Global Business Travel Group (NYSE:GBTG) Shares Gap Up to $5.97

Global Business Travel Group, Inc. (NYSE:GBTG)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $5.97, but opened at $6.19. Global Business Travel Group shares last traded at $6.19, with a volume of 210,169 shares traded.

Analyst Ratings Changes

Separately, Citigroup raised Global Business Travel Group from a “neutral” rating to a “buy” rating and raised their price target for the stock from $7.50 to $8.00 in a research note on Friday, December 15th.

Global Business Travel Group Trading Down 1.8 %

The business has a 50 day simple moving average of $5.81 and a 200-day simple moving average of $5.75. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of -14.63 and a beta of 0.64. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 1.12.

Hedge Funds Weigh In On Global Business Travel Group

A number of large investors have recently modified their holdings of GBTG. Tower Research Capital LLC TRC raised its holdings in shares of Global Business Travel Group by 53.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,650 shares of the company’s stock worth $43,000 after purchasing an additional 2,323 shares during the period. Barclays PLC purchased a new stake in shares of Global Business Travel Group during the 2nd quarter valued at about $47,000. Mariner LLC purchased a new stake in shares of Global Business Travel Group during the 3rd quarter valued at about $65,000. Citigroup Inc. purchased a new stake in shares of Global Business Travel Group during the 2nd quarter valued at about $69,000. Finally, Credit Suisse AG purchased a new stake in shares of Global Business Travel Group during the 2nd quarter valued at about $69,000. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

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 including airlines, hotels, ground transportation, and aggregators; and third-party travel agencies.