Bank of America Corp DE Acquires 64,828 Shares of Global Business Travel Group, Inc. (NYSE:GBTG)

Bank of America Corp DE boosted its position in Global Business Travel Group, Inc. (NYSE:GBTG - Free Report) by 40.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 224,397 shares of the company's stock after acquiring an additional 64,828 shares during the period. Bank of America Corp DE's holdings in Global Business Travel Group were worth $2,082,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GBTG. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Global Business Travel Group by 390.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 2,762 shares of the company's stock valued at $26,000 after purchasing an additional 2,199 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Global Business Travel Group by 113.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,179 shares of the company's stock valued at $67,000 after purchasing an additional 3,816 shares in the last quarter. Jump Financial LLC bought a new position in shares of Global Business Travel Group in the fourth quarter valued at approximately $95,000. Xponance Inc. bought a new position in shares of Global Business Travel Group in the fourth quarter valued at approximately $105,000. Finally, Cibc World Markets Corp bought a new position in shares of Global Business Travel Group in the fourth quarter valued at approximately $109,000. Institutional investors own 82.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GBTG. BTIG Research began coverage on Global Business Travel Group in a report on Tuesday, March 18th. They issued a "buy" rating and a $10.00 target price on the stock. UBS Group dropped their target price on Global Business Travel Group from $11.00 to $10.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $9.70.

Global Business Travel Group Stock Performance

Global Business Travel Group stock traded up $0.08 during mid-day trading on Friday, reaching $6.58. 888,854 shares of the company's stock were exchanged, compared to its average volume of 903,456. The business's fifty day simple moving average is $6.47 and its 200 day simple moving average is $7.96. The firm has a market capitalization of $3.15 billion, a PE ratio of -18.26 and a beta of 0.73. Global Business Travel Group, Inc. has a one year low of $5.78 and a one year high of $9.60. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.24.

Global Business Travel Group (NYSE:GBTG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.06. The business had revenue of $621.00 million for the quarter, compared to analyst estimates of $632.63 million. Global Business Travel Group had a negative return on equity of 9.70% and a negative net margin of 7.06%. On average, sell-side analysts expect that Global Business Travel Group, Inc. will post -0.17 earnings per share for the current year.

Global Business Travel Group 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.