Renaissance Technologies LLC Lowers Stock Holdings in Global Business Travel Group, Inc. (NYSE:GBTG)

Renaissance Technologies LLC lessened its holdings in Global Business Travel Group, Inc. (NYSE:GBTG - Free Report) by 29.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 429,520 shares of the company's stock after selling 182,380 shares during the period. Renaissance Technologies LLC owned 0.09% of Global Business Travel Group worth $3,986,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of GBTG. Skandinaviska Enskilda Banken AB publ grew its position in shares of Global Business Travel Group by 390.6% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 2,762 shares of the company's stock worth $26,000 after purchasing an additional 2,199 shares in the last quarter. Xponance Inc. bought a new position in Global Business Travel Group in the 4th quarter worth approximately $105,000. Cibc World Markets Corp purchased a new stake in Global Business Travel Group during the 4th quarter valued at approximately $109,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Global Business Travel Group during the fourth quarter valued at approximately $112,000. Finally, Pictet Asset Management Holding SA lifted its holdings in shares of Global Business Travel Group by 17.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 13,578 shares of the company's stock worth $126,000 after buying an additional 1,976 shares in the last quarter. 82.46% of the stock is owned by institutional investors.

Global Business Travel Group Stock Up 2.4 %

Shares of GBTG opened at $6.58 on Wednesday. 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 stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of -18.29 and a beta of 0.77. Global Business Travel Group, Inc. has a 1 year low of $5.30 and a 1 year high of $9.60. The business's 50 day simple moving average is $7.54 and its 200-day simple moving average is $8.32.

Wall Street Analysts Forecast Growth

Separately, BTIG Research started coverage on shares of Global Business Travel Group in a research note on Tuesday, March 18th. They set a "buy" rating and a $10.00 target price for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Global Business Travel Group has a consensus rating of "Moderate Buy" and a consensus price target of $9.90.

Global Business Travel Group Company 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.

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