Arrowstreet Capital Limited Partnership Increases Stock Position in Global Business Travel Group, Inc. (NYSE:GBTG)

Arrowstreet Capital Limited Partnership raised its position in shares of Global Business Travel Group, Inc. (NYSE:GBTG - Free Report) by 225.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 403,262 shares of the company's stock after acquiring an additional 279,533 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.09% of Global Business Travel Group worth $3,742,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Pictet Asset Management Holding SA grew its stake in shares of Global Business Travel Group by 17.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 13,578 shares of the company's stock valued at $126,000 after purchasing an additional 1,976 shares during the last quarter. EntryPoint Capital LLC boosted its position in Global Business Travel Group by 28.9% during the fourth quarter. EntryPoint Capital LLC now owns 50,842 shares of the company's stock valued at $472,000 after purchasing an additional 11,384 shares during the last quarter. Advantage Alpha Capital Partners LP increased its stake in shares of Global Business Travel Group by 31.0% during the 4th quarter. Advantage Alpha Capital Partners LP now owns 353,967 shares of the company's stock worth $3,285,000 after purchasing an additional 83,812 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Global Business Travel Group during the fourth quarter worth $161,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Global Business Travel Group in the fourth quarter valued at approximately $439,000. Institutional investors own 82.46% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

Separately, BTIG Research assumed coverage on shares of Global Business Travel Group in a research note on Tuesday, March 18th. They issued a "buy" rating and a $10.00 price objective on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $9.90.

Global Business Travel Group Stock Up 0.6 %

Shares of NYSE:GBTG traded up $0.04 during mid-day trading on Monday, hitting $6.78. 12,119 shares of the company traded hands, compared to its average volume of 824,349. Global Business Travel Group, Inc. has a 12-month low of $5.30 and a 12-month high of $9.60. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.24. The stock has a 50-day moving average price of $7.86 and a two-hundred day moving average price of $8.37. The stock has a market cap of $3.24 billion, a P/E ratio of -18.67 and a beta of 0.77.

Global Business Travel Group Profile

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.