Global Business Travel Group, Inc. (NYSE:GBTG) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its stake in shares of Global Business Travel Group, Inc. (NYSE:GBTG) by 41.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 806,519 shares of the company’s stock after acquiring an additional 237,682 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Global Business Travel Group were worth $6,202,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in Global Business Travel Group by 1,116.6% in 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 purchasing an additional 925,018 shares during the last quarter. Rhumbline Advisers raised its holdings in Global Business Travel Group by 419.3% in the second quarter. Rhumbline Advisers now owns 143,883 shares of the company’s stock valued at $950,000 after buying an additional 116,175 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Global Business Travel Group by 595.9% in the second quarter. Dimensional Fund Advisors LP now owns 114,695 shares of the company’s stock worth $757,000 after acquiring an additional 98,213 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Global Business Travel Group by 431.2% during the 2nd quarter. Renaissance Technologies LLC now owns 105,700 shares of the company’s stock valued at $698,000 after acquiring an additional 85,800 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Global Business Travel Group during the third quarter worth about $610,000. 82.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GBTG shares. Citigroup boosted their price objective on Global Business Travel Group from $9.00 to $9.50 and gave the company a “buy” rating in a research report on Friday, October 4th. UBS Group started coverage on shares of Global Business Travel Group in a research report on Friday, November 22nd. They set a “buy” rating and a $11.00 price objective for the company.

Global Business Travel Group Trading Down 0.3 %

NYSE GBTG opened at $9.23 on Thursday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.24. Global Business Travel Group, Inc. has a 12 month low of $4.49 and a 12 month high of $9.60. The company has a market capitalization of $4.34 billion, a PE ratio of -25.72 and a beta of 0.72. The stock has a 50-day simple moving average of $8.36 and a 200 day simple moving average of $7.34.

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 analysts’ consensus estimates 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 firm had revenue of $597.00 million for the quarter, compared to the consensus estimate of $611.89 million. During the same quarter last year, the company posted ($0.02) EPS. Research analysts forecast that Global Business Travel Group, Inc. will post -0.17 EPS for the current year.

Global Business Travel Group announced that its board has authorized a stock buyback plan on Tuesday, November 5th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 8.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

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.