Barclays PLC raised its holdings in shares of Global Business Travel Group, Inc. (NYSE:GBTG - Free Report) by 362.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,673 shares of the company's stock after acquiring an additional 155,696 shares during the quarter. Barclays PLC's holdings in Global Business Travel Group were worth $1,528,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in shares of Global Business Travel Group by 1,116.6% during the second quarter. Bank of New York Mellon Corp now owns 1,007,861 shares of the company's stock worth $6,652,000 after acquiring an additional 925,018 shares in the last quarter. State Street Corp increased its position in Global Business Travel Group by 21.7% in the 3rd quarter. State Street Corp now owns 1,946,990 shares of the company's stock worth $14,972,000 after purchasing an additional 346,540 shares during the last quarter. Advantage Alpha Capital Partners LP acquired a new position in Global Business Travel Group in the 3rd quarter worth about $2,077,000. Charles Schwab Investment Management Inc. raised its position in Global Business Travel Group by 41.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 806,519 shares of the company's stock valued at $6,202,000 after acquiring an additional 237,682 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Global Business Travel Group during the 3rd quarter valued at $984,000. Institutional investors and hedge funds own 82.46% of the company's stock.
Global Business Travel Group Stock Performance
Shares of Global Business Travel Group stock traded down $0.19 during trading on Friday, reaching $9.37. The company's stock had a trading volume of 560,795 shares, compared to its average volume of 664,284. Global Business Travel Group, Inc. has a one year low of $4.49 and a one year high of $9.60. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.56 and a current ratio of 1.56. The firm has a market cap of $4.41 billion, a price-to-earnings ratio of -26.03 and a beta of 0.73. The business's fifty day moving average price is $8.80 and its 200-day moving average price is $7.61.
Global Business Travel Group (NYSE:GBTG - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.14). Global Business Travel Group had a negative return on equity of 9.70% and a negative net margin of 7.06%. The business had revenue of $597.00 million during the quarter, compared to the consensus estimate of $611.89 million. During the same period in the prior year, the firm earned ($0.02) earnings per share. As a group, equities research analysts predict that Global Business Travel Group, Inc. will post -0.17 earnings per share for the current year.
Global Business Travel Group declared that its Board of Directors has approved a stock repurchase program on Tuesday, November 5th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to purchase up to 8.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.
Wall Street Analyst Weigh In
GBTG has been the subject of several recent analyst reports. Citigroup upped their price target on Global Business Travel Group from $9.00 to $9.50 and gave the stock a "buy" rating in a research note on Friday, October 4th. Morgan Stanley upped their target price on 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. Finally, UBS Group started coverage on Global Business Travel Group in a report on Friday, November 22nd. They set a "buy" rating and a $11.00 price target on the stock.
Check Out Our Latest Stock Report on GBTG
About Global Business Travel Group
(
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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