The Manufacturers Life Insurance Company Has $553,000 Stock Holdings in Global Business Travel Group, Inc. (NYSE:GBTG)

The Manufacturers Life Insurance Company lifted its position in shares of Global Business Travel Group, Inc. (NYSE:GBTG) by 31.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 71,901 shares of the company’s stock after buying an additional 17,313 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Global Business Travel Group were worth $553,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Amalgamated Bank raised its holdings in Global Business Travel Group by 299.1% in the 2nd quarter. Amalgamated Bank now owns 4,342 shares of the company’s stock valued at $29,000 after acquiring an additional 3,254 shares in the last quarter. Principal Financial Group Inc. acquired a new position in Global Business Travel Group in the second quarter valued at about $108,000. Susquehanna Fundamental Investments LLC bought a new stake in Global Business Travel Group during the second quarter worth about $143,000. Entropy Technologies LP acquired a new stake in Global Business Travel Group during the third quarter worth about $145,000. Finally, Victory Capital Management Inc. acquired a new stake in Global Business Travel Group during the second quarter worth about $147,000. Institutional investors own 82.46% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on GBTG shares. Citigroup upped their price target on shares of Global Business Travel Group from $9.00 to $9.50 and gave the stock a “buy” rating in a report on Friday, October 4th. Morgan Stanley upped their target price on Global Business Travel Group from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, UBS Group started coverage on Global Business Travel Group in a research note on Friday, November 22nd. They issued a “buy” rating and a $11.00 price target on the stock.

Global Business Travel Group Trading Down 2.4 %

Shares of Global Business Travel Group stock opened at $9.00 on Friday. The firm’s 50 day moving average is $8.46 and its 200 day moving average is $7.39. The firm has a market capitalization of $4.23 billion, a PE ratio of -25.00 and a beta of 0.73. 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 current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.24.

Global Business Travel Group (NYSE:GBTG) last issued its earnings results on Tuesday, November 5th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.14). The company had revenue of $597.00 million during the quarter, compared to analyst estimates of $611.89 million. Global Business Travel Group had a negative net margin of 7.06% and a negative return on equity of 9.70%. During the same quarter in the prior year, the business earned ($0.02) EPS. Equities research analysts forecast that Global Business Travel Group, Inc. will post -0.17 earnings per share for the current fiscal year.

Global Business Travel Group declared that its board has approved a stock repurchase plan on Tuesday, November 5th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to repurchase up to 8.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

About Global Business Travel Group

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.