Geode Capital Management LLC Reduces Position in Global Business Travel Group, Inc. (NYSE:GBTG)

Geode Capital Management LLC lowered its position in shares of Global Business Travel Group, Inc. (NYSE:GBTG) by 1.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,308,832 shares of the company’s stock after selling 30,563 shares during the quarter. Geode Capital Management LLC’s holdings in Global Business Travel Group were worth $21,431,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of 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 worth $14,972,000 after buying an additional 346,540 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Global Business Travel Group by 45.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,234,252 shares of the company’s stock valued at $11,454,000 after acquiring an additional 384,560 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Global Business Travel Group by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 812,242 shares of the company’s stock valued at $7,538,000 after purchasing an additional 5,723 shares during the last quarter. PB Investment Partners L.P. raised its holdings in shares of Global Business Travel Group by 0.6% during the 4th 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. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Global Business Travel Group by 225.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 403,262 shares of the company’s stock valued at $3,742,000 after purchasing an additional 279,533 shares during the last quarter. Hedge funds and other institutional investors own 82.46% of the company’s stock.

Global Business Travel Group Stock Performance

Shares of GBTG stock opened at $6.65 on Friday. Global Business Travel Group, Inc. has a 1 year low of $5.30 and a 1 year high of $9.60. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.56 and a current ratio of 1.56. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of -18.48 and a beta of 0.77. The stock’s 50-day moving average is $7.63 and its two-hundred day moving average is $8.33.

Analyst Upgrades and Downgrades

Separately, BTIG Research began coverage on Global Business Travel Group in a report on Tuesday, March 18th. They set a “buy” rating and a $10.00 price target for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock 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.