Barclays PLC Purchases 155,696 Shares of Global Business Travel Group, Inc. (NYSE:GBTG)

Barclays PLC grew its position in shares of Global Business Travel Group, Inc. (NYSE:GBTG) by 362.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 198,673 shares of the company’s stock after buying an additional 155,696 shares during the quarter. Barclays PLC’s holdings in Global Business Travel Group were worth $1,528,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp raised its holdings in shares of 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 acquiring an additional 925,018 shares in the last quarter. Principal Financial Group Inc. purchased a new position in Global Business Travel Group during the 2nd quarter valued at $108,000. Rhumbline Advisers raised its holdings in Global Business Travel Group by 419.3% in the 2nd quarter. Rhumbline Advisers now owns 143,883 shares of the company’s stock worth $950,000 after purchasing an additional 116,175 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Global Business Travel Group in the 2nd quarter worth about $147,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Global Business Travel Group by 595.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 114,695 shares of the company’s stock valued at $757,000 after purchasing an additional 98,213 shares in the last quarter. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GBTG has been the subject of a number of research reports. UBS Group began coverage on shares of Global Business Travel Group in a research note on Friday, November 22nd. They issued a “buy” rating and a $11.00 price target for the company. Citigroup increased their target price on Global Business Travel Group from $9.00 to $9.50 and gave the stock a “buy” rating in a research report on Friday, October 4th. Finally, Morgan Stanley raised their target price on Global Business Travel Group from $7.00 to $9.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th.

Global Business Travel Group Trading Down 2.0 %

Shares of NYSE GBTG opened at $9.37 on Friday. Global Business Travel Group, Inc. has a 1 year low of $4.49 and a 1 year high of $9.60. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.56 and a quick ratio of 1.56. The firm has a 50-day moving average of $8.80 and a 200 day moving average of $7.61. The stock has a market cap of $4.41 billion, a P/E ratio of -26.03 and a beta of 0.73.

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

Global Business Travel Group declared that its board has initiated a stock repurchase program on Tuesday, November 5th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to buy up to 8.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Global Business Travel Group 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.