Global Business Travel Group (NYSE:GBTG) Shares Gap Up – Here’s What Happened

Global Business Travel Group, Inc. (NYSE:GBTG)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $5.04, but opened at $5.52. Global Business Travel Group shares last traded at $5.3950, with a volume of 430,849 shares.

Wall Street Analyst Weigh In

Several brokerages have commented on GBTG. Weiss Ratings reissued a “sell (d)” rating on shares of Global Business Travel Group in a report on Monday, December 29th. Zacks Research raised Global Business Travel Group from a “strong sell” rating to a “hold” rating in a research note on Friday, January 9th. Morgan Stanley upped their target price on Global Business Travel Group from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 11th. Finally, Evercore raised their price target on Global Business Travel Group from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Monday, December 1st. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.25.

Global Business Travel Group Trading Down 0.7%

The stock has a 50 day moving average of $7.14 and a 200 day moving average of $7.59. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market cap of $2.83 billion, a P/E ratio of 270.00 and a beta of 0.73.

Hedge Funds Weigh In On Global Business Travel Group

A number of large investors have recently modified their holdings of GBTG. Advantage Alpha Capital Partners LP increased its stake in Global Business Travel Group by 13.0% in the 2nd quarter. Advantage Alpha Capital Partners LP now owns 795,691 shares of the company’s stock worth $5,013,000 after purchasing an additional 91,374 shares during the period. Ares Management LLC grew its holdings in shares of Global Business Travel Group by 21.8% in the second quarter. Ares Management LLC now owns 13,886,023 shares of the company’s stock worth $87,482,000 after purchasing an additional 2,489,506 shares during the last quarter. Neo Ivy Capital Management increased its stake in shares of Global Business Travel Group by 926.2% in the second quarter. Neo Ivy Capital Management now owns 40,800 shares of the company’s stock worth $257,000 after buying an additional 36,824 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Global Business Travel Group in the second quarter worth $655,000. Finally, Ballast Asset Management LP raised its holdings in Global Business Travel Group by 27.2% during the 3rd quarter. Ballast Asset Management LP now owns 505,999 shares of the company’s stock valued at $4,088,000 after buying an additional 108,077 shares during the last quarter. 82.46% of the stock is owned by hedge funds and other institutional investors.

About Global Business Travel Group

Global Business Travel Group (NYSE: GBTG), formerly known as American Express Global Business Travel, is a provider of end-to-end corporate travel management solutions. The company helps organizations plan, book and manage business travel, meetings and events through an integrated suite of services. Its offerings include traveller support, expense management, virtual and in-person meeting services, data analytics and duty-of-care solutions tailored to enterprise customers.

Operating under a global network of offices and digital platforms, Global Business Travel Group serves clients across the Americas, EMEA and Asia Pacific.