Carronade Capital Management LP Reduces Stock Holdings in Global Business Travel Group, Inc. $GBTG

Carronade Capital Management LP cut its holdings in Global Business Travel Group, Inc. (NYSE:GBTG) by 37.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,611,864 shares of the company’s stock after selling 1,531,422 shares during the period. Global Business Travel Group comprises about 1.1% of Carronade Capital Management LP’s holdings, making the stock its 13th largest position. Carronade Capital Management LP owned about 0.55% of Global Business Travel Group worth $16,455,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC raised its position in Global Business Travel Group by 609.2% during the second quarter. Tower Research Capital LLC TRC now owns 34,247 shares of the company’s stock worth $216,000 after acquiring an additional 29,418 shares during the last quarter. Tidal Investments LLC increased its stake in shares of Global Business Travel Group by 11.9% during the 2nd quarter. Tidal Investments LLC now owns 298,493 shares of the company’s stock worth $1,881,000 after purchasing an additional 31,777 shares in the last quarter. Par Capital Management Inc. raised its position in shares of Global Business Travel Group by 37.1% during the 2nd quarter. Par Capital Management Inc. now owns 1,024,014 shares of the company’s stock worth $6,451,000 after purchasing an additional 277,284 shares during the last quarter. Man Group plc lifted its stake in Global Business Travel Group by 29.1% in the 2nd quarter. Man Group plc now owns 133,450 shares of the company’s stock valued at $841,000 after buying an additional 30,082 shares in the last quarter. Finally, HRT Financial LP acquired a new stake in Global Business Travel Group during the 2nd quarter valued at $1,831,000. 82.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Evercore ISI boosted their price target on Global Business Travel Group from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Monday, December 1st. Zacks Research downgraded shares of Global Business Travel Group from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 12th. Weiss Ratings restated a “sell (d)” rating on shares of Global Business Travel Group in a report on Monday, December 8th. Morgan Stanley lifted their price target on shares of Global Business Travel Group from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 11th. Finally, BTIG Research boosted their price objective on shares of Global Business Travel Group from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, August 27th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $10.25.

Global Business Travel Group Stock Up 0.8%

Shares of NYSE:GBTG opened at $8.05 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.89. The firm has a market cap of $4.21 billion, a price-to-earnings ratio of 402.25 and a beta of 0.73. The stock’s 50-day moving average price is $7.74 and its two-hundred day moving average price is $7.35. Global Business Travel Group, Inc. has a 12-month low of $5.78 and a 12-month high of $9.56.

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

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.