Global Business Travel Group (NYSE:GBTG) Shares Gap Down to $8.21

Global Business Travel Group, Inc. (NYSE:GBTGGet Rating)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $8.21, but opened at $7.94. Global Business Travel Group shares last traded at $8.11, with a volume of 2,561 shares traded.

Wall Street Analysts Forecast Growth

Separately, Redburn Partners started coverage on Global Business Travel Group in a report on Tuesday, June 21st. They set a “buy” rating and a $12.50 price target on the stock.

Global Business Travel Group Stock Performance

The company’s fifty day simple moving average is $6.83. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.65 and a quick ratio of 1.65.

Hedge Funds Weigh In On Global Business Travel Group

Several institutional investors have recently modified their holdings of GBTG. Credit Suisse AG bought a new stake in Global Business Travel Group in the 2nd quarter valued at approximately $69,000. Virtu Financial LLC acquired a new position in shares of Global Business Travel Group during the 2nd quarter worth approximately $80,000. Prelude Capital Management LLC acquired a new position in shares of Global Business Travel Group during the 2nd quarter worth approximately $271,000. Cobalt Capital Management Inc. acquired a new position in shares of Global Business Travel Group during the 2nd quarter worth approximately $327,000. Finally, Dendur Capital LP acquired a new position in shares of Global Business Travel Group during the 2nd quarter worth approximately $876,000. 18.27% of the stock is currently owned by institutional investors and hedge funds.

Global Business Travel Group Company Profile

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Global Business Travel Group, Inc provides business-to-business (B2B) travel platform. The company's platform offers a suite of technology-enabled solutions to business travelers and corporate clients, travel content suppliers, and third-party travel agencies. Its platform manages travel, expenses, and meetings and events for companies.

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