 68,000 travel agency locations representing over 235,000 online and offline travel agency terminals across the world.

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