BTIG Research Initiates Coverage on Global Business Travel Group (NYSE:GBTG)

Investment analysts at BTIG Research assumed coverage on shares of Global Business Travel Group (NYSE:GBTG) in a note issued to investors on Tuesday, Marketbeat reports. The firm set a “buy” rating and a $10.00 price target on the stock. BTIG Research’s price target would indicate a potential upside of 29.95% from the company’s previous close.

A number of other analysts also recently weighed in on the stock. UBS Group began coverage on shares of Global Business Travel Group in a research report on Friday, November 22nd. They set a “buy” rating and a $11.00 price target for the company. Morgan Stanley raised their price target on shares of Global Business Travel Group from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Global Business Travel Group has a consensus rating of “Moderate Buy” and an average price target of $9.90.

Global Business Travel Group Stock Up 2.9 %

GBTG stock opened at $7.70 on Tuesday. Global Business Travel Group has a twelve month low of $5.30 and a twelve month high of $9.60. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $3.68 billion, a P/E ratio of -21.38 and a beta of 0.72. The firm has a 50 day simple moving average of $8.55 and a 200-day simple moving average of $8.40.

Hedge Funds Weigh In On Global Business Travel Group

A number of hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in Global Business Travel Group by 19.8% in the third quarter. Geode Capital Management LLC now owns 2,339,395 shares of the company’s stock worth $17,993,000 after purchasing an additional 386,636 shares during the period. State Street Corp lifted its stake in Global Business Travel Group by 21.7% in the third quarter. State Street Corp now owns 1,946,990 shares of the company’s stock valued at $14,972,000 after buying an additional 346,540 shares during the last quarter. Millennium Management LLC lifted its stake in Global Business Travel Group by 179.3% in the fourth quarter. Millennium Management LLC now owns 1,411,286 shares of the company’s stock valued at $13,097,000 after buying an additional 905,929 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Global Business Travel Group by 45.3% in the fourth quarter. Bank of New York Mellon Corp now owns 1,234,252 shares of the company’s stock valued at $11,454,000 after buying an additional 384,560 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Global Business Travel Group by 5.2% in the fourth quarter. Northern Trust Corp now owns 1,176,197 shares of the company’s stock valued at $10,915,000 after buying an additional 58,189 shares during the last quarter. Institutional investors and hedge funds own 82.46% of the company’s stock.

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.