Jupiter Asset Management Ltd. Raises Stake in Global Business Travel Group, Inc. (NYSE:GBTG)

Key Points

• Jupiter Asset Management Ltd. significantly increased its holdings in Global Business Travel Group, purchasing an additional 49,411 shares and growing its position by 436.2% in the 1st quarter.
• Wall Street analysts provide a consensus rating of "Moderate Buy" for Global Business Travel Group, with a current average target price of $9.70.
• Global Business Travel Group reported earnings of $0.03 per share for the last quarter, surpassing estimates, with revenue of $631 million.

Jupiter Asset Management Ltd. boosted its stake in shares of Global Business Travel Group, Inc. (NYSE:GBTG - Free Report) by 436.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,739 shares of the company's stock after buying an additional 49,411 shares during the quarter. Jupiter Asset Management Ltd.'s holdings in Global Business Travel Group were worth $441,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in GBTG. GAMMA Investing LLC lifted its stake in Global Business Travel Group by 2,340.7% in the first quarter. GAMMA Investing LLC now owns 5,394 shares of the company's stock worth $39,000 after acquiring an additional 5,173 shares during the period. Rhumbline Advisers increased its holdings in Global Business Travel Group by 13.9% during the first quarter. Rhumbline Advisers now owns 179,539 shares of the company's stock valued at $1,303,000 after buying an additional 21,976 shares during the period. Bank of America Corp DE raised its stake 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 buying an additional 64,828 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in Global Business Travel Group by 59.2% during the first quarter. Golden State Wealth Management LLC now owns 388,155 shares of the company's stock worth $2,818,000 after buying an additional 144,303 shares during the period. Finally, Deutsche Bank AG boosted its position in Global Business Travel Group by 63.9% during the 4th quarter. Deutsche Bank AG now owns 117,079 shares of the company's stock valued at $1,086,000 after acquiring an additional 45,641 shares in the last quarter. 82.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GBTG shares. UBS Group upped their price objective on Global Business Travel Group from $10.00 to $11.00 and gave the stock a "buy" rating in a research note on Wednesday. Wall Street Zen lowered shares of Global Business Travel Group from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $9.88.

Global Business Travel Group Stock Up 3.7%

Shares of Global Business Travel Group stock traded up $0.27 during trading on Friday, reaching $7.52. The company's stock had a trading volume of 941,008 shares, compared to its average volume of 914,607. The company has a 50-day simple moving average of $6.43 and a two-hundred day simple moving average of $7.10. Global Business Travel Group, Inc. has a 1-year low of $5.78 and a 1-year high of $9.60. The company has a market cap of $3.60 billion, a price-to-earnings ratio of -57.81 and a beta of 0.73. The company has a quick ratio of 1.60, a current ratio of 1.66 and a debt-to-equity ratio of 1.13.

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, topping analysts' consensus estimates of $0.02 by $0.01. The business had revenue of $631.00 million for the quarter, compared to analyst estimates 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%. As a group, equities analysts forecast 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.