Geode Capital Management LLC Acquires 386,636 Shares of Global Business Travel Group, Inc. (NYSE:GBTG)

Geode Capital Management LLC lifted its stake in shares of Global Business Travel Group, Inc. (NYSE:GBTG - Free Report) by 19.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,339,395 shares of the company's stock after buying an additional 386,636 shares during the quarter. Geode Capital Management LLC owned about 0.49% of Global Business Travel Group worth $17,993,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of GBTG. Bank of New York Mellon Corp boosted its position 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 valued at $6,652,000 after purchasing an additional 925,018 shares in the last quarter. State Street Corp boosted its stake in Global Business Travel Group by 21.7% during the third quarter. State Street Corp now owns 1,946,990 shares of the company's stock worth $14,972,000 after acquiring an additional 346,540 shares in the last quarter. Advantage Alpha Capital Partners LP bought a new position in shares of Global Business Travel Group during the third quarter valued at approximately $2,077,000. Charles Schwab Investment Management Inc. boosted its position in shares of Global Business Travel Group by 41.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 806,519 shares of the company's stock worth $6,202,000 after purchasing an additional 237,682 shares in the last quarter. Finally, Barclays PLC increased its position in Global Business Travel Group by 362.3% during the 3rd quarter. Barclays PLC now owns 198,673 shares of the company's stock valued at $1,528,000 after buying an additional 155,696 shares in the last quarter. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GBTG has been the subject of several recent analyst reports. Citigroup lifted their price target on Global Business Travel Group from $9.00 to $9.50 and gave the stock a "buy" rating in a research report on Friday, October 4th. UBS Group began 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 for the company. Finally, Morgan Stanley increased 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.

Global Business Travel Group Stock Performance

Shares of NYSE:GBTG traded down $0.19 during trading on Friday, hitting $9.37. The company's stock had a trading volume of 560,795 shares, compared to its average volume of 664,284. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.56 and a quick 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 company has a 50-day moving average of $8.80 and a 200-day moving average of $7.61. Global Business Travel Group, Inc. has a 12 month low of $4.49 and a 12 month high of $9.60.

Global Business Travel Group (NYSE:GBTG - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.14). The business had revenue of $597.00 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the business posted ($0.02) earnings per share. On average, sell-side analysts expect that Global Business Travel Group, Inc. will post -0.17 earnings per share for the current year.

Global Business Travel Group announced that its Board of Directors has initiated a share buyback program on Tuesday, November 5th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to repurchase 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 stock is undervalued.

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.