Charles Schwab Investment Management Inc. Grows Holdings in Global Business Travel Group, Inc. (NYSE:GBTG)

Charles Schwab Investment Management Inc. grew its holdings in Global Business Travel Group, Inc. (NYSE:GBTG - Free Report) by 41.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 806,519 shares of the company's stock after purchasing an additional 237,682 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.17% of Global Business Travel Group worth $6,202,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp grew its stake in Global Business Travel Group by 1,116.6% in the second quarter. Bank of New York Mellon Corp now owns 1,007,861 shares of the company's stock valued at $6,652,000 after purchasing an additional 925,018 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Global Business Travel Group by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 971,900 shares of the company's stock worth $5,841,000 after buying an additional 10,446 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Global Business Travel Group by 419.3% during the 2nd quarter. Rhumbline Advisers now owns 143,883 shares of the company's stock worth $950,000 after acquiring an additional 116,175 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Global Business Travel Group by 595.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 114,695 shares of the company's stock worth $757,000 after acquiring an additional 98,213 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Global Business Travel Group by 431.2% in the second quarter. Renaissance Technologies LLC now owns 105,700 shares of the company's stock valued at $698,000 after acquiring an additional 85,800 shares in the last quarter. Hedge funds and other institutional investors own 82.46% of the company's stock.

Global Business Travel Group Stock Performance

NYSE:GBTG traded down $0.02 during midday trading on Thursday, hitting $9.21. The company's stock had a trading volume of 442,117 shares, compared to its average volume of 639,745. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.56 and a quick ratio of 1.56. Global Business Travel Group, Inc. has a fifty-two week low of $4.49 and a fifty-two week high of $9.60. The firm's 50 day moving average is $8.40 and its 200-day moving average is $7.35. The firm has a market cap of $4.33 billion, a P/E ratio of -25.56 and a beta of 0.72.

Global Business Travel Group (NYSE:GBTG - Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.14). The business had revenue of $597.00 million for the quarter, compared to analysts' expectations of $611.89 million. Global Business Travel Group had a negative return on equity of 9.70% and a negative net margin of 7.06%. During the same period last year, the business earned ($0.02) EPS. Equities analysts anticipate that Global Business Travel Group, Inc. will post -0.17 earnings per share for the current fiscal year.

Global Business Travel Group declared that its Board of Directors has initiated a share buyback plan on Tuesday, November 5th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to purchase up to 8.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GBTG shares. Citigroup increased their price target on Global Business Travel Group from $9.00 to $9.50 and gave the company a "buy" rating in a research note on Friday, October 4th. UBS Group assumed coverage on shares of Global Business Travel Group in a research report on Friday, November 22nd. They issued a "buy" rating and a $11.00 price objective for the company. Finally, 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.

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.