Anchorage Capital Advisors L.P. Invests $58.07 Million in Global Business Travel Group, Inc. $GBTG

Anchorage Capital Advisors L.P. purchased a new stake in Global Business Travel Group, Inc. (NYSE:GBTG) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,187,258 shares of the company’s stock, valued at approximately $58,073,000. Global Business Travel Group makes up about 49.7% of Anchorage Capital Advisors L.P.’s investment portfolio, making the stock its biggest holding.

Other large investors have also recently bought and sold shares of the company. AQR Capital Management LLC increased its holdings in Global Business Travel Group by 169.9% in the 1st quarter. AQR Capital Management LLC now owns 64,060 shares of the company’s stock valued at $465,000 after buying an additional 40,328 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Global Business Travel Group by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,576 shares of the company’s stock valued at $541,000 after acquiring an additional 3,238 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Global Business Travel Group by 66.6% during the first quarter. Goldman Sachs Group Inc. now owns 736,472 shares of the company’s stock valued at $5,347,000 after purchasing an additional 294,527 shares in the last quarter. Olympiad Research LP acquired a new stake in shares of Global Business Travel Group in the 2nd quarter valued at $121,000. Finally, Creative Planning bought a new position in shares of Global Business Travel Group in the 2nd quarter valued at $67,000. 82.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on GBTG shares. UBS Group reduced their price objective on Global Business Travel Group from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday. Zacks Research raised shares of Global Business Travel Group from a “strong sell” rating to a “hold” rating in a report on Friday, January 9th. Citigroup dropped their price objective on shares of Global Business Travel Group from $11.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday. Evercore raised their target price 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. Finally, Morgan Stanley decreased their target price 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. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $9.40.

Global Business Travel Group Stock Performance

Shares of GBTG stock opened at $5.57 on Friday. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 24.20 and a beta of 0.77. The company has a current ratio of 1.14, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84. The business’s 50-day moving average price is $6.37 and its 200-day moving average price is $7.34. Global Business Travel Group, Inc. has a 12 month low of $4.95 and a 12 month high of $8.64.

Global Business Travel Group (NYSE:GBTG) last issued its quarterly earnings data on Monday, March 9th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. Global Business Travel Group had a net margin of 4.01% and a return on equity of 6.20%. The business had revenue of $792.00 million during the quarter, compared to analyst estimates of $789.48 million. Equities research analysts forecast that Global Business Travel Group, Inc. will post -0.17 EPS for the current year.

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.