Victory Capital Management Inc. Cuts Stock Holdings in Global Business Travel Group, Inc. (NYSE:GBTG)

Victory Capital Management Inc. decreased its holdings in shares of Global Business Travel Group, Inc. (NYSE:GBTG) by 6.8% in the 4th quarter, Holdings Channel reports. The firm owned 21,771 shares of the company’s stock after selling 1,588 shares during the period. Victory Capital Management Inc.’s holdings in Global Business Travel Group were worth $202,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in Global Business Travel Group by 41.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 806,519 shares of the company’s stock worth $6,202,000 after buying an additional 237,682 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Global Business Travel Group in the 3rd quarter worth approximately $984,000. Barclays PLC lifted its position in Global Business Travel Group by 362.3% in the 3rd quarter. Barclays PLC now owns 198,673 shares of the company’s stock worth $1,528,000 after buying an additional 155,696 shares during the last quarter. State Street Corp lifted its position in Global Business Travel Group by 21.7% in the 3rd quarter. State Street Corp now owns 1,946,990 shares of the company’s stock worth $14,972,000 after buying an additional 346,540 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Global Business Travel Group by 19.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,339,395 shares of the company’s stock worth $17,993,000 after buying an additional 386,636 shares during the last quarter. Institutional investors own 82.46% of the company’s stock.

Global Business Travel Group Stock Performance

Shares of GBTG stock opened at $7.58 on Monday. 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 fifty-two week low of $5.30 and a fifty-two week high of $9.60. The stock has a 50 day moving average price of $8.51 and a two-hundred day moving average price of $8.42. The company has a market capitalization of $3.63 billion, a P/E ratio of -21.06 and a beta of 0.72.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GBTG. Morgan Stanley boosted their target price on Global Business Travel Group from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. BTIG Research assumed coverage on Global Business Travel Group in a research report on Tuesday, March 18th. They issued a “buy” rating and a $10.00 price objective for the company. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.90.

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.