Taconic Capital Advisors LP Reduces Stock Position in Global Business Travel Group, Inc. (NYSE:GBTG)

Taconic Capital Advisors LP decreased its stake in shares of Global Business Travel Group, Inc. (NYSE:GBTG - Free Report) by 31.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 531,539 shares of the company's stock after selling 245,792 shares during the period. Global Business Travel Group makes up about 2.2% of Taconic Capital Advisors LP's investment portfolio, making the stock its 8th largest holding. Taconic Capital Advisors LP owned about 0.11% of Global Business Travel Group worth $4,088,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Amalgamated Bank increased its holdings in Global Business Travel Group by 299.1% during the 2nd quarter. Amalgamated Bank now owns 4,342 shares of the company's stock worth $29,000 after purchasing an additional 3,254 shares in the last quarter. Principal Financial Group Inc. bought a new position in shares of Global Business Travel Group during the second quarter worth about $108,000. Susquehanna Fundamental Investments LLC acquired a new stake in Global Business Travel Group in the 2nd quarter valued at approximately $143,000. Entropy Technologies LP bought a new stake in Global Business Travel Group in the 3rd quarter valued at approximately $145,000. Finally, Victory Capital Management Inc. bought a new stake in Global Business Travel Group in the 2nd quarter valued at approximately $147,000. 82.46% of the stock is currently owned by institutional investors and hedge funds.

Global Business Travel Group Stock Up 1.2 %

Shares of Global Business Travel Group stock traded up $0.12 on Friday, reaching $9.41. 417,712 shares of the company were exchanged, compared to its average volume of 637,934. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of -26.13 and a beta of 0.63. 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, Inc. has a one year low of $4.49 and a one year high of $9.60. The company has a 50-day moving average of $8.11 and a 200 day moving average of $7.15.

Global Business Travel Group (NYSE:GBTG - Get Free Report) last posted its quarterly 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 return on equity of 9.70% and a negative net margin of 7.06%. The firm had revenue of $597.00 million for the quarter, compared to the consensus estimate of $611.89 million. During the same period last year, the company posted ($0.02) earnings per share. On average, equities research analysts forecast that Global Business Travel Group, Inc. will post -0.17 earnings per share for the current year.

Global Business Travel Group declared that its Board of Directors has authorized a share repurchase program on Tuesday, November 5th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 8.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GBTG shares. 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. 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 price target on the stock. Finally, Citigroup increased their price objective on shares of Global Business Travel Group from $9.00 to $9.50 and gave the stock a "buy" rating in a research note on Friday, October 4th.

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.