Principal Financial Group Inc. Lowers Holdings in Global Business Travel Group, Inc. (NYSE:GBTG)

Principal Financial Group Inc. reduced its position in shares of Global Business Travel Group, Inc. (NYSE:GBTG) by 30.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,337 shares of the company’s stock after selling 4,961 shares during the quarter. Principal Financial Group Inc.’s holdings in Global Business Travel Group were worth $87,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in GBTG. Geode Capital Management LLC lifted its holdings in shares of Global Business Travel Group by 19.8% during the third quarter. Geode Capital Management LLC now owns 2,339,395 shares of the company’s stock valued at $17,993,000 after purchasing an additional 386,636 shares in the last quarter. State Street Corp boosted its holdings in shares of Global Business Travel Group by 21.7% during 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 holdings 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 acquiring an additional 925,018 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Global Business Travel Group by 41.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 806,519 shares of the company’s stock worth $6,202,000 after acquiring an additional 237,682 shares during the period. Finally, Advantage Alpha Capital Partners LP bought a new position in Global Business Travel Group during the third quarter valued at approximately $2,077,000. Hedge funds and other institutional investors own 82.46% of the company’s stock.

Global Business Travel Group Price Performance

NYSE GBTG opened at $8.88 on Wednesday. The business’s fifty day moving average is $9.01 and its 200 day moving average is $7.74. Global Business Travel Group, Inc. has a fifty-two week low of $4.49 and a fifty-two week high of $9.60. 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 company has a market capitalization of $4.18 billion, a PE ratio of -24.67 and a beta of 0.72.

Global Business Travel Group (NYSE:GBTG) last announced its quarterly earnings data 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). Global Business Travel Group had a negative net margin of 7.06% and a negative return on equity of 9.70%. The company had revenue of $597.00 million for the quarter, compared to the consensus estimate of $611.89 million. During the same quarter last year, the firm posted ($0.02) earnings per share. Sell-side analysts predict that Global Business Travel Group, Inc. will post -0.17 earnings per share for the current year.

Global Business Travel Group declared that its Board of Directors has authorized a stock repurchase program on Tuesday, November 5th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to buy up to 8.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

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

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.