12,720 Shares in Global Business Travel Group, Inc. (NYSE:GBTG) Purchased by Verition Fund Management LLC

Verition Fund Management LLC bought a new stake in Global Business Travel Group, Inc. (NYSE:GBTG) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 12,720 shares of the company’s stock, valued at approximately $98,000.

Several other hedge funds also recently made changes to their positions in the business. Amalgamated Bank boosted its position in Global Business Travel Group by 299.1% during the second quarter. Amalgamated Bank now owns 4,342 shares of the company’s stock valued at $29,000 after purchasing an additional 3,254 shares during the last quarter. Principal Financial Group Inc. acquired a new position in Global Business Travel Group during the second quarter worth $108,000. Entropy Technologies LP bought a new stake in Global Business Travel Group during the third quarter worth $145,000. Susquehanna Fundamental Investments LLC bought a new stake in Global Business Travel Group during the second quarter worth $143,000. Finally, Jag Capital Management LLC bought a new position in shares of Global Business Travel Group in the 3rd quarter valued at about $171,000. 82.46% of the stock is owned by institutional investors.

Global Business Travel Group Stock Up 1.6 %

Shares of GBTG opened at $9.13 on Wednesday. The firm has a market cap of $4.29 billion, a P/E ratio of -25.35 and a beta of 0.73. 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 52 week low of $4.49 and a 52 week high of $9.60. The firm’s 50-day simple moving average is $8.52 and its 200 day simple moving average is $7.45.

Global Business Travel Group (NYSE:GBTG) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.22) 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 firm had revenue of $597.00 million during the quarter, compared to analyst estimates of $611.89 million. During the same period in the prior year, the company earned ($0.02) earnings per share. On average, analysts forecast 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 approved a stock buyback program on Tuesday, November 5th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 8.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

GBTG has been the topic of several recent analyst reports. Morgan Stanley boosted their price objective on shares of Global Business Travel Group from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Citigroup lifted their target price on Global Business Travel Group from $9.00 to $9.50 and gave the stock a “buy” rating in a research note on Friday, October 4th. Finally, UBS Group began 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.

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.