Golden State Wealth Management LLC Purchases New Position in Global Business Travel Group, Inc. (NYSE:GBTG)

Golden State Wealth Management LLC acquired a new position in Global Business Travel Group, Inc. (NYSE:GBTG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 243,852 shares of the company’s stock, valued at approximately $2,263,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Dimensional Fund Advisors LP grew its position in Global Business Travel Group by 595.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 114,695 shares of the company’s stock worth $757,000 after purchasing an additional 98,213 shares during the period. Marshall Wace LLP bought a new position in shares of Global Business Travel Group during the 2nd quarter valued at approximately $489,000. The Manufacturers Life Insurance Company raised its stake in Global Business Travel Group by 70.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 54,588 shares of the company’s stock worth $360,000 after acquiring an additional 22,650 shares during the period. SG Americas Securities LLC bought a new position in shares of Global Business Travel Group in the third quarter worth approximately $373,000. Finally, American Capital Advisory LLC bought a new stake in shares of Global Business Travel Group during the 3rd quarter valued at $568,000. 82.46% of the stock is owned by institutional investors.

Global Business Travel Group Stock Down 0.3 %

GBTG opened at $8.98 on Friday. 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 company has a fifty day moving average of $9.13 and a 200 day moving average of $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 data on Tuesday, November 5th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.14). The firm had revenue of $597.00 million for the quarter, compared to analysts’ expectations of $611.89 million. Global Business Travel Group had a negative net margin of 7.06% and a negative return on equity of 9.70%. During the same quarter in the previous year, the business earned ($0.02) EPS. As a group, sell-side analysts forecast that Global Business Travel Group, Inc. will post -0.17 earnings per share for the current fiscal year.

Global Business Travel Group declared that its board has authorized a stock repurchase plan on Tuesday, November 5th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to buy up to 8.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

GBTG has been the subject of a number of analyst reports. Morgan Stanley increased their price target 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. UBS Group initiated coverage on Global Business Travel Group in a research note on Friday, November 22nd. They issued a “buy” rating and a $11.00 price objective for the company.

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.