Ballast Asset Management LP Sells 12,932 Shares of Global Business Travel Group, Inc. (NYSE:GBTG)

Ballast Asset Management LP decreased its position in shares of Global Business Travel Group, Inc. (NYSE:GBTG) by 3.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 392,366 shares of the company’s stock after selling 12,932 shares during the quarter. Global Business Travel Group comprises approximately 1.9% of Ballast Asset Management LP’s investment portfolio, making the stock its 24th biggest holding. Ballast Asset Management LP’s holdings in Global Business Travel Group were worth $3,638,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in Global Business Travel Group by 19.8% in the third quarter. Geode Capital Management LLC now owns 2,339,395 shares of the company’s stock worth $17,993,000 after purchasing an additional 386,636 shares during the period. State Street Corp increased its position in shares of Global Business Travel Group by 21.7% in the 3rd quarter. State Street Corp now owns 1,946,990 shares of the company’s stock valued at $14,972,000 after buying an additional 346,540 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Global Business Travel Group by 45.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,234,252 shares of the company’s stock worth $11,454,000 after buying an additional 384,560 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Global Business Travel Group by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 812,242 shares of the company’s stock worth $7,538,000 after acquiring an additional 5,723 shares in the last quarter. Finally, PB Investment Partners L.P. grew its stake in Global Business Travel Group by 0.6% in the fourth quarter. PB Investment Partners L.P. now owns 613,264 shares of the company’s stock valued at $5,691,000 after acquiring an additional 3,405 shares during the period. Institutional investors and hedge funds own 82.46% of the company’s stock.

Global Business Travel Group Price Performance

GBTG stock opened at $7.27 on Tuesday. The stock has a 50-day moving average price of $8.34 and a two-hundred day moving average price of $8.43. Global Business Travel Group, Inc. has a 1 year low of $5.30 and a 1 year high of $9.60. The stock has a market cap of $3.48 billion, a PE ratio of -20.19 and a beta of 0.72. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.24.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GBTG. BTIG Research initiated coverage on Global Business Travel Group in a research report on Tuesday, March 18th. They set a “buy” rating and a $10.00 price target on the stock. Morgan Stanley increased their target price on Global Business Travel Group from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Global Business Travel Group presently has an average rating of “Moderate Buy” and a consensus target price of $9.90.

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.