E. Ohman J or Asset Management AB Takes $2.23 Million Position in Global Business Travel Group, Inc. (NYSE:GBTG)

E. Ohman J or Asset Management AB purchased a new stake in Global Business Travel Group, Inc. (NYSE:GBTG) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 240,597 shares of the company’s stock, valued at approximately $2,233,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GBTG. Geode Capital Management LLC boosted its stake in shares of 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 purchasing an additional 386,636 shares during the last quarter. State Street Corp boosted its stake in Global Business Travel Group by 21.7% in the third quarter. State Street Corp now owns 1,946,990 shares of the company’s stock valued at $14,972,000 after acquiring an additional 346,540 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Global Business Travel Group by 41.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 806,519 shares of the company’s stock worth $6,202,000 after acquiring an additional 237,682 shares during the period. PB Investment Partners L.P. raised its position in shares of Global Business Travel Group by 0.6% during the 4th 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 last quarter. Finally, Advantage Alpha Capital Partners LP acquired a new position in shares of Global Business Travel Group in the 3rd quarter valued at $2,077,000. 82.46% of the stock is currently owned by institutional investors and hedge funds.

Global Business Travel Group Price Performance

GBTG opened at $9.00 on Wednesday. The company has a fifty day simple moving average of $9.15 and a 200 day simple moving average of $8.06. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.24. The stock 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 12 month low of $4.49 and a 12 month high of $9.60.

Global Business Travel Group (NYSE:GBTG) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.22) 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 business had revenue of $597.00 million for the quarter, compared to analyst estimates of $611.89 million. During the same period in the prior year, the business earned ($0.02) EPS. On average, research analysts expect that Global Business Travel Group, Inc. will post -0.17 EPS for the current year.

Global Business Travel Group announced that its Board of Directors has approved a stock repurchase program 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 stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GBTG. UBS Group assumed coverage on Global Business Travel Group in a report on Friday, November 22nd. They issued a “buy” rating and a $11.00 price objective for the company. Morgan Stanley upped their price target 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 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.