Global Business Travel Group, Inc. $GBTG Position Decreased by Anchorage Capital Advisors L.P.

Anchorage Capital Advisors L.P. decreased its position in Global Business Travel Group, Inc. (NYSE:GBTG) by 50.0% during the 4th quarter, Holdings Channel reports. The fund owned 3,593,635 shares of the company’s stock after selling 3,593,623 shares during the quarter. Global Business Travel Group comprises about 3.4% of Anchorage Capital Advisors L.P.’s holdings, making the stock its 2nd biggest position. Anchorage Capital Advisors L.P.’s holdings in Global Business Travel Group were worth $27,491,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quantbot Technologies LP purchased a new stake in shares of Global Business Travel Group in the third quarter valued at about $26,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Global Business Travel Group in the fourth quarter valued at about $32,000. Advisory Services Network LLC purchased a new stake in shares of Global Business Travel Group in the third quarter valued at about $61,000. Russell Investments Group Ltd. boosted its holdings in shares of Global Business Travel Group by 1,238.9% in the third quarter. Russell Investments Group Ltd. now owns 9,024 shares of the company’s stock valued at $73,000 after acquiring an additional 8,350 shares in the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new stake in shares of Global Business Travel Group in the third quarter valued at about $81,000. Hedge funds and other institutional investors own 82.46% of the company’s stock.

Global Business Travel Group Stock Up 0.2%

Shares of NYSE GBTG opened at $9.38 on Thursday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.90. Global Business Travel Group, Inc. has a 52 week low of $4.95 and a 52 week high of $9.54. The firm has a 50-day moving average price of $8.10 and a 200 day moving average price of $7.14. The stock has a market capitalization of $4.89 billion, a price-to-earnings ratio of 55.15 and a beta of 0.93.

Global Business Travel Group (NYSE:GBTG) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.05 by $0.05. The firm had revenue of $840.00 million during the quarter, compared to analysts’ expectations of $814.55 million. Global Business Travel Group had a net margin of 2.93% and a return on equity of 2.51%. The business’s revenue for the quarter was up 35.3% compared to the same quarter last year. Equities research analysts anticipate that Global Business Travel Group, Inc. will post 0.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GBTG. UBS Group lowered their target price on shares of Global Business Travel Group from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Citigroup reduced their price objective on shares of Global Business Travel Group from $11.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday, March 12th. Morgan Stanley reduced their price objective on shares of Global Business Travel Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Monday, March 9th. Deutsche Bank Aktiengesellschaft set a $8.20 price objective on shares of Global Business Travel Group in a research note on Wednesday, March 11th. Finally, Weiss Ratings upgraded shares of Global Business Travel Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Global Business Travel Group presently has an average rating of “Hold” and an average price target of $8.90.

Insider Activity at Global Business Travel Group

In other Global Business Travel Group news, insider Evan Konwiser sold 356,222 shares of Global Business Travel Group stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $9.34, for a total transaction of $3,327,113.48. Following the completion of the transaction, the insider owned 502,641 shares in the company, valued at approximately $4,694,666.94. The trade was a 41.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Karen A. Williams sold 10,000 shares of Global Business Travel Group stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $9.35, for a total transaction of $93,500.00. Following the transaction, the chief financial officer owned 596,157 shares of the company’s stock, valued at approximately $5,574,067.95. The trade was a 1.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,572,683 shares of company stock valued at $14,704,271 in the last quarter. 5.40% of the stock is owned by corporate insiders.

Global Business Travel Group Profile

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.