Global Business Travel Group, Inc. (NYSE:GBTG) Shares Purchased by Barclays PLC

Barclays PLC boosted its holdings in Global Business Travel Group, Inc. (NYSE:GBTG) by 362.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 198,673 shares of the company’s stock after buying an additional 155,696 shares during the period. Barclays PLC’s holdings in Global Business Travel Group were worth $1,528,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in shares of Global Business Travel Group by 19.8% in the 3rd 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 lifted its stake in shares of Global Business Travel Group by 21.7% in the 3rd quarter. State Street Corp now owns 1,946,990 shares of the company’s stock valued at $14,972,000 after purchasing an additional 346,540 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Global Business Travel Group by 41.8% in the 3rd 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. Advantage Alpha Capital Partners LP acquired a new position in shares of Global Business Travel Group in the 3rd quarter valued at about $2,077,000. Finally, Rhumbline Advisers lifted its stake in shares of Global Business Travel Group by 419.3% in the 2nd quarter. Rhumbline Advisers now owns 143,883 shares of the company’s stock valued at $950,000 after purchasing an additional 116,175 shares in the last quarter. 82.46% of the stock is owned by institutional investors and hedge funds.

Global Business Travel Group Stock Performance

Shares of NYSE:GBTG opened at $8.60 on Monday. The company has a market cap of $4.05 billion, a P/E ratio of -23.89 and a beta of 0.72. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.56 and a current ratio of 1.56. Global Business Travel Group, Inc. has a one year low of $4.49 and a one year high of $9.60. The business’s 50-day simple moving average is $9.07 and its 200 day simple moving average is $7.79.

Global Business Travel Group (NYSE:GBTG) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.14). Global Business Travel Group had a negative return on equity of 9.70% and a negative net margin of 7.06%. The business had revenue of $597.00 million for the quarter, compared to analysts’ expectations of $611.89 million. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. On average, sell-side analysts forecast 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 of Directors has authorized a share buyback plan on Tuesday, November 5th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to purchase up to 8.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. 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. UBS Group assumed coverage on Global Business Travel Group in a report on Friday, November 22nd. They set a “buy” rating and a $11.00 target price on the stock. Finally, Morgan Stanley raised 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.

Global Business Travel Group 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.