Will Orbitz Worldwide’s Earnings Data Cause Top Institutional Shareholders to Sell?

In 2012, Orbitz Worldwide, Inc.’s (NYSE:OWW) shares are down 13.3 percent. On Aug. 8, the company reported its second quarter earnings missed estimates on both revenues and earnings per share. Looking ahead, third-quarter revenue expectations were in the range of $197 million to $203 million, coming in lower than the $216 million Wall Street consensus.

Orbitz attributed Europe’s economic uncertainty as the explanation for the weak earnings expectations. Chief Financial Officer David Belmont added that “as we look to the second half, the outlook is more challenging than it was a quarter ago, due to a number of factors including the economic challenges in Europe, weakness in air volume in the U.S. online travel agency channel and a stronger U.S. dollar.”

With the disappointing second quarter numbers and weak third quarter forecast, will Orbitz Worldwide’s largest shareholders decrease their holdings? 43 institutional firms indicated owning shares of Orbitz Worldwide, Inc. (NYSE:OWW) in Q2 2012. These firms reported owning a total of 5.878 million shares on 06/30/2012. The shares closed at $3.65 on 06/30/2012.

Here are the ten largest positions in Orbitz Worldwide, Inc. at the end of June 30th, 2012.

JPMorgan Chase & Co held 1,515,981 shares on 06/30/2012 worth $5,533,331.

Technology Crossover Management VI L.L.C. held 1,004,706 shares on 06/30/2012 worth $3,667,177. This brought the portfolio total to 1.49%.

Spark Investment Management LLC held 509,300 shares on 06/30/2012 worth $1,858,945. This brought the portfolio total to 0.34%.

Schwab Charles Investment Management Inc held 347,925 shares on 06/30/2012 worth $1,269,926.

California Public Employees Retirement System held 321,248 shares on 06/30/2012 worth $1,172,555.

TFS Capital LLC held 274,864 shares on 06/30/2012 worth $1,003,254. This brought the portfolio total to 0.06%.

Penbrook Management LLC held 211,430 shares on 06/30/2012 worth $771,720. This brought the portfolio total to 0.97%.

STRS Ohio held 204,600 shares on 06/30/2012 worth $746,790.

TIAA Cref Investment Management LLC held 160,839 shares on 06/30/2012 worth $587,062.

Alliancebernstein L.P. held 154,150 shares on 06/30/2012 worth $562,648.

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