Renaissance Technologies LLC Purchases 85,800 Shares of Global Business Travel Group, Inc. (NYSE:GBTG)

Renaissance Technologies LLC lifted its position in shares of Global Business Travel Group, Inc. (NYSE:GBTG) by 431.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 105,700 shares of the company’s stock after purchasing an additional 85,800 shares during the quarter. Renaissance Technologies LLC’s holdings in Global Business Travel Group were worth $698,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp raised its holdings in 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 during the last quarter. Vanguard Group Inc. raised its holdings in shares of Global Business Travel Group by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 971,900 shares of the company’s stock worth $5,841,000 after acquiring an additional 10,446 shares during the last quarter. Par Capital Management Inc. lifted its position in Global Business Travel Group by 42.1% in the 4th quarter. Par Capital Management Inc. now owns 770,000 shares of the company’s stock valued at $4,966,000 after acquiring an additional 228,149 shares in the last quarter. Tidal Investments LLC acquired a new position in Global Business Travel Group during the 1st quarter valued at about $3,383,000. Finally, Rhumbline Advisers increased its holdings in Global Business Travel Group by 419.3% during the 2nd quarter. Rhumbline Advisers now owns 143,883 shares of the company’s stock worth $950,000 after purchasing an additional 116,175 shares in the last quarter. 82.46% of the stock is currently owned by institutional investors.

Global Business Travel Group Price Performance

Shares of NYSE GBTG opened at $7.56 on Wednesday. The company has a market capitalization of $3.57 billion, a PE ratio of -19.38 and a beta of 0.64. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.11. The stock’s 50 day moving average price is $7.11 and its 200-day moving average price is $6.54. Global Business Travel Group, Inc. has a twelve month low of $4.49 and a twelve month high of $7.79.

Global Business Travel Group (NYSE:GBTG) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.11. The business had revenue of $625.00 million for the quarter, compared to analysts’ expectations of $643.97 million. Global Business Travel Group had a negative return on equity of 1.26% and a negative net margin of 1.66%. On average, equities analysts anticipate that Global Business Travel Group, Inc. will post -0.08 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on GBTG shares. Citigroup raised their target price on Global Business Travel Group from $9.00 to $9.50 and gave the company a “buy” rating in a report on Friday, October 4th. Evercore ISI lifted their price objective on shares of Global Business Travel Group from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th.

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.