Amalgamated Bank Boosts Stake in Global Business Travel Group, Inc. (NYSE:GBTG)

Amalgamated Bank increased its position in Global Business Travel Group, Inc. (NYSE:GBTG) by 299.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,342 shares of the company’s stock after buying an additional 3,254 shares during the period. Amalgamated Bank’s holdings in Global Business Travel Group were worth $29,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Tidal Investments LLC purchased a new stake in Global Business Travel Group during the first quarter valued at approximately $3,383,000. Rhumbline Advisers raised its position in Global Business Travel Group by 419.3% during the second quarter. Rhumbline Advisers now owns 143,883 shares of the company’s stock valued at $950,000 after purchasing an additional 116,175 shares during the period. Bank of New York Mellon Corp raised its position in Global Business Travel Group by 1,116.6% during the second quarter. Bank of New York Mellon Corp now owns 1,007,861 shares of the company’s stock valued at $6,652,000 after purchasing an additional 925,018 shares during the period. Par Capital Management Inc. raised its position in Global Business Travel Group by 42.1% during the fourth quarter. Par Capital Management Inc. now owns 770,000 shares of the company’s stock valued at $4,966,000 after purchasing an additional 228,149 shares during the period. Finally, Vanguard Group Inc. raised its position in Global Business Travel Group by 1.1% during the first quarter. Vanguard Group Inc. now owns 971,900 shares of the company’s stock valued at $5,841,000 after purchasing an additional 10,446 shares during the period. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on GBTG. Evercore ISI upped their price objective on Global Business Travel Group from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Citigroup increased their price target on Global Business Travel Group from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, August 8th.

Global Business Travel Group Trading Down 1.4 %

Shares of NYSE GBTG opened at $7.39 on Thursday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.65 and a current ratio of 1.65. The business’s 50 day moving average price is $7.06 and its 200-day moving average price is $6.50. Global Business Travel Group, Inc. has a fifty-two week low of $4.49 and a fifty-two week high of $7.79. The company has a market cap of $3.49 billion, a price-to-earnings ratio of -18.94 and a beta of 0.63.

Global Business Travel Group (NYSE:GBTG) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.11. Global Business Travel Group had a negative return on equity of 1.26% and a negative net margin of 1.66%. The firm had revenue of $625.00 million for the quarter, compared to the consensus estimate of $643.97 million. On average, sell-side analysts expect that Global Business Travel Group, Inc. will post -0.08 earnings per share for the current year.

Global Business Travel Group Company Profile

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