Carmignac Gestion Takes Position in Global Business Travel Group, Inc. $GBTG

Carmignac Gestion bought a new position in Global Business Travel Group, Inc. (NYSE:GBTG) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 316,463 shares of the company’s stock, valued at approximately $2,972,000.

Other hedge funds have also made changes to their positions in the company. AQR Capital Management LLC boosted its position in Global Business Travel Group by 169.9% in the first quarter. AQR Capital Management LLC now owns 64,060 shares of the company’s stock valued at $465,000 after buying an additional 40,328 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Global Business Travel Group by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,576 shares of the company’s stock worth $541,000 after buying an additional 3,238 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Global Business Travel Group by 66.6% in the first quarter. Goldman Sachs Group Inc. now owns 736,472 shares of the company’s stock valued at $5,347,000 after acquiring an additional 294,527 shares during the last quarter. Creative Planning acquired a new position in shares of Global Business Travel Group in the 2nd quarter worth approximately $67,000. Finally, Legal & General Group Plc grew its position in Global Business Travel Group by 4.0% during the 2nd quarter. Legal & General Group Plc now owns 112,365 shares of the company’s stock worth $708,000 after acquiring an additional 4,308 shares during the last quarter. Institutional investors and hedge funds own 82.46% of the company’s stock.

Global Business Travel Group Price Performance

Shares of NYSE GBTG traded up $0.01 during trading on Tuesday, reaching $9.48. The company had a trading volume of 891,872 shares, compared to its average volume of 2,528,322. Global Business Travel Group, Inc. has a 52 week low of $4.95 and a 52 week high of $9.56. The stock has a market cap of $4.95 billion, a PE ratio of 55.79 and a beta of 0.93. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.20 and a current ratio of 1.20. The business’s 50 day moving average price is $9.44 and its 200-day moving average price is $8.05.

Global Business Travel Group (NYSE:GBTG) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.03). The company had revenue of $870.00 million for the quarter, compared to the consensus estimate of $810.60 million. Global Business Travel Group had a net margin of 2.77% and a return on equity of 2.47%. Global Business Travel Group’s revenue for the quarter was up 37.9% compared to the same quarter last year. During the same period last year, the company earned $0.03 earnings per share.

Insider Transactions at Global Business Travel Group

In other news, CFO Karen A. Williams sold 20,000 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $9.43, for a total transaction of $188,600.00. Following the completion of the sale, the chief financial officer owned 548,257 shares in the company, valued at $5,170,063.51. The trade was a 3.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Eric J. Bock sold 125,030 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $9.36, for a total value of $1,170,280.80. Following the transaction, the insider directly owned 871,342 shares in the company, valued at $8,155,761.12. This trade represents a 12.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,567,675 shares of company stock worth $14,723,450 in the last quarter. 5.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Global Business Travel Group in a research report on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $8.90.

About Global Business Travel Group

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.