Attestor Capital Ltd Takes Position in Global Business Travel Group, Inc. $GBTG

Key Points

• Attestor Capital Ltd disclosed a new stake in Global Business Travel Group, buying 8.88 million shares worth about $67.9 million in the fourth quarter. The position makes GBTG Attestor’s largest holding, representing about 32.1% of its portfolio.
• Institutional ownership remains very high, with hedge funds and asset managers holding about 82.46% of the stock. Several other investors also added positions, including Vanguard, while others made sizeable new purchases in prior quarters.
• Analysts have become more cautious on GBTG, with recent downgrades leaving the stock at an overall Hold rating and an average price target of $8.90. The company also reported better-than-expected quarterly earnings and revenue, even as insiders sold shares in recent months.

Attestor Capital Ltd bought a new position in shares of Global Business Travel Group, Inc. (NYSE:GBTG - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 8,878,004 shares of the company's stock, valued at approximately $67,917,000. Global Business Travel Group accounts for about 32.1% of Attestor Capital Ltd's holdings, making the stock its largest position. Attestor Capital Ltd owned about 1.70% of Global Business Travel Group at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Redwood Capital Management LLC purchased a new stake in shares of Global Business Travel Group during the third quarter worth $173,347,000. Anchorage Capital Advisors L.P. purchased a new position in Global Business Travel Group in the third quarter valued at $58,073,000. Monarch Alternative Capital LP acquired a new position in Global Business Travel Group during the 3rd quarter worth $57,680,000. Vanguard Group Inc. grew its stake in Global Business Travel Group by 24.7% during the 4th quarter. Vanguard Group Inc. now owns 13,857,451 shares of the company's stock worth $106,010,000 after purchasing an additional 2,744,068 shares in the last quarter. Finally, Boundary Creek Advisors LP purchased a new stake in Global Business Travel Group during the 3rd quarter worth about $22,911,000. 82.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GBTG has been the subject of several recent research reports. BTIG Research cut Global Business Travel Group from a "buy" rating to a "neutral" rating in a research note on Monday, May 4th. Evercore lowered shares of Global Business Travel Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. UBS Group decreased their price target on shares of Global Business Travel Group from $11.00 to $10.00 and set a "buy" rating for the company in a research note on Tuesday, March 10th. Lake Street Capital set a $9.50 price objective on shares of Global Business Travel Group in a research report on Monday, May 4th. Finally, Weiss Ratings raised shares of Global Business Travel Group from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, May 15th. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $8.90.

Global Business Travel Group Trading Up 0.1%

GBTG opened at $9.37 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.18 and a current ratio of 1.18. Global Business Travel Group, Inc. has a one year low of $4.95 and a one year high of $9.54. The company has a market cap of $4.88 billion, a P/E ratio of 55.09 and a beta of 0.93. The business's 50-day simple moving average is $8.18 and its 200-day simple moving average is $7.15.

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

Insider Transactions at Global Business Travel Group

In other Global Business Travel Group news, insider Evan Konwiser sold 356,222 shares of the company's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $9.34, for a total value of $3,327,113.48. Following the completion of the transaction, the insider owned 502,641 shares in the company, valued at $4,694,666.94. This represents a 41.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James Peter Bush sold 17,500 shares of the company's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $9.36, for a total transaction of $163,800.00. Following the completion of the transaction, the director owned 120,526 shares of the company's stock, valued at $1,128,123.36. This represents a 12.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 1,572,683 shares of company stock worth $14,704,271. Insiders own 5.40% of the company's stock.

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.

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