UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Invests $984,000 in Global Business Travel Group, Inc. (NYSE:GBTG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Global Business Travel Group, Inc. (NYSE:GBTG - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 127,950 shares of the company's stock, valued at approximately $984,000.

Several other institutional investors and hedge funds have also made changes to their positions in GBTG. Charles Schwab Investment Management Inc. increased its position in shares of Global Business Travel Group by 41.8% during the third 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 during the last quarter. Rhumbline Advisers boosted its stake in shares of Global Business Travel Group by 419.3% during the 2nd quarter. Rhumbline Advisers now owns 143,883 shares of the company's stock valued at $950,000 after buying an additional 116,175 shares during the last quarter. Bank of New York Mellon Corp grew 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 worth $6,652,000 after buying an additional 925,018 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Global Business Travel Group by 431.2% during the 2nd quarter. Renaissance Technologies LLC now owns 105,700 shares of the company's stock valued at $698,000 after acquiring an additional 85,800 shares during the last quarter. Finally, Advantage Alpha Capital Partners LP acquired a new position in Global Business Travel Group during the 3rd quarter worth $2,077,000. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on GBTG shares. UBS Group assumed coverage on Global Business Travel Group in a research note on Friday, November 22nd. They set a "buy" rating and a $11.00 price objective on the stock. Citigroup increased their target price 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. Finally, Morgan Stanley lifted 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.

Global Business Travel Group Stock Up 1.6 %

GBTG stock traded up $0.15 during midday trading on Thursday, reaching $9.32. The company had a trading volume of 1,790,802 shares, compared to its average volume of 660,212. The company has a 50 day moving average of $8.56 and a two-hundred day moving average of $7.46. 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, Inc. has a 1 year low of $4.49 and a 1 year high of $9.60. The company has a market capitalization of $4.39 billion, a P/E ratio of -25.89 and a beta of 0.73.

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 analysts' consensus estimates of ($0.08) by ($0.14). The business had revenue of $597.00 million for the quarter, compared to analyst estimates 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 last year, the firm earned ($0.02) earnings per share. On average, equities research analysts expect that Global Business Travel Group, Inc. will post -0.17 earnings per share for the current fiscal year.

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

Global Business Travel Group 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.