28,504 Shares in Global Business Travel Group, Inc. (NYSE:GBTG) Purchased by Intech Investment Management LLC

Intech Investment Management LLC acquired a new stake in Global Business Travel Group, Inc. (NYSE:GBTG) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 28,504 shares of the company’s stock, valued at approximately $219,000.

Several other large investors have also made changes to their positions in the business. Bank of New York Mellon Corp boosted its position in Global Business Travel Group by 1,116.6% during the second quarter. Bank of New York Mellon Corp now owns 1,007,861 shares of the company’s stock worth $6,652,000 after acquiring an additional 925,018 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Global Business Travel Group by 419.3% during the 2nd quarter. Rhumbline Advisers now owns 143,883 shares of the company’s stock worth $950,000 after purchasing an additional 116,175 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Global Business Travel Group by 595.9% in the second quarter. Dimensional Fund Advisors LP now owns 114,695 shares of the company’s stock valued at $757,000 after purchasing an additional 98,213 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Global Business Travel Group by 431.2% in the second quarter. Renaissance Technologies LLC now owns 105,700 shares of the company’s stock valued at $698,000 after purchasing an additional 85,800 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Global Business Travel Group in the third quarter valued at approximately $610,000. 82.46% of the stock is owned by institutional investors and hedge funds.

Global Business Travel Group Price Performance

GBTG stock opened at $9.45 on Friday. Global Business Travel Group, Inc. has a fifty-two week low of $4.49 and a fifty-two week high of $9.60. The company’s 50 day moving average price is $8.26 and its 200 day moving average price is $7.25. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.56 and a current ratio of 1.56. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of -26.25 and a beta of 0.73.

Global Business Travel Group (NYSE:GBTG) last posted its earnings results on Tuesday, November 5th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.14). The company had revenue of $597.00 million during the quarter, compared to analysts’ expectations of $611.89 million. Global Business Travel Group had a negative net margin of 7.06% and a negative return on equity of 9.70%. During the same period last year, the business earned ($0.02) earnings per share. On average, equities research analysts anticipate that Global Business Travel Group, Inc. will post -0.17 EPS for the current fiscal year.

Global Business Travel Group declared that its Board of Directors has initiated 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 repurchase up to 8.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

GBTG has been the subject of a number of analyst reports. Citigroup upped their price objective on shares of Global Business Travel Group from $9.00 to $9.50 and gave the company a “buy” rating in a report on Friday, October 4th. UBS Group started coverage on Global Business Travel Group in a research note on Friday, November 22nd. They set a “buy” rating and a $11.00 target price for the company.

Global Business Travel Group 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.