Global Business Travel Group, Inc. (NYSE:GBTG) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in shares of Global Business Travel Group, Inc. (NYSE:GBTG - Free Report) by 45.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,234,252 shares of the company's stock after acquiring an additional 384,560 shares during the period. Bank of New York Mellon Corp owned 0.26% of Global Business Travel Group worth $11,454,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its holdings in Global Business Travel Group by 2.2% in the third quarter. JPMorgan Chase & Co. now owns 101,127 shares of the company's stock valued at $778,000 after acquiring an additional 2,182 shares during the last quarter. PB Investment Partners L.P. raised its holdings in shares of Global Business Travel Group by 0.6% in the 4th quarter. PB Investment Partners L.P. now owns 613,264 shares of the company's stock worth $5,691,000 after purchasing an additional 3,405 shares during the period. SG Americas Securities LLC lifted its stake in shares of Global Business Travel Group by 17.2% in the 4th quarter. SG Americas Securities LLC now owns 56,807 shares of the company's stock valued at $527,000 after purchasing an additional 8,348 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Global Business Travel Group in the 4th quarter valued at about $112,000. Finally, Verition Fund Management LLC purchased a new stake in shares of Global Business Travel Group during the 3rd quarter worth about $98,000. Hedge funds and other institutional investors own 82.46% of the company's stock.

Global Business Travel Group Price Performance

GBTG stock opened at $7.26 on Friday. The firm has a market cap of $3.41 billion, a P/E ratio of -20.15 and a beta of 0.72. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.56 and a current ratio of 1.56. Global Business Travel Group, Inc. has a 1 year low of $5.30 and a 1 year high of $9.60. The stock has a 50-day simple moving average of $8.67 and a 200-day simple moving average of $8.38.

Wall Street Analyst Weigh In

GBTG has been the topic of several research reports. Morgan Stanley raised their price target on shares of Global Business Travel Group from $7.00 to $9.00 and gave the company an "equal weight" rating in a report on Thursday, December 12th. UBS Group started coverage on shares of Global Business Travel Group in a research note on Friday, November 22nd. They issued a "buy" rating and a $11.00 target price on the stock.

Remove Ads

About Global Business Travel Group

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.

Want to see what other hedge funds are holding GBTG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Global Business Travel Group, Inc. (NYSE:GBTG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.