Jag Capital Management LLC Purchases 3,907 Shares of Global Business Travel Group, Inc. (NYSE:GBTG)

Jag Capital Management LLC lifted its position in Global Business Travel Group, Inc. (NYSE:GBTG) by 17.6% in the 4th quarter, Holdings Channel reports. The fund owned 26,115 shares of the company’s stock after acquiring an additional 3,907 shares during the quarter. Jag Capital Management LLC’s holdings in Global Business Travel Group were worth $242,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in GBTG. Y Intercept Hong Kong Ltd purchased a new stake in shares of Global Business Travel Group in the 4th quarter worth approximately $112,000. Verition Fund Management LLC purchased a new stake in shares of Global Business Travel Group in the 3rd quarter worth approximately $98,000. Quadrature Capital Ltd purchased a new stake in shares of Global Business Travel Group in the 3rd quarter worth approximately $137,000. Entropy Technologies LP purchased a new stake in shares of Global Business Travel Group in the 3rd quarter worth approximately $145,000. Finally, Handelsbanken Fonder AB purchased a new stake in shares of Global Business Travel Group in the 4th quarter worth approximately $182,000. Institutional investors own 82.46% of the company’s stock.

Global Business Travel Group Stock Performance

Shares of GBTG opened at $8.51 on Tuesday. The business’s fifty day simple moving average is $8.92 and its two-hundred day simple moving average is $8.35. 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 cap of $4.00 billion, a price-to-earnings ratio of -23.64 and a beta of 0.71.

Global Business Travel Group announced that its Board of Directors has approved a stock repurchase plan on Tuesday, November 5th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 8.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several analysts recently weighed in on GBTG shares. Morgan Stanley upped 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 started coverage on Global Business Travel Group in a research note on Friday, November 22nd. They issued a “buy” rating and a $11.00 price target on the stock.

About Global Business Travel Group

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.