Carronade Capital Management LP Cuts Holdings in Global Business Travel Group, Inc. $GBTG

Key Points

• Carronade Capital Management LP has reduced its stake in Global Business Travel Group, Inc. by 18.2%, now holding approximately 2.35 million shares, valued at about $17 million.
• Several institutional investors have recently increased or established new stakes in Global Business Travel Group, with institutional ownership now at 82.46%.
• Analyst ratings for Global Business Travel Group show three "Buy" ratings, one "Hold" rating, with a current average price target set at $9.88.

Carronade Capital Management LP lowered its stake in shares of Global Business Travel Group, Inc. (NYSE:GBTG - Free Report) by 18.2% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 2,352,164 shares of the company's stock after selling 522,280 shares during the period. Global Business Travel Group comprises about 1.0% of Carronade Capital Management LP's portfolio, making the stock its 13th largest holding. Carronade Capital Management LP owned 0.49% of Global Business Travel Group worth $17,077,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of GBTG. State of Wyoming acquired a new position in Global Business Travel Group in the fourth quarter valued at approximately $31,000. Quarry LP purchased a new position in shares of Global Business Travel Group during the 1st quarter valued at approximately $26,000. Federated Hermes Inc. purchased a new position in shares of Global Business Travel Group during the 1st quarter valued at approximately $27,000. Neo Ivy Capital Management purchased a new stake in Global Business Travel Group during the first quarter worth $29,000. Finally, GAMMA Investing LLC boosted its holdings in Global Business Travel Group by 2,340.7% during the first quarter. GAMMA Investing LLC now owns 5,394 shares of the company's stock worth $39,000 after buying an additional 5,173 shares in the last quarter. Hedge funds and other institutional investors own 82.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. BTIG Research upped their price objective on shares of Global Business Travel Group from $8.00 to $10.00 and gave the stock a "buy" rating in a research report on Wednesday, August 27th. Wall Street Zen cut Global Business Travel Group from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Finally, UBS Group raised their price objective on Global Business Travel Group from $10.00 to $11.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $9.88.

Global Business Travel Group Price Performance

GBTG stock traded up $0.05 during trading on Thursday, hitting $8.15. The stock had a trading volume of 770,660 shares, compared to its average volume of 913,126. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.66 and a quick ratio of 1.66. Global Business Travel Group, Inc. has a twelve month low of $5.78 and a twelve month high of $9.60. The stock has a market capitalization of $3.90 billion, a P/E ratio of -62.65 and a beta of 0.75. The company's 50-day moving average price is $7.07 and its two-hundred day moving average price is $6.98.

Global Business Travel Group (NYSE:GBTG - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. The business had revenue of $631.00 million for the quarter, compared to analysts' expectations of $624.12 million. Global Business Travel Group had a negative return on equity of 2.19% and a negative net margin of 2.34%. Global Business Travel Group has set its FY 2025 guidance at EPS. As a group, research analysts predict that Global Business Travel Group, Inc. will post -0.17 EPS for the current fiscal year.

About Global Business Travel Group

Global Business Travel Group, Inc provides business-to-business (B2B) travel platform in the United States and internationally. The company's platform offers a suite of technology-enabled solutions to business travelers and clients; travel content suppliers, such as airlines, hotels, ground transportation, and aggregators; and third-party travel agencies.