Goldman Sachs Group Inc. Acquires 294,527 Shares of Global Business Travel Group, Inc. $GBTG

Key Points

• Goldman Sachs Group Inc. increased its stake in Global Business Travel Group, Inc. by 66.6% in the first quarter, owning approximately 0.15% of the company worth $5.35 million.
• Several analysts have raised price targets for GBTG, with UBS Group increasing its target from $10.00 to $11.00 and BTIG from $8.00 to $10.00, while Wall Street Zen downgraded the stock from a "buy" to a "hold" rating.
• Global Business Travel Group reported a quarterly earnings of $0.03 per share, surpassing estimates, with revenues of $631 million compared to the predicted $624.12 million.

Goldman Sachs Group Inc. grew its holdings in shares of Global Business Travel Group, Inc. (NYSE:GBTG - Free Report) by 66.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 736,472 shares of the company's stock after acquiring an additional 294,527 shares during the period. Goldman Sachs Group Inc. owned about 0.15% of Global Business Travel Group worth $5,347,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of 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 purchasing an additional 5,173 shares during the last quarter. Rhumbline Advisers lifted its holdings in Global Business Travel Group by 13.9% in the first quarter. Rhumbline Advisers now owns 179,539 shares of the company's stock worth $1,303,000 after acquiring an additional 21,976 shares during the last quarter. Bank of America Corp DE lifted its holdings in Global Business Travel Group by 40.6% in the fourth quarter. Bank of America Corp DE now owns 224,397 shares of the company's stock worth $2,082,000 after acquiring an additional 64,828 shares during the last quarter. American Century Companies Inc. bought a new position in Global Business Travel Group in the first quarter worth about $455,000. Finally, Golden State Wealth Management LLC lifted its holdings in Global Business Travel Group by 59.2% in the first quarter. Golden State Wealth Management LLC now owns 388,155 shares of the company's stock worth $2,818,000 after acquiring an additional 144,303 shares during the last quarter. Institutional investors own 82.46% of the company's stock.

Wall Street Analyst Weigh In

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

Global Business Travel Group Price Performance

Shares of NYSE GBTG traded down $0.07 during mid-day trading on Friday, hitting $8.15. 2,509,496 shares of the stock were exchanged, compared to its average volume of 890,111. The company has a market cap of $3.90 billion, a P/E ratio of -62.69 and a beta of 0.75. The stock's fifty day simple moving average is $7.49 and its two-hundred day simple moving average is $6.95. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.66 and a current 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.

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

Global Business Travel Group Company Profile

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.