Quest Partners LLC Makes New $610,000 Investment in Global Business Travel Group, Inc. (NYSE:GBTG)

Quest Partners LLC purchased a new stake in Global Business Travel Group, Inc. (NYSE:GBTG - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 79,335 shares of the company's stock, valued at approximately $610,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bank of New York Mellon Corp raised its stake in shares of Global Business Travel Group by 1,116.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,007,861 shares of the company's stock valued at $6,652,000 after acquiring an additional 925,018 shares during the period. Vanguard Group Inc. raised its stake 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 valued at $5,841,000 after acquiring an additional 10,446 shares during the period. Tidal Investments LLC purchased a new stake in shares of Global Business Travel Group in the 1st quarter valued at approximately $3,383,000. Rhumbline Advisers raised its stake in shares of Global Business Travel Group by 419.3% in the 2nd quarter. Rhumbline Advisers now owns 143,883 shares of the company's stock valued at $950,000 after acquiring an additional 116,175 shares during the period. Finally, Ionic Capital Management LLC raised its stake in shares of Global Business Travel Group by 480.1% in the 1st quarter. Ionic Capital Management LLC now owns 131,245 shares of the company's stock valued at $789,000 after acquiring an additional 108,619 shares during the period. 82.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GBTG shares. Citigroup boosted their price target on shares of 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. Evercore ISI lifted their price objective on shares of Global Business Travel Group from $9.00 to $10.00 and gave the company an "outperform" rating in a report on Wednesday, August 7th. Finally, UBS Group began coverage on shares of Global Business Travel Group in a report on Friday. They issued a "buy" rating and a $11.00 price objective for the company.

Global Business Travel Group Trading Up 4.0 %

Shares of Global Business Travel Group stock traded up $0.36 during trading hours on Friday, hitting $9.44. The company had a trading volume of 822,028 shares, compared to its average volume of 862,546. The company's 50-day moving average is $7.91 and its two-hundred day moving average is $7.03. Global Business Travel Group, Inc. has a twelve month low of $4.49 and a twelve month high of $9.46. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.24.

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). Global Business Travel Group had a negative net margin of 7.06% and a negative return on equity of 9.70%. The company had revenue of $597.00 million during the quarter, compared to analyst estimates of $611.89 million. During the same quarter in the previous year, the company posted ($0.02) EPS. Sell-side analysts anticipate that Global Business Travel Group, Inc. will post -0.17 EPS for the current year.

Global Business Travel Group announced that its board has approved a stock repurchase plan on Tuesday, November 5th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to reacquire up to 8.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its shares are 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.