Ballast Asset Management LP Sells 12,932 Shares of Global Business Travel Group, Inc. (NYSE:GBTG)

Ballast Asset Management LP reduced its stake in shares of Global Business Travel Group, Inc. (NYSE:GBTG) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 392,366 shares of the company’s stock after selling 12,932 shares during the quarter. Global Business Travel Group accounts for 1.9% of Ballast Asset Management LP’s portfolio, making the stock its 24th largest position. Ballast Asset Management LP owned about 0.08% of Global Business Travel Group worth $3,638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in GBTG. Charles Schwab Investment Management Inc. increased its position in shares of 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 purchasing an additional 237,682 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Global Business Travel Group during the third quarter worth about $984,000. Barclays PLC increased its holdings in shares of Global Business Travel Group by 362.3% during the third quarter. Barclays PLC now owns 198,673 shares of the company’s stock worth $1,528,000 after buying an additional 155,696 shares in the last quarter. State Street Corp raised its stake in shares of 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. Finally, Geode Capital Management LLC raised its stake in shares of Global Business Travel Group by 19.8% in the third 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. 82.46% of the stock is owned by institutional investors.

Global Business Travel Group Price Performance

Shares of GBTG stock opened at $7.27 on Tuesday. The firm’s 50 day moving average price is $8.34 and its two-hundred day moving average price is $8.43. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.56 and a current ratio of 1.56. Global Business Travel Group, Inc. has a 52-week low of $5.30 and a 52-week high of $9.60. The stock has a market cap of $3.48 billion, a PE ratio of -20.19 and a beta of 0.72.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GBTG shares. BTIG Research began coverage on Global Business Travel Group in a report on Tuesday, March 18th. They set a “buy” rating and a $10.00 price target for the company. Morgan Stanley increased their target price on Global Business Travel Group from $7.00 to $9.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $9.90.

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.