Geode Capital Management LLC Decreases Stock Holdings in Global Business Travel Group, Inc. $GBTG

Geode Capital Management LLC lowered its stake in Global Business Travel Group, Inc. (NYSE:GBTG) by 11.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,094,786 shares of the company’s stock after selling 268,483 shares during the quarter. Geode Capital Management LLC owned 0.44% of Global Business Travel Group worth $13,199,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in GBTG. Quarry LP bought a new position in shares of Global Business Travel Group during the 1st quarter valued at $26,000. Federated Hermes Inc. purchased a new stake in Global Business Travel Group during the first quarter valued at $27,000. CWM LLC lifted its holdings in Global Business Travel Group by 262.6% in the second quarter. CWM LLC now owns 6,298 shares of the company’s stock valued at $40,000 after acquiring an additional 4,561 shares during the period. PharVision Advisers LLC bought a new position in Global Business Travel Group in the first quarter valued at about $83,000. Finally, Landscape Capital Management L.L.C. purchased a new position in Global Business Travel Group in the first quarter worth about $90,000. Institutional investors own 82.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GBTG. Morgan Stanley upped their price target on shares of Global Business Travel Group from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Global Business Travel Group in a report on Monday, November 24th. Zacks Research downgraded shares of Global Business Travel Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 12th. UBS Group boosted their price objective on shares of Global Business Travel Group from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Finally, Evercore ISI upped their price objective on Global Business Travel Group from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Monday. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $10.25.

Global Business Travel Group Stock Performance

GBTG opened at $7.94 on Wednesday. The company has a 50 day simple moving average of $7.78 and a two-hundred day simple moving average of $7.26. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market cap of $4.15 billion, a P/E ratio of 396.75 and a beta of 0.73. Global Business Travel Group, Inc. has a 1-year low of $5.78 and a 1-year high of $9.59.

Global Business Travel Group (NYSE:GBTG) last released its earnings results on Monday, November 10th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.09). The firm had revenue of $674.00 million for the quarter, compared to analysts’ expectations of $615.39 million. Global Business Travel Group had a net margin of 0.40% and a return on equity of 3.52%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. Equities analysts forecast that Global Business Travel Group, Inc. will post -0.17 earnings per share for the current fiscal year.

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.