Global Business Travel Group, Inc. $GBTG Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al lowered its stake in shares of Global Business Travel Group, Inc. (NYSE:GBTG) by 85.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,650 shares of the company’s stock after selling 68,450 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Global Business Travel Group were worth $89,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in GBTG. Redwood Capital Management LLC acquired a new stake in shares of Global Business Travel Group during the third quarter worth approximately $173,347,000. Anchorage Capital Advisors L.P. acquired a new stake in shares of Global Business Travel Group during the third quarter worth approximately $58,073,000. Monarch Alternative Capital LP acquired a new stake in shares of Global Business Travel Group during the third quarter worth approximately $57,680,000. Vanguard Group Inc. grew its position in shares of Global Business Travel Group by 24.7% during the fourth quarter. Vanguard Group Inc. now owns 13,857,451 shares of the company’s stock worth $106,010,000 after buying an additional 2,744,068 shares in the last quarter. Finally, Boundary Creek Advisors LP acquired a new stake in shares of Global Business Travel Group during the third quarter worth approximately $22,911,000. Institutional investors and hedge funds own 82.46% of the company’s stock.

Global Business Travel Group Stock Performance

Shares of GBTG opened at $9.41 on Wednesday. Global Business Travel Group, Inc. has a 1 year low of $4.95 and a 1 year high of $9.54. The company has a market cap of $4.93 billion, a price-to-earnings ratio of 55.32 and a beta of 0.75. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a fifty day moving average of $6.48 and a 200-day moving average of $6.86.

Global Business Travel Group (NYSE:GBTG) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.05. Global Business Travel Group had a net margin of 2.93% and a return on equity of 2.51%. The company had revenue of $840.00 million during the quarter, compared to the consensus estimate of $814.55 million. The company’s revenue for the quarter was up 35.3% on a year-over-year basis. As a group, equities analysts anticipate that Global Business Travel Group, Inc. will post 0.18 earnings per share for the current year.

Analyst Ratings Changes

GBTG has been the subject of a number of research reports. Wall Street Zen downgraded shares of Global Business Travel Group from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings raised shares of Global Business Travel Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday. Bank of America initiated coverage on shares of Global Business Travel Group in a report on Tuesday, April 7th. They issued a “neutral” rating and a $6.50 price objective for the company. Morgan Stanley decreased their price objective on shares of Global Business Travel Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Monday, March 9th. 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 report on Tuesday, March 10th. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $8.90.

Global Business Travel Group Company 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.