Carronade Capital Management LP Sells 906,825 Shares of Global Business Travel Group, Inc. $GBTG

Carronade Capital Management LP decreased its holdings in shares of Global Business Travel Group, Inc. (NYSE:GBTG) by 34.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,705,039 shares of the company’s stock after selling 906,825 shares during the quarter. Global Business Travel Group accounts for approximately 0.3% of Carronade Capital Management LP’s portfolio, making the stock its 15th largest position. Carronade Capital Management LP owned about 0.36% of Global Business Travel Group worth $13,777,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Quantbot Technologies LP bought a new stake in Global Business Travel Group during the third quarter valued at approximately $26,000. CWM LLC increased its holdings in shares of Global Business Travel Group by 21.1% in the 3rd quarter. CWM LLC now owns 7,630 shares of the company’s stock worth $62,000 after buying an additional 1,332 shares during the last quarter. Creative Planning bought a new position in shares of Global Business Travel Group in the 2nd quarter worth $67,000. Quadrature Capital Ltd purchased a new stake in shares of Global Business Travel Group during the 2nd quarter valued at $71,000. Finally, Russell Investments Group Ltd. raised its position in shares of Global Business Travel Group by 1,238.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 9,024 shares of the company’s stock valued at $73,000 after buying an additional 8,350 shares in the last quarter. 82.46% of the stock is currently owned by institutional investors.

Global Business Travel Group Price Performance

GBTG stock opened at $5.57 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.14. Global Business Travel Group, Inc. has a 52 week low of $4.95 and a 52 week high of $8.64. The firm’s fifty day moving average is $6.37 and its 200 day moving average is $7.34. The firm has a market cap of $2.91 billion, a P/E ratio of 24.20 and a beta of 0.77.

Global Business Travel Group (NYSE:GBTG) last posted its quarterly earnings results on Monday, March 9th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.04. Global Business Travel Group had a net margin of 4.01% and a return on equity of 6.20%. The business had revenue of $792.00 million during the quarter, compared to the consensus estimate of $789.48 million. Research analysts predict that Global Business Travel Group, Inc. will post -0.17 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Morgan Stanley cut their target price on shares of Global Business Travel Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Monday, March 9th. UBS Group lowered their price target on Global Business Travel Group from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday. Citigroup dropped their price target on Global Business Travel Group from $11.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday. Weiss Ratings upgraded Global Business Travel Group from a “sell (d)” rating to a “hold (c)” rating in a report on Thursday. Finally, Wall Street Zen upgraded Global Business Travel Group from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.40.

Global Business Travel Group Profile

Global Business Travel Group (NYSE: GBTG), formerly known as American Express Global Business Travel, is a provider of end-to-end corporate travel management solutions. The company helps organizations plan, book and manage business travel, meetings and events through an integrated suite of services. Its offerings include traveller support, expense management, virtual and in-person meeting services, data analytics and duty-of-care solutions tailored to enterprise customers.

Operating under a global network of offices and digital platforms, Global Business Travel Group serves clients across the Americas, EMEA and Asia Pacific.