Wells Fargo & Company MN Purchases 19,429 Shares of Global Business Travel Group, Inc. (NYSE:GBTG)

Wells Fargo & Company MN raised its holdings in Global Business Travel Group, Inc. (NYSE:GBTG) by 47.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,782 shares of the company’s stock after buying an additional 19,429 shares during the quarter. Wells Fargo & Company MN’s holdings in Global Business Travel Group were worth $564,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Global Business Travel Group by 390.6% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 2,762 shares of the company’s stock worth $26,000 after buying an additional 2,199 shares during the period. Xponance Inc. acquired a new stake in shares of Global Business Travel Group in the 4th quarter valued at $105,000. Cibc World Markets Corp acquired a new stake in shares of Global Business Travel Group during the 4th quarter worth about $109,000. Y Intercept Hong Kong Ltd acquired a new position in Global Business Travel Group in the fourth quarter valued at about $112,000. Finally, Pictet Asset Management Holding SA boosted its holdings in shares of Global Business Travel Group by 17.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 13,578 shares of the company’s stock worth $126,000 after acquiring an additional 1,976 shares in the last quarter. Institutional investors and hedge funds own 82.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, BTIG Research initiated coverage on Global Business Travel Group in a research report on Tuesday, March 18th. They issued a “buy” rating and a $10.00 price objective for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.90.

Global Business Travel Group Price Performance

Shares of GBTG stock opened at $6.88 on Friday. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of -19.11 and a beta of 0.77. 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, Inc. has a 12 month low of $5.30 and a 12 month high of $9.60. The stock has a 50-day moving average price of $7.22 and a 200 day moving average price of $8.27.

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.