Global Business Travel Group, Inc. $GBTG Stake Increased by Goldman Sachs Group Inc.

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. increased its stake in Global Business Travel Group, Inc. (NYSE:GBTG - Free Report) by 66.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 736,472 shares of the company's stock after buying 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in GBTG. Quarry LP bought a new stake in shares of Global Business Travel Group in the first quarter worth $26,000. Federated Hermes Inc. bought a new stake in shares of Global Business Travel Group in the first quarter worth $27,000. Neo Ivy Capital Management bought a new stake in Global Business Travel Group during the first quarter valued at $29,000. State of Wyoming bought a new stake in Global Business Travel Group during the fourth quarter valued at $31,000. Finally, GAMMA Investing LLC increased its stake 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 valued at $39,000 after purchasing an additional 5,173 shares during the last quarter. Institutional investors own 82.46% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. UBS Group boosted their target price on shares of Global Business Travel Group from $10.00 to $11.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. BTIG Research boosted their target price on shares of Global Business Travel Group from $8.00 to $10.00 and gave the company a "buy" rating in a research note on Wednesday, August 27th. Finally, Wall Street Zen lowered shares of Global Business Travel Group from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $9.88.

Global Business Travel Group Stock Up 0.3%

Global Business Travel Group stock opened at $8.19 on Tuesday. The company has a 50-day simple moving average of $7.35 and a 200-day simple moving average of $6.93. The firm has a market capitalization of $3.92 billion, a P/E ratio of -62.97 and a beta of 0.74. 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 one year low of $5.78 and a one year high of $9.60.

Global Business Travel Group (NYSE:GBTG - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $624.12 million. Global Business Travel Group had a negative net margin of 2.34% and a negative return on equity of 2.19%. Global Business Travel Group has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Global Business Travel Group, Inc. will post -0.17 earnings per share for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.