Monarch Alternative Capital LP Acquires New Position in Global Business Travel Group, Inc. $GBTG

Monarch Alternative Capital LP acquired a new stake in Global Business Travel Group, Inc. (NYSE:GBTG) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,138,582 shares of the company’s stock, valued at approximately $57,680,000. Global Business Travel Group comprises about 7.7% of Monarch Alternative Capital LP’s portfolio, making the stock its 3rd biggest position. Monarch Alternative Capital LP owned about 1.49% of Global Business Travel Group as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Quantbot Technologies LP acquired a new position in shares of Global Business Travel Group in the 3rd quarter valued at $26,000. CWM LLC increased its holdings in Global Business Travel Group by 21.1% in the third quarter. CWM LLC now owns 7,630 shares of the company’s stock valued at $62,000 after purchasing an additional 1,332 shares during the last quarter. Creative Planning bought a new stake in Global Business Travel Group in the second quarter valued at about $67,000. Quadrature Capital Ltd acquired a new position in Global Business Travel Group in the second quarter valued at about $71,000. Finally, Russell Investments Group Ltd. lifted its stake in Global Business Travel Group by 1,238.9% in the third quarter. Russell Investments Group Ltd. now owns 9,024 shares of the company’s stock valued at $73,000 after buying an additional 8,350 shares during the period. Institutional investors and hedge funds own 82.46% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. UBS Group decreased their target price on Global Business Travel Group from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, March 10th. Evercore increased their price target on shares of Global Business Travel Group from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Monday, December 1st. Morgan Stanley reduced their price objective on shares of Global Business Travel Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Monday, March 9th. Wall Street Zen upgraded shares of Global Business Travel Group from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Finally, BTIG Research cut their target price on shares of Global Business Travel Group from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Monday, March 9th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $9.40.

Global Business Travel Group Stock Up 0.3%

Global Business Travel Group stock opened at $5.58 on Tuesday. Global Business Travel Group, Inc. has a twelve month low of $4.95 and a twelve month high of $8.64. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.84. The company has a 50 day moving average of $6.32 and a 200-day moving average of $7.32. The stock has a market capitalization of $2.92 billion, a PE ratio of 24.24 and a beta of 0.77.

Global Business Travel Group (NYSE:GBTG) last released its earnings results on Monday, March 9th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. The firm had revenue of $792.00 million during the quarter, compared to analysts’ expectations of $789.48 million. Global Business Travel Group had a return on equity of 6.20% and a net margin of 4.01%. On average, equities research analysts anticipate that Global Business Travel Group, Inc. will post -0.17 EPS for the current fiscal year.

Global Business Travel Group Profile

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.