Tidal Investments LLC Reduces Holdings in Global Business Travel Group, Inc. (NYSE:GBTG)

Tidal Investments LLC lowered its position in Global Business Travel Group, Inc. (NYSE:GBTG) by 27.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 337,092 shares of the company’s stock after selling 127,470 shares during the period. Tidal Investments LLC owned 0.07% of Global Business Travel Group worth $2,592,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its stake in shares of 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 worth $6,652,000 after buying an additional 925,018 shares in the last quarter. Geode Capital Management LLC raised its holdings in 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 acquiring an additional 386,636 shares during the last quarter. State Street Corp boosted its holdings in shares of Global Business Travel Group by 21.7% during the 3rd quarter. State Street Corp now owns 1,946,990 shares of the company’s stock worth $14,972,000 after purchasing an additional 346,540 shares during the last quarter. Advantage Alpha Capital Partners LP acquired a new position in shares of Global Business Travel Group during the 3rd quarter worth approximately $2,077,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Global Business Travel Group by 41.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 806,519 shares of the company’s stock valued at $6,202,000 after purchasing an additional 237,682 shares in the last quarter. Institutional investors and hedge funds own 82.46% of the company’s stock.

Global Business Travel Group Price Performance

NYSE:GBTG opened at $9.00 on Monday. Global Business Travel Group, Inc. has a 52 week low of $4.49 and a 52 week high of $9.60. The stock’s fifty day moving average is $8.46 and its two-hundred day moving average is $7.40. The company has a market capitalization of $4.23 billion, a P/E ratio of -25.00 and a beta of 0.73. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.24.

Global Business Travel Group (NYSE:GBTG) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate 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 company had revenue of $597.00 million during the quarter, compared to analyst estimates of $611.89 million. During the same quarter in the prior year, the company posted ($0.02) earnings per share. Equities analysts expect that Global Business Travel Group, Inc. will post -0.17 EPS for the current year.

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

Wall Street Analysts Forecast Growth

GBTG has been the topic of a number of recent research reports. Citigroup boosted their price objective on Global Business Travel Group from $9.00 to $9.50 and gave the stock a “buy” rating in a research note on Friday, October 4th. Morgan Stanley upped their price objective on shares of Global Business Travel Group from $7.00 to $9.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, UBS Group assumed coverage on shares of Global Business Travel Group in a research note on Friday, November 22nd. They set a “buy” rating and a $11.00 target price on the stock.

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.