Beach Point Capital Management LP Has $3.90 Million Holdings in Global Business Travel Group, Inc. $GBTG

Beach Point Capital Management LP lessened its position in shares of Global Business Travel Group, Inc. (NYSE:GBTG) by 37.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 483,197 shares of the company’s stock after selling 286,946 shares during the period. Global Business Travel Group makes up about 1.8% of Beach Point Capital Management LP’s holdings, making the stock its 5th biggest position. Beach Point Capital Management LP owned 0.10% of Global Business Travel Group worth $3,904,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GBTG. Ares Management LLC boosted its holdings in Global Business Travel Group by 21.8% in the 2nd quarter. Ares Management LLC now owns 13,886,023 shares of the company’s stock valued at $87,482,000 after purchasing an additional 2,489,506 shares during the period. Qube Research & Technologies Ltd raised its position in shares of Global Business Travel Group by 1,337.1% in the second quarter. Qube Research & Technologies Ltd now owns 462,876 shares of the company’s stock worth $2,916,000 after buying an additional 430,667 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Global Business Travel Group by 66.6% during the first quarter. Goldman Sachs Group Inc. now owns 736,472 shares of the company’s stock valued at $5,347,000 after buying an additional 294,527 shares during the period. HRT Financial LP purchased a new position in Global Business Travel Group during the second quarter worth about $1,831,000. Finally, Par Capital Management Inc. grew its position in Global Business Travel Group by 37.1% during the second quarter. Par Capital Management Inc. now owns 1,024,014 shares of the company’s stock worth $6,451,000 after buying an additional 277,284 shares in the last quarter. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

Global Business Travel Group Trading Up 7.2%

GBTG stock opened at $8.07 on Tuesday. The company has a market capitalization of $4.22 billion, a PE ratio of 403.25 and a beta of 0.73. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.23 and a current ratio of 1.23. Global Business Travel Group, Inc. has a one year low of $5.78 and a one year high of $9.12. The company’s 50 day moving average price is $7.68 and its two-hundred day moving average price is $7.52.

Global Business Travel Group (NYSE:GBTG) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.09). The business had revenue of $674.00 million during 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 firm’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, analysts predict that Global Business Travel Group, Inc. will post -0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on GBTG shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Global Business Travel Group in a report on Monday, December 29th. Evercore ISI upped their price objective on shares of Global Business Travel Group from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Monday, December 1st. Morgan Stanley raised their target price on shares of Global Business Travel Group from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 11th. Finally, Zacks Research lowered shares of Global Business Travel Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 12th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $10.25.

About Global Business Travel Group

Global Business Travel Group (NYSE: GBTG), formerly known as American Express Global Business Travel, is a provider of end-to-end corporate travel management solutions. The company helps organizations plan, book and manage business travel, meetings and events through an integrated suite of services. Its offerings include traveller support, expense management, virtual and in-person meeting services, data analytics and duty-of-care solutions tailored to enterprise customers.

Operating under a global network of offices and digital platforms, Global Business Travel Group serves clients across the Americas, EMEA and Asia Pacific.