Global Business Travel Group, Inc. (NYSE:GBTG) Shares Bought by Golden State Wealth Management LLC

Golden State Wealth Management LLC boosted its holdings in shares of Global Business Travel Group, Inc. (NYSE:GBTG) by 59.2% in the first quarter, HoldingsChannel reports. The firm owned 388,155 shares of the company’s stock after buying an additional 144,303 shares during the period. Golden State Wealth Management LLC’s holdings in Global Business Travel Group were worth $2,818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. acquired a new position in Global Business Travel Group during the first quarter valued at $192,000. E. Ohman J or Asset Management AB lifted its position in Global Business Travel Group by 49.3% during the first quarter. E. Ohman J or Asset Management AB now owns 359,201 shares of the company’s stock valued at $2,608,000 after purchasing an additional 118,604 shares during the period. Rhumbline Advisers lifted its position in Global Business Travel Group by 13.9% during the first quarter. Rhumbline Advisers now owns 179,539 shares of the company’s stock valued at $1,303,000 after purchasing an additional 21,976 shares during the period. GAMMA Investing LLC raised its position in shares of Global Business Travel Group by 2,340.7% in the first quarter. GAMMA Investing LLC now owns 5,394 shares of the company’s stock worth $39,000 after acquiring an additional 5,173 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Global Business Travel Group by 25.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 160,666 shares of the company’s stock worth $1,491,000 after acquiring an additional 32,716 shares during the period. 82.46% of the stock is currently owned by institutional investors and hedge funds.

Global Business Travel Group Stock Up 1.9%

GBTG opened at $6.47 on Friday. Global Business Travel Group, Inc. has a twelve month low of $5.78 and a twelve month high of $9.60. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.21. The company has a 50-day moving average price of $6.31 and a 200 day moving average price of $7.55. The company has a market cap of $3.10 billion, a PE ratio of -64.70 and a beta of 0.73.

Global Business Travel Group (NYSE:GBTG) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.06. Global Business Travel Group had a negative net margin of 1.81% and a negative return on equity of 0.61%. The firm had revenue of $621.00 million during the quarter, compared to the consensus estimate of $632.63 million. Sell-side analysts expect that Global Business Travel Group, Inc. will post -0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GBTG. BTIG Research began coverage on shares of Global Business Travel Group in a research report on Tuesday, March 18th. They issued a “buy” rating and a $10.00 price objective for the company. Wall Street Zen downgraded shares of Global Business Travel Group from a “buy” rating to a “hold” rating in a research report on Saturday, June 14th. Finally, UBS Group decreased their price objective on shares of Global Business Travel Group from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Global Business Travel Group presently has an average rating of “Moderate Buy” and a consensus target price of $9.70.

About Global Business Travel Group

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.