Quest Partners LLC Takes $610,000 Position in Global Business Travel Group, Inc. (NYSE:GBTG)

Quest Partners LLC bought a new stake in shares of Global Business Travel Group, Inc. (NYSE:GBTG) in the 3rd quarter, Holdings Channel.com reports. The firm bought 79,335 shares of the company’s stock, valued at approximately $610,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Amalgamated Bank boosted its stake in shares of Global Business Travel Group by 299.1% during the second quarter. Amalgamated Bank now owns 4,342 shares of the company’s stock valued at $29,000 after purchasing an additional 3,254 shares during the period. Vanguard Group Inc. grew its holdings in Global Business Travel Group by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 971,900 shares of the company’s stock worth $5,841,000 after acquiring an additional 10,446 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of Global Business Travel Group in the second quarter valued at about $108,000. Entropy Technologies LP purchased a new position in shares of Global Business Travel Group in the third quarter valued at about $145,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Global Business Travel Group during the second quarter valued at about $143,000. 82.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Citigroup boosted their price target on Global Business Travel Group from $9.00 to $9.50 and gave the company a “buy” rating in a report on Friday, October 4th. UBS Group assumed coverage on Global Business Travel Group in a research note on Friday. They set a “buy” rating and a $11.00 target price on the stock. Finally, Evercore ISI raised their price target on Global Business Travel Group from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th.

Global Business Travel Group Price Performance

Shares of NYSE GBTG opened at $9.44 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.56 and a quick ratio of 1.56. Global Business Travel Group, Inc. has a 1 year low of $4.49 and a 1 year high of $9.46. The company’s 50-day moving average is $7.91 and its 200 day moving average is $7.03. The stock has a market capitalization of $4.44 billion, a P/E ratio of -26.22 and a beta of 0.63.

Global Business Travel Group (NYSE:GBTG) last posted its earnings results on Tuesday, November 5th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.14). The firm had revenue of $597.00 million for the quarter, compared to analysts’ expectations of $611.89 million. Global Business Travel Group had a negative return on equity of 9.70% and a negative net margin of 7.06%. During the same quarter last year, the company posted ($0.02) EPS. On average, sell-side analysts expect that Global Business Travel Group, Inc. will post -0.17 earnings per share for the current year.

Global Business Travel Group declared that its Board of Directors has approved a stock repurchase plan on Tuesday, November 5th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to reacquire up to 8.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

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