Global Business Travel Group, Inc. (NYSE:GBTG) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in shares of Global Business Travel Group, Inc. (NYSE:GBTG) by 19.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,339,395 shares of the company’s stock after acquiring an additional 386,636 shares during the quarter. Geode Capital Management LLC’s holdings in Global Business Travel Group were worth $17,993,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in shares of Global Business Travel Group by 1,116.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,007,861 shares of the company’s stock worth $6,652,000 after purchasing an additional 925,018 shares during the period. State Street Corp lifted its stake in Global Business Travel Group by 21.7% during the third quarter. State Street Corp now owns 1,946,990 shares of the company’s stock worth $14,972,000 after purchasing an additional 346,540 shares in the last quarter. Advantage Alpha Capital Partners LP purchased a new position in shares of Global Business Travel Group during the third quarter worth $2,077,000. Charles Schwab Investment Management Inc. grew its stake in shares of Global Business Travel Group by 41.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 806,519 shares of the company’s stock valued at $6,202,000 after buying an additional 237,682 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of Global Business Travel Group by 362.3% in the third quarter. Barclays PLC now owns 198,673 shares of the company’s stock valued at $1,528,000 after buying an additional 155,696 shares in the last quarter. 82.46% of the stock is currently owned by institutional investors and hedge funds.

Global Business Travel Group Stock Performance

Shares of Global Business Travel Group stock opened at $9.37 on Friday. The business has a 50-day simple moving average of $8.80 and a 200-day simple moving average of $7.61. 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 one year low of $4.49 and a one year high of $9.60. The company has a market cap of $4.41 billion, a PE ratio of -26.03 and a beta of 0.73.

Global Business Travel Group (NYSE:GBTG) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.14). The firm had revenue of $597.00 million during the quarter, compared to analyst estimates 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 quarter in the previous year, the business posted ($0.02) earnings per share. On average, equities research analysts forecast 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 approved a stock buyback plan on Tuesday, November 5th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 8.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GBTG shares. Citigroup lifted their target price on Global Business Travel Group from $9.00 to $9.50 and gave the company a “buy” rating in a research report on Friday, October 4th. Morgan Stanley lifted their price objective on shares of Global Business Travel Group from $7.00 to $9.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Finally, UBS Group began coverage on shares of 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.

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.