Golden State Wealth Management LLC Has $5.64 Million Holdings in Global Business Travel Group, Inc. (NYSE:GBTG)

Golden State Wealth Management LLC increased its stake in shares of Global Business Travel Group, Inc. (NYSE:GBTG - Free Report) by 218.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 776,310 shares of the company's stock after buying an additional 532,458 shares during the quarter. Golden State Wealth Management LLC owned 0.16% of Global Business Travel Group worth $5,636,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Rhumbline Advisers raised its position in Global Business Travel Group by 13.9% in the 1st quarter. Rhumbline Advisers now owns 179,539 shares of the company's stock valued at $1,303,000 after purchasing an additional 21,976 shares during the last quarter. Bank of America Corp DE increased its stake in shares of 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 valued at $2,082,000 after buying an additional 64,828 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Global Business Travel Group in the fourth quarter valued at about $446,000. Xponance Inc. acquired a new position in Global Business Travel Group during the 4th quarter worth about $105,000. Finally, Handelsbanken Fonder AB bought a new stake in Global Business Travel Group during the 4th quarter worth about $182,000. 82.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. UBS Group decreased their price target on shares of Global Business Travel Group from $11.00 to $10.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Wall Street Zen downgraded Global Business Travel Group from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Finally, BTIG Research assumed coverage on Global Business Travel Group in a research note on Tuesday, March 18th. They issued a "buy" rating and a $10.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $9.70.

Global Business Travel Group Stock Performance

GBTG stock traded up $0.15 during midday trading on Thursday, reaching $6.34. The company's stock had a trading volume of 879,944 shares, compared to its average volume of 931,679. The business's 50-day simple moving average is $6.34 and its 200-day simple moving average is $7.67. Global Business Travel Group, Inc. has a 52 week low of $5.78 and a 52 week high of $9.60. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.60 and a quick ratio of 1.60.

Global Business Travel Group (NYSE:GBTG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.06. Global Business Travel Group had a negative return on equity of 0.61% and a negative net margin of 1.81%. The business had revenue of $621.00 million during the quarter, compared to analysts' expectations of $632.63 million. Analysts predict that Global Business Travel Group, Inc. will post -0.17 earnings per share 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.