Arrowstreet Capital Limited Partnership Buys 279,533 Shares of Global Business Travel Group, Inc. (NYSE:GBTG)

Arrowstreet Capital Limited Partnership grew its position in shares of Global Business Travel Group, Inc. (NYSE:GBTG) by 225.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 403,262 shares of the company’s stock after acquiring an additional 279,533 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.09% of Global Business Travel Group worth $3,742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wulff Hansen & CO. grew its position in Global Business Travel Group by 7.7% in the 4th quarter. Wulff Hansen & CO. now owns 23,126 shares of the company’s stock worth $215,000 after purchasing an additional 1,651 shares in the last quarter. Pictet Asset Management Holding SA boosted its stake in shares of Global Business Travel Group by 17.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 13,578 shares of the company’s stock worth $126,000 after buying an additional 1,976 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Global Business Travel Group by 2.2% in the third quarter. JPMorgan Chase & Co. now owns 101,127 shares of the company’s stock valued at $778,000 after acquiring an additional 2,182 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in shares of Global Business Travel Group by 390.6% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 2,762 shares of the company’s stock valued at $26,000 after acquiring an additional 2,199 shares during the last quarter. Finally, PB Investment Partners L.P. lifted its holdings in Global Business Travel Group by 0.6% during the fourth quarter. PB Investment Partners L.P. now owns 613,264 shares of the company’s stock worth $5,691,000 after acquiring an additional 3,405 shares during the period. Hedge funds and other institutional investors own 82.46% of the company’s stock.

Global Business Travel Group Stock Down 1.2 %

GBTG stock opened at $6.39 on Wednesday. The stock has a fifty day moving average of $8.03 and a 200-day moving average of $8.39. Global Business Travel Group, Inc. has a fifty-two week low of $5.30 and a fifty-two week high of $9.60. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of -17.74 and a beta of 0.77. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.56 and a current ratio of 1.56.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GBTG shares. BTIG Research initiated coverage on Global Business Travel Group in a research note on Tuesday, March 18th. They issued a “buy” rating and a $10.00 price objective for the company. Morgan Stanley increased their price target on shares of Global Business Travel Group from $7.00 to $9.00 and gave the company 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 given a buy rating to the company. According to data from MarketBeat, Global Business Travel Group currently has an average rating of “Moderate Buy” and an average price target of $9.90.

Global Business Travel Group 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.