Global Business Travel Group, Inc. (NYSE:GBTG) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Global Business Travel Group, Inc. (NYSE:GBTG - Free Report) by 431.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 174,340 shares of the company's stock after acquiring an additional 141,513 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Global Business Travel Group were worth $1,618,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Geode Capital Management LLC increased its holdings in shares of Global Business Travel Group by 19.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,339,395 shares of the company's stock valued at $17,993,000 after acquiring an additional 386,636 shares during the last quarter. State Street Corp increased its holdings in shares of Global Business Travel Group by 21.7% in the 3rd quarter. State Street Corp now owns 1,946,990 shares of the company's stock valued at $14,972,000 after acquiring an additional 346,540 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Global Business Travel Group by 45.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,234,252 shares of the company's stock valued at $11,454,000 after purchasing an additional 384,560 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Global Business Travel Group by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 812,242 shares of the company's stock valued at $7,538,000 after purchasing an additional 5,723 shares during the period. Finally, PB Investment Partners L.P. boosted its position in shares of Global Business Travel Group by 0.6% in the 4th quarter. PB Investment Partners L.P. now owns 613,264 shares of the company's stock valued at $5,691,000 after purchasing an additional 3,405 shares during the period. Hedge funds and other institutional investors own 82.46% of the company's stock.

Remove Ads

Global Business Travel Group Stock Performance

Global Business Travel Group stock traded down $0.16 during mid-day trading on Friday, reaching $7.58. 1,319,349 shares of the company were exchanged, compared to its average volume of 754,248. Global Business Travel Group, Inc. has a twelve month low of $5.30 and a twelve month high of $9.60. The firm's 50-day simple moving average is $8.53 and its two-hundred day simple moving average is $8.39. 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 firm has a market cap of $3.63 billion, a PE ratio of -21.06 and a beta of 0.72.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GBTG. Morgan Stanley upped their target price on Global Business Travel Group from $7.00 to $9.00 and gave the company an "equal weight" rating in a research report on Thursday, December 12th. BTIG Research assumed coverage on Global Business Travel Group in a research report on Tuesday. They issued a "buy" rating and a $10.00 target price for the company. Finally, UBS Group assumed coverage on Global Business Travel Group in a research report on Friday, November 22nd. They set a "buy" rating and a $11.00 price objective for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.