State Street Corp Increases Stake in Global Business Travel Group, Inc. (NYSE:GBTG)

State Street Corp raised its stake in shares of Global Business Travel Group, Inc. (NYSE:GBTG - Free Report) by 21.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,946,990 shares of the company's stock after acquiring an additional 346,540 shares during the period. State Street Corp owned approximately 0.41% of Global Business Travel Group worth $14,972,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in shares of 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 worth $6,652,000 after buying an additional 925,018 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in 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 acquiring an additional 237,682 shares in the last quarter. Advantage Alpha Capital Partners LP bought a new stake in Global Business Travel Group during the 3rd quarter worth approximately $2,077,000. Rhumbline Advisers lifted its holdings in Global Business Travel Group by 419.3% during the second quarter. Rhumbline Advisers now owns 143,883 shares of the company's stock valued at $950,000 after purchasing an additional 116,175 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Global Business Travel Group in the third quarter worth approximately $984,000. Hedge funds and other institutional investors own 82.46% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Citigroup raised their price objective on shares of Global Business Travel Group from $9.00 to $9.50 and gave the company a "buy" rating in a research report on Friday, October 4th. Morgan Stanley raised their price target on 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. Finally, UBS Group initiated coverage on Global Business Travel Group in a research note on Friday, November 22nd. They issued a "buy" rating and a $11.00 price objective for the company.

Global Business Travel Group Trading Up 1.4 %

NYSE GBTG traded up $0.13 on Wednesday, hitting $9.48. 268,053 shares of the stock were exchanged, compared to its average volume of 665,702. Global Business Travel Group, Inc. has a 52-week low of $4.49 and a 52-week high of $9.60. The firm has a market capitalization of $4.46 billion, a P/E ratio of -26.33 and a beta of 0.73. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.56 and a current ratio of 1.56. The stock has a fifty day moving average price of $8.70 and a two-hundred day moving average price of $7.55.

Global Business Travel Group (NYSE:GBTG - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.22) 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 firm had revenue of $597.00 million for the quarter, compared to the consensus estimate of $611.89 million. During the same quarter in the previous year, the company posted ($0.02) earnings per share. Research analysts forecast that Global Business Travel Group, Inc. will post -0.17 EPS for the current fiscal year.

Global Business Travel Group declared that its Board of Directors has initiated a stock repurchase program on Tuesday, November 5th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 8.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership 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.