E. Ohman J or Asset Management AB Buys New Shares in Global Business Travel Group, Inc. (NYSE:GBTG)

E. Ohman J or Asset Management AB purchased a new stake in shares of Global Business Travel Group, Inc. (NYSE:GBTG) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 240,597 shares of the company’s stock, valued at approximately $2,233,000. E. Ohman J or Asset Management AB owned 0.05% of Global Business Travel Group as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in Global Business Travel Group by 41.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 806,519 shares of the company’s stock valued at $6,202,000 after acquiring an additional 237,682 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Global Business Travel Group in the 3rd quarter valued at approximately $984,000. Barclays PLC raised its holdings in shares of Global Business Travel Group by 362.3% in the 3rd quarter. Barclays PLC now owns 198,673 shares of the company’s stock worth $1,528,000 after buying an additional 155,696 shares in the last quarter. State Street Corp lifted its position in shares of Global Business Travel Group by 21.7% during the 3rd quarter. State Street Corp now owns 1,946,990 shares of the company’s stock worth $14,972,000 after buying an additional 346,540 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Global Business Travel Group by 19.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,339,395 shares of the company’s stock valued at $17,993,000 after buying an additional 386,636 shares in the last quarter. Institutional investors and hedge funds own 82.46% of the company’s stock.

Global Business Travel Group Price Performance

Global Business Travel Group stock opened at $9.00 on Wednesday. The business’s fifty day moving average is $9.15 and its two-hundred day moving average is $8.06. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.56 and a current ratio of 1.56. The firm has a market cap of $4.23 billion, a P/E ratio of -24.99 and a beta of 0.71. Global Business Travel Group, Inc. has a 52 week low of $4.49 and a 52 week high of $9.60.

Global Business Travel Group (NYSE:GBTG) last issued its quarterly 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 return on equity of 9.70% and a negative net margin of 7.06%. The company had revenue of $597.00 million for the quarter, compared to analyst estimates of $611.89 million. During the same quarter last year, the company earned ($0.02) EPS. Equities research analysts forecast that Global Business Travel Group, Inc. will post -0.17 earnings per share for the current fiscal year.

Global Business Travel Group announced that its board has approved a stock buyback plan on Tuesday, November 5th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 8.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

GBTG has been the subject of several recent analyst reports. UBS Group initiated coverage on Global Business Travel Group in a research note on Friday, November 22nd. They set a “buy” rating and a $11.00 price objective for the company. Morgan Stanley increased their target price on shares of Global Business Travel Group from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th.

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.