Global Business Travel Group, Inc. (NYSE:GBTG) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC boosted its holdings in shares of Global Business Travel Group, Inc. (NYSE:GBTG) by 19.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,339,395 shares of the company’s stock after purchasing an additional 386,636 shares during the quarter. Geode Capital Management LLC owned approximately 0.49% of Global Business Travel Group worth $17,993,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its position in shares of Global Business Travel Group by 1,116.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,007,861 shares of the company’s stock valued at $6,652,000 after buying an additional 925,018 shares in the last quarter. State Street Corp raised its position in Global Business Travel Group by 21.7% during the third quarter. State Street Corp now owns 1,946,990 shares of the company’s stock worth $14,972,000 after acquiring an additional 346,540 shares during the period. Advantage Alpha Capital Partners LP acquired a new position in Global Business Travel Group during the third quarter worth $2,077,000. Charles Schwab Investment Management Inc. lifted its holdings in Global Business Travel Group by 41.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 806,519 shares of the company’s stock valued at $6,202,000 after purchasing an additional 237,682 shares in the last quarter. Finally, Barclays PLC grew its position in shares of Global Business Travel Group by 362.3% in the third quarter. Barclays PLC now owns 198,673 shares of the company’s stock valued at $1,528,000 after purchasing an additional 155,696 shares during the period. 82.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on GBTG shares. UBS Group assumed coverage on shares of Global Business Travel Group in a research report on Friday, November 22nd. They set a “buy” rating and a $11.00 price target for the company. Morgan Stanley increased their target price on Global Business Travel Group from $7.00 to $9.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Finally, 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 research report on Friday, October 4th.

Global Business Travel Group Price Performance

GBTG stock opened at $9.37 on Friday. 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 debt-to-equity ratio of 1.24, a current ratio of 1.56 and a quick ratio of 1.56. The firm has a market capitalization of $4.41 billion, a PE ratio of -26.03 and a beta of 0.73. The business has a 50 day simple moving average of $8.80 and a 200-day simple moving average of $7.61.

Global Business Travel Group (NYSE:GBTG) last issued its earnings results on Tuesday, November 5th. The company reported ($0.22) earnings per share (EPS) 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 return on equity of 9.70% and a negative net margin of 7.06%. During the same period last year, the business earned ($0.02) earnings per share. Equities research analysts anticipate that Global Business Travel Group, Inc. will post -0.17 earnings per share for the current fiscal year.

Global Business Travel Group announced that its board has approved a stock buyback plan on Tuesday, November 5th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 8.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.

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.