Handelsbanken Fonder AB Takes Position in Global Business Travel Group, Inc. (NYSE:GBTG)

Handelsbanken Fonder AB purchased a new stake in shares of Global Business Travel Group, Inc. (NYSE:GBTG) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 19,600 shares of the company’s stock, valued at approximately $182,000.

Several other large investors have also recently added to or reduced their stakes in GBTG. Charles Schwab Investment Management Inc. lifted its position 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 worth $6,202,000 after buying an additional 237,682 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Global Business Travel Group in the third quarter worth about $984,000. Barclays PLC boosted its stake in 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 acquiring an additional 155,696 shares during the period. State Street Corp grew its holdings in shares of 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 valued at $14,972,000 after purchasing an additional 346,540 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Global Business Travel Group by 19.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,339,395 shares of the company’s stock worth $17,993,000 after purchasing an additional 386,636 shares during the period. 82.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GBTG shares. Morgan Stanley boosted 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. UBS Group initiated 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.

Global Business Travel Group Stock Performance

Shares of GBTG stock opened at $8.51 on Tuesday. Global Business Travel Group, Inc. has a 12-month low of $4.49 and a 12-month 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 $4.00 billion, a price-to-earnings ratio of -23.64 and a beta of 0.71. The business has a 50 day simple moving average of $8.92 and a 200 day simple moving average of $8.35.

Global Business Travel Group declared that its board has initiated a stock buyback program on Tuesday, November 5th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to buy up to 8.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is 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.