Monarch Alternative Capital LP Increases Position in Global Business Travel Group, Inc. $GBTG

Monarch Alternative Capital LP raised its stake in shares of Global Business Travel Group, Inc. (NYSE:GBTG) by 9.3% in the first quarter, Holdings Channel.com reports. The firm owned 7,800,000 shares of the company’s stock after buying an additional 661,418 shares during the period. Global Business Travel Group comprises approximately 2.7% of Monarch Alternative Capital LP’s investment portfolio, making the stock its 3rd biggest holding. Monarch Alternative Capital LP’s holdings in Global Business Travel Group were worth $43,524,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Redwood Capital Management LLC purchased a new stake in shares of Global Business Travel Group in the third quarter worth approximately $173,347,000. Vanguard Group Inc. boosted its position in shares of Global Business Travel Group by 24.7% during the fourth quarter. Vanguard Group Inc. now owns 13,857,451 shares of the company’s stock valued at $106,010,000 after buying an additional 2,744,068 shares during the last quarter. Attestor Capital Ltd bought a new stake in Global Business Travel Group during the fourth quarter worth $67,917,000. Dimensional Fund Advisors LP grew its holdings in Global Business Travel Group by 28.2% during the first quarter. Dimensional Fund Advisors LP now owns 4,255,603 shares of the company’s stock worth $23,741,000 after buying an additional 936,989 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Global Business Travel Group by 21.7% in the 4th quarter. Geode Capital Management LLC now owns 2,894,872 shares of the company’s stock valued at $22,150,000 after buying an additional 516,047 shares during the last quarter. 82.46% of the stock is owned by institutional investors.

Insider Activity at Global Business Travel Group

In related news, insider Evan Konwiser sold 356,222 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $9.34, for a total value of $3,327,113.48. Following the transaction, the insider owned 502,641 shares in the company, valued at approximately $4,694,666.94. This represents a 41.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Peter Bush sold 17,500 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $9.36, for a total value of $163,800.00. Following the transaction, the director directly owned 120,526 shares of the company’s stock, valued at approximately $1,128,123.36. This trade represents a 12.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,572,683 shares of company stock worth $14,704,271 over the last 90 days. Corporate insiders own 5.40% of the company’s stock.

Global Business Travel Group Trading Up 0.2%

NYSE GBTG opened at $9.43 on Tuesday. The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of 55.44 and a beta of 0.93. Global Business Travel Group, Inc. has a one year low of $4.95 and a one year high of $9.54. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.18 and a quick ratio of 1.18. The business’s fifty day moving average is $9.39 and its 200-day moving average is $7.45.

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

Analysts Set New Price Targets

Several brokerages have weighed in on GBTG. Bank of America initiated coverage on Global Business Travel Group in a research note on Tuesday, April 7th. They set a “neutral” rating and a $6.50 price objective on the stock. Wall Street Zen lowered shares of Global Business Travel Group from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. BTIG Research downgraded shares of Global Business Travel Group from a “buy” rating to a “neutral” rating in a report on Monday, May 4th. Lake Street Capital set a $9.50 price target on shares of Global Business Travel Group in a research report on Monday, May 4th. Finally, Evercore cut shares of Global Business Travel Group from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $8.90.

Global Business Travel Group Company 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.