243,852 Shares in Global Business Travel Group, Inc. (NYSE:GBTG) Acquired by Golden State Wealth Management LLC

Golden State Wealth Management LLC bought a new stake in shares of Global Business Travel Group, Inc. (NYSE:GBTG) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 243,852 shares of the company’s stock, valued at approximately $2,263,000. Golden State Wealth Management LLC owned about 0.05% of Global Business Travel Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Verition Fund Management LLC purchased a new stake in shares of Global Business Travel Group during the 3rd quarter valued at $98,000. Quadrature Capital Ltd purchased a new stake in Global Business Travel Group during the third quarter valued at about $137,000. Entropy Technologies LP bought a new stake in Global Business Travel Group during the third quarter worth about $145,000. Jag Capital Management LLC purchased a new position in shares of Global Business Travel Group in the 3rd quarter worth about $171,000. Finally, Intech Investment Management LLC purchased a new position in shares of Global Business Travel Group in the 3rd quarter worth about $219,000. Hedge funds and other institutional investors own 82.46% of the company’s stock.

Global Business Travel Group Trading Down 0.3 %

GBTG stock opened at $8.98 on Friday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.24. The business’s 50 day moving average price is $9.13 and its two-hundred day moving average price is $8.09. Global Business Travel Group, Inc. has a fifty-two week low of $4.49 and a fifty-two 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 analysts’ consensus estimates 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 period last year, the business earned ($0.02) earnings per share. Sell-side analysts forecast that Global Business Travel Group, Inc. will post -0.17 EPS for the current year.

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GBTG shares. UBS Group started coverage on Global Business Travel Group in a research report on Friday, November 22nd. They issued a “buy” rating and a $11.00 target price for the company. Morgan Stanley lifted their price target on shares of 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.

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.