First Trust Advisors LP Lowers Position in Global Business Travel Group, Inc. $GBTG

First Trust Advisors LP trimmed its holdings in shares of Global Business Travel Group, Inc. (NYSE:GBTG) by 29.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 407,016 shares of the company’s stock after selling 168,968 shares during the period. First Trust Advisors LP owned about 0.08% of Global Business Travel Group worth $2,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of GBTG. AQR Capital Management LLC raised its stake 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 worth $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% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,576 shares of the company’s stock valued at $541,000 after acquiring an additional 3,238 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Global Business Travel Group by 66.6% in the 1st 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 period. Creative Planning bought a new position in shares of Global Business Travel Group in the 2nd quarter worth $67,000. Finally, Legal & General Group Plc raised its position in shares of Global Business Travel Group by 4.0% in 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 in the last quarter. Institutional investors own 82.46% of the company’s stock.

Global Business Travel Group Price Performance

Shares of GBTG opened at $9.44 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.20 and a quick ratio of 1.18. The company’s fifty day moving average price is $9.39 and its 200-day moving average price is $7.55. Global Business Travel Group, Inc. has a 1-year low of $4.95 and a 1-year high of $9.54. The firm has a market capitalization of $4.92 billion, a PE ratio of 55.50 and a beta of 0.93.

Global Business Travel Group (NYSE:GBTG) last issued its earnings results on Tuesday, August 4th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). The firm had revenue of $870.00 million during the quarter, compared to analysts’ expectations of $810.60 million. Global Business Travel Group had a return on equity of 2.47% and a net margin of 2.77%.The business’s revenue was up 37.9% on a year-over-year basis. During the same quarter last year, the business earned $0.03 EPS. On average, equities research analysts predict that Global Business Travel Group, Inc. will post 0.18 EPS for the current year.

Analyst Upgrades and Downgrades

GBTG has been the topic of a number of recent research reports. Wall Street Zen downgraded Global Business Travel Group from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Lake Street Capital set a $9.50 target price on shares of Global Business Travel Group in a report on Monday, May 4th. Evercore lowered shares of Global Business Travel Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Weiss Ratings upgraded shares of Global Business Travel Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Finally, BTIG Research downgraded shares of Global Business Travel Group from a “buy” rating to a “neutral” rating in a research report on Monday, May 4th. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $8.90.

Insiders Place Their Bets

In related news, President Andrew George Crawley sold 350,000 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $9.43, for a total transaction of $3,300,500.00. Following the sale, the president directly owned 1,031,838 shares of the company’s stock, valued at $9,730,232.34. This trade represents a 25.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eric J. Bock sold 125,030 shares of Global Business Travel Group stock in a transaction that occurred 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 owned 871,342 shares of the company’s stock, valued at approximately $8,155,761.12. This represents a 12.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 2,275,345 shares of company stock worth $21,330,374. 5.40% of the stock is currently owned by company 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.