Vanguard Group Inc. trimmed its stake in Global Business Travel Group, Inc. (NYSE:GBTG - Free Report) by 24.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,268,232 shares of the company's stock after selling 2,979,627 shares during the quarter. Vanguard Group Inc. owned 1.97% of Global Business Travel Group worth $86,009,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ grew its position in Global Business Travel Group by 390.6% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 2,762 shares of the company's stock valued at $26,000 after purchasing an additional 2,199 shares during the last quarter. Verition Fund Management LLC bought a new position in Global Business Travel Group in the third quarter valued at about $98,000. Xponance Inc. purchased a new position in shares of Global Business Travel Group in the fourth quarter worth approximately $105,000. Cibc World Markets Corp purchased a new position in shares of Global Business Travel Group during the 4th quarter worth $109,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Global Business Travel Group during the fourth quarter valued at about $112,000. 82.46% of the stock is owned by hedge funds and other institutional investors.
Global Business Travel Group Price Performance
GBTG traded down $0.03 during trading on Tuesday, reaching $6.69. 68,616 shares of the company traded hands, compared to its average volume of 720,851. Global Business Travel Group, Inc. has a 12-month low of $5.30 and a 12-month high of $9.60. The firm has a fifty day simple moving average of $7.81 and a 200 day simple moving average of $8.36. 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 company has a market cap of $3.20 billion, a P/E ratio of -18.57 and a beta of 0.77.
Analyst Upgrades and Downgrades
Separately, BTIG Research started coverage on shares of Global Business Travel Group in a research report on Tuesday, March 18th. They set a "buy" rating and a $10.00 price objective on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Global Business Travel Group has an average rating of "Moderate Buy" and a consensus price target of $9.90.
View Our Latest Stock Report on Global Business Travel Group
About Global Business Travel Group
(
Free Report)
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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