Vanguard Group Inc. Purchases 2,744,068 Shares of Global Business Travel Group, Inc. $GBTG

Vanguard Group Inc. lifted its position in Global Business Travel Group, Inc. (NYSE:GBTG) by 24.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,857,451 shares of the company’s stock after acquiring an additional 2,744,068 shares during the quarter. Vanguard Group Inc. owned approximately 2.65% of Global Business Travel Group worth $106,010,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Monarch Alternative Capital LP bought a new position in Global Business Travel Group during the third quarter valued at about $57,680,000. Anchorage Capital Advisors L.P. bought a new position in Global Business Travel Group during the third quarter valued at about $58,073,000. Boundary Creek Advisors LP bought a new position in Global Business Travel Group during the third quarter valued at about $22,911,000. SG Americas Securities LLC purchased a new stake in Global Business Travel Group during the fourth quarter valued at about $1,667,000. Finally, Ballast Asset Management LP lifted its holdings in Global Business Travel Group by 27.2% during the third quarter. Ballast Asset Management LP now owns 505,999 shares of the company’s stock valued at $4,088,000 after purchasing an additional 108,077 shares during the last quarter. Institutional investors own 82.46% of the company’s stock.

Global Business Travel Group Price Performance

Shares of NYSE:GBTG opened at $9.40 on Wednesday. Global Business Travel Group, Inc. has a fifty-two week low of $4.95 and a fifty-two week high of $9.54. The business has a 50-day simple moving average of $6.11 and a two-hundred day simple moving average of $6.82. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market cap of $4.92 billion, a price-to-earnings ratio of 55.26 and a beta of 0.75.

Global Business Travel Group (NYSE:GBTG) last issued its earnings results on Monday, May 4th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. Global Business Travel Group had a return on equity of 2.59% and a net margin of 2.93%.The business had revenue of $840.00 million during the quarter, compared to analyst estimates of $814.55 million. The business’s revenue for the quarter was up 35.3% on a year-over-year basis. On average, analysts expect that Global Business Travel Group, Inc. will post 0.18 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GBTG. Lake Street Capital set a $9.50 price target on shares of Global Business Travel Group in a report on Monday, May 4th. Citigroup decreased their price objective on shares of Global Business Travel Group from $11.00 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, March 12th. BTIG Research cut shares of Global Business Travel Group from a “buy” rating to a “neutral” rating in a report on Monday, May 4th. Evercore cut shares of Global Business Travel Group from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, Wall Street Zen cut shares of Global Business Travel Group from a “buy” rating to a “hold” rating in a report on Saturday. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $8.90.

About Global Business Travel Group

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.