Vanguard Group Inc. Increases Stock Position in Global Business Travel Group, Inc. $GBTG

Vanguard Group Inc. increased its position in Global Business Travel Group, Inc. (NYSE:GBTG) by 1.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 11,113,383 shares of the company’s stock after buying an additional 116,419 shares during the period. Vanguard Group Inc.’s holdings in Global Business Travel Group were worth $89,796,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GBTG. Ballast Asset Management LP increased its stake in Global Business Travel Group by 27.2% during the third quarter. Ballast Asset Management LP now owns 505,999 shares of the company’s stock worth $4,088,000 after acquiring an additional 108,077 shares during the last quarter. American Capital Advisory LLC grew its holdings in shares of Global Business Travel Group by 33.0% during the 3rd quarter. American Capital Advisory LLC now owns 125,851 shares of the company’s stock worth $1,017,000 after purchasing an additional 31,261 shares during the period. Forum Financial Management LP acquired a new stake in Global Business Travel Group during the 3rd quarter worth approximately $83,000. State of Alaska Department of Revenue acquired a new stake in Global Business Travel Group during the 3rd quarter worth approximately $211,000. Finally, Ethic Inc. raised its holdings in Global Business Travel Group by 14.1% in the third quarter. Ethic Inc. now owns 28,753 shares of the company’s stock valued at $232,000 after buying an additional 3,552 shares during the period. Institutional investors and hedge funds own 82.46% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on GBTG shares. Wall Street Zen upgraded shares of Global Business Travel Group from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Weiss Ratings reiterated a “sell (d)” rating on shares of Global Business Travel Group in a report on Monday, December 29th. Zacks Research upgraded Global Business Travel Group from a “strong sell” rating to a “hold” rating in a research note on Friday, January 9th. Evercore increased their target price on Global Business Travel Group from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Monday, December 1st. Finally, Morgan Stanley boosted their price target on Global Business Travel Group from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 11th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $10.25.

Global Business Travel Group Stock Up 1.6%

Shares of NYSE GBTG opened at $5.80 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.23 and a current ratio of 1.23. Global Business Travel Group, Inc. has a 1 year low of $4.95 and a 1 year high of $8.64. The stock’s 50-day simple moving average is $6.62 and its 200-day simple moving average is $7.45. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 290.00 and a beta of 0.77.

Global Business Travel Group Profile

Global Business Travel Group (NYSE: GBTG), formerly known as American Express Global Business Travel, is a provider of end-to-end corporate travel management solutions. The company helps organizations plan, book and manage business travel, meetings and events through an integrated suite of services. Its offerings include traveller support, expense management, virtual and in-person meeting services, data analytics and duty-of-care solutions tailored to enterprise customers.

Operating under a global network of offices and digital platforms, Global Business Travel Group serves clients across the Americas, EMEA and Asia Pacific.