Entropy Technologies LP Takes $145,000 Position in Global Business Travel Group, Inc. (NYSE:GBTG)

Entropy Technologies LP bought a new stake in Global Business Travel Group, Inc. (NYSE:GBTG) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 18,800 shares of the company’s stock, valued at approximately $145,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Bank of New York Mellon Corp lifted its position in Global Business Travel Group by 1,116.6% in 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 buying an additional 925,018 shares during the last quarter. Vanguard Group Inc. raised its position in Global Business Travel Group by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 971,900 shares of the company’s stock worth $5,841,000 after purchasing an additional 10,446 shares during the period. Tidal Investments LLC bought a new stake in Global Business Travel Group in the first quarter worth $3,383,000. Rhumbline Advisers boosted its position in Global Business Travel Group by 419.3% during the second quarter. Rhumbline Advisers now owns 143,883 shares of the company’s stock valued at $950,000 after buying an additional 116,175 shares during the period. Finally, Ionic Capital Management LLC grew its stake in shares of Global Business Travel Group by 480.1% during the first quarter. Ionic Capital Management LLC now owns 131,245 shares of the company’s stock valued at $789,000 after buying an additional 108,619 shares during the last quarter. Hedge funds and other institutional investors own 82.46% of the company’s stock.

Global Business Travel Group Stock Performance

Shares of NYSE:GBTG opened at $8.88 on Monday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.24. The company has a 50-day moving average price of $7.72 and a 200-day moving average price of $6.94. The company has a market cap of $4.20 billion, a price-to-earnings ratio of -24.67 and a beta of 0.63. Global Business Travel Group, Inc. has a 12 month low of $4.49 and a 12 month high of $9.05.

Global Business Travel Group (NYSE:GBTG) last released its quarterly 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 business had revenue of $597.00 million for the quarter, compared to the consensus estimate 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 in the previous year, the company earned ($0.02) EPS. As a group, equities analysts anticipate that Global Business Travel Group, Inc. will post -0.17 EPS for the current year.

Global Business Travel Group announced that its board has authorized a stock repurchase plan on Tuesday, November 5th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 8.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages recently weighed in on GBTG. Evercore ISI increased their target price on Global Business Travel Group from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Citigroup increased their price objective on Global Business Travel Group from $9.00 to $9.50 and gave the company a “buy” rating in a research note on Friday, October 4th.

Global Business Travel Group Company 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.