Golden State Wealth Management LLC acquired a new stake in Global Business Travel Group, Inc. (NYSE:GBTG - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 243,852 shares of the company's stock, valued at approximately $2,263,000. Golden State Wealth Management LLC owned approximately 0.05% of Global Business Travel Group at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Verition Fund Management LLC acquired a new stake in Global Business Travel Group during the 3rd quarter valued at $98,000. Quadrature Capital Ltd acquired a new stake in Global Business Travel Group in the third quarter valued at approximately $137,000. Entropy Technologies LP acquired a new stake in Global Business Travel Group during the 3rd quarter valued at $145,000. Jag Capital Management LLC purchased a new stake in Global Business Travel Group during the 3rd quarter worth $171,000. Finally, Intech Investment Management LLC acquired a new position in Global Business Travel Group in the 3rd quarter worth $219,000. 82.46% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms have recently weighed in on GBTG. Morgan Stanley boosted their target price on shares of Global Business Travel Group from $7.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 12th. UBS Group assumed coverage on shares of Global Business Travel Group in a report on Friday, November 22nd. They issued a "buy" rating and a $11.00 target price on the stock.
Check Out Our Latest Research Report on Global Business Travel Group
Global Business Travel Group Stock Performance
GBTG stock traded up $0.04 during midday trading on Tuesday, hitting $8.80. 194,147 shares of the company traded hands, compared to its average volume of 503,909. Global Business Travel Group, Inc. has a twelve month low of $4.49 and a twelve month high of $9.60. The stock has a market capitalization of $4.14 billion, a price-to-earnings ratio of -24.43 and a beta of 0.71. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.24. The business has a 50 day simple moving average of $9.10 and a 200-day simple moving average of $8.14.
Global Business Travel Group announced that its Board of Directors has approved a stock buyback plan on Tuesday, November 5th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 8.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.
Global Business Travel Group Company Profile
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Free Report)
Global Business Travel Group, Inc provides business-to-business (B2B) travel platform in the United States and internationally. The company's platform offers a suite of technology-enabled solutions to business travelers and clients; travel content suppliers, such as airlines, hotels, ground transportation, and aggregators; and third-party travel agencies.
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