Allspring Global Investments Holdings LLC Purchases Shares of 48,108 Global Business Travel Group, Inc. (NYSE:GBTG)

Allspring Global Investments Holdings LLC purchased a new stake in shares of Global Business Travel Group, Inc. (NYSE:GBTG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 48,108 shares of the company’s stock, valued at approximately $446,000.

A number of other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in Global Business Travel Group by 2.2% during the third quarter. JPMorgan Chase & Co. now owns 101,127 shares of the company’s stock valued at $778,000 after purchasing an additional 2,182 shares in the last quarter. PB Investment Partners L.P. raised its position in Global Business Travel Group by 0.6% during the fourth quarter. PB Investment Partners L.P. now owns 613,264 shares of the company’s stock valued at $5,691,000 after purchasing an additional 3,405 shares in the last quarter. SG Americas Securities LLC raised its position in Global Business Travel Group by 17.2% during the fourth quarter. SG Americas Securities LLC now owns 56,807 shares of the company’s stock valued at $527,000 after purchasing an additional 8,348 shares in the last quarter. Verition Fund Management LLC purchased a new stake in Global Business Travel Group during the third quarter valued at about $98,000. Finally, The Manufacturers Life Insurance Company raised its position in Global Business Travel Group by 31.7% during the third quarter. The Manufacturers Life Insurance Company now owns 71,901 shares of the company’s stock valued at $553,000 after purchasing an additional 17,313 shares in the last quarter. Hedge funds and other institutional investors own 82.46% of the company’s stock.

Global Business Travel Group Stock Up 0.1 %

GBTG opened at $8.56 on Tuesday. The company has a market cap of $4.03 billion, a P/E ratio of -23.76 and a beta of 0.71. The business’s 50-day moving average price is $9.01 and its 200-day moving average price is $8.30. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.24. Global Business Travel Group, Inc. has a 12 month low of $4.49 and a 12 month high of $9.60.

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

Analysts Set New Price Targets

Several research firms have recently commented on GBTG. Morgan Stanley lifted their price objective on Global Business Travel Group from $7.00 to $9.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. UBS Group began coverage on Global Business Travel Group in a report on Friday, November 22nd. They issued a “buy” rating and a $11.00 price objective 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.