Global Business Travel Group, Inc. $GBTG Stock Position Lowered by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its position in Global Business Travel Group, Inc. (NYSE:GBTG) by 19.2% in the first quarter, HoldingsChannel reports. The firm owned 404,820 shares of the company’s stock after selling 95,900 shares during the period. Renaissance Technologies LLC’s holdings in Global Business Travel Group were worth $2,259,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Redwood Capital Management LLC acquired a new stake in Global Business Travel Group during the 3rd quarter valued at $173,347,000. Vanguard Group Inc. boosted its position in shares of Global Business Travel Group by 24.7% in the fourth quarter. Vanguard Group Inc. now owns 13,857,451 shares of the company’s stock worth $106,010,000 after buying an additional 2,744,068 shares during the period. Attestor Capital Ltd purchased a new position in shares of Global Business Travel Group during the fourth quarter valued at $67,917,000. Dimensional Fund Advisors LP raised its position 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 valued at $23,741,000 after buying an additional 936,989 shares during the period. Finally, Geode Capital Management LLC raised its position in Global Business Travel Group by 21.7% during the fourth 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 period. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on GBTG shares. Wall Street Zen lowered Global Business Travel Group from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings upgraded Global Business Travel Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 15th. BTIG Research lowered shares of Global Business Travel Group from a “buy” rating to a “neutral” rating in a research report on Monday, May 4th. Evercore cut shares of Global Business Travel Group from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, Lake Street Capital set a $9.50 price objective on shares of Global Business Travel Group in a research note on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Global Business Travel Group currently has a consensus rating of “Hold” and a consensus target price of $8.90.

Insider Activity at Global Business Travel Group

In related news, insider Eric J. Bock sold 125,030 shares of Global Business Travel Group 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 completion of the sale, the insider owned 871,342 shares of the company’s stock, valued at approximately $8,155,761.12. The trade was a 12.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Andrew George Crawley sold 350,000 shares of the company’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 $3,300,500.00. Following the completion of the sale, the president owned 1,031,838 shares of the company’s stock, valued at $9,730,232.34. This represents a 25.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,275,345 shares of company stock worth $21,330,374 over the last quarter. 5.40% of the stock is currently owned by corporate insiders.

Global Business Travel Group Stock Down 0.1%

GBTG opened at $9.45 on Tuesday. The company has a market capitalization of $4.93 billion, a PE ratio of 55.59 and a beta of 0.93. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.20 and a quick ratio of 1.20. Global Business Travel Group, Inc. has a fifty-two week low of $4.95 and a fifty-two week high of $9.54. The business has a 50-day moving average of $9.40 and a 200-day moving average of $7.57.

Global Business Travel Group (NYSE:GBTG) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.03 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 analyst estimates of $810.60 million. Global Business Travel Group had a return on equity of 2.47% and a net margin of 2.77%.The company’s quarterly revenue was up 37.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.03 EPS. Equities research analysts forecast that Global Business Travel Group, Inc. will post 0.18 EPS for the current fiscal year.

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.