Parag Vora’s New Bet

Is it a good time to invest in Orbitz Worldwide, Inc. (NYSE:OWW)? Parag Vora seems to think so, having recently initiated a position for his fund. In a filing with the Securities and Exchange Commission, HG Vora Capital Management has disclosed the addition of 5.85 million shares of Orbitz Worldwide, Inc. (NYSE:OWW) to its equity portfolio. This move gives the fund control over 5.3% of the company’s common stock.

Orbitz Worldwide, Inc. (NYSE:OWW) is also on Paul Reeder and Edward Shapiro‘s radar. Their fund, Par Capital Management, hold 16.5 million shares, according to its latest 13F filing. David Keidan, the manager of Buckingham Capital Management, is bullish on this stock, having almost doubled his fund’s stake to 2.7 million shares. David E. Shaw is also a fan of Orbitz Worldwide, Inc. (NYSE:OWW) and has increased his investment in the company by 13% during the second quarter of 2014. His fund currently holds 2.1 million shares, with an estimated market value of $16.8 million.

An online travel company, Orbitz Worldwide, Inc. (NYSE:OWW) has a market cap of $882 million and does not pay a dividend. For the three months ending June 30, 2014, the company has posted earnings of $0.06 per share, derived from revenues of $248 million. Current quarter is expected to bring revenues of $251 million and earnings of $0.15 per share. The stock is traded at a trialing Price to Earnings (P/E) ratio of 67.23, while the forward P/E ratio of 17.39 signals market participants expect Orbitz Worldwide, Inc. (NYSE:OWW) to significantly improve their financial performance. One of the company’s divisions, Orbitz Partner Network has recently announced a long-term partnership with RIU Hotels & Resorts, which will allow the two companies to offer dynamic vacation package bookings for their customers.

In another recent move, Parag Vora has initiated a bet on Life Time Fitness, Inc. (NYSE:LTM), an operator of sports, recreation and spa outlets. HG Vora Capital Management has acquired a little over 2 million shares, which account for roughly 5.1% of the company’s common stock. Vora is still a fan of Pinnacle Entertainment, Inc (NYSE:PNK), boosting his fund’s stake in the company by 10% during the second quarter of this year. HG Vora Capital currently holds 5.15 million shares, which account for approximately 21% of its equity portfolio.

Disclosure: none.