Sei Investments Co. Buys 163,173 Shares of Global Business Travel Group, Inc. $GBTG

Key Points

• Sei Investments increased its GBTG stake by 90.3% in the first quarter, buying 163,173 additional shares for a total holding of 343,833 shares. Institutional investors collectively own 82.46% of the company.
• Analyst sentiment is cautious: GBTG has a consensus “Hold” rating from eight analysts, with an average price target of $8.90, below the recent share price of $9.44.
• The company reported quarterly revenue of $870 million, up 37.9% year over year and above estimates, but earnings per share of $0.03 missed expectations of $0.06. Meanwhile, insiders sold approximately 2.28 million shares worth $21.3 million over the last quarter.

Sei Investments Co. raised its stake in shares of Global Business Travel Group, Inc. (NYSE:GBTG - Free Report) by 90.3% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 343,833 shares of the company's stock after purchasing an additional 163,173 shares during the period. Sei Investments Co. owned 0.07% of Global Business Travel Group worth $1,919,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Dimensional Fund Advisors LP increased its position in Global Business Travel Group by 28.2% in the first quarter. Dimensional Fund Advisors LP now owns 4,255,603 shares of the company's stock worth $23,741,000 after buying an additional 936,989 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Global Business Travel Group by 4.4% during the 1st quarter. Bank of New York Mellon Corp now owns 424,010 shares of the company's stock valued at $2,366,000 after buying an additional 17,999 shares in the last quarter. Attestor Capital Ltd bought a new position in shares of Global Business Travel Group during the 4th quarter valued at approximately $67,917,000. Invesco Ltd. grew its stake in shares of Global Business Travel Group by 20.9% during the 4th quarter. Invesco Ltd. now owns 141,062 shares of the company's stock valued at $1,079,000 after acquiring an additional 24,353 shares during the period. Finally, DCM Advisors LLC bought a new position in shares of Global Business Travel Group during the 4th quarter valued at approximately $410,000. Institutional investors own 82.46% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Evercore cut shares of Global Business Travel Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Weiss Ratings upgraded shares of Global Business Travel Group from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, May 15th. Lake Street Capital set a $9.50 target price on shares of Global Business Travel Group in a report on Monday, May 4th. BTIG Research lowered Global Business Travel Group from a "buy" rating to a "neutral" rating in a research note on Monday, May 4th. Finally, Wall Street Zen lowered Global Business Travel Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $8.90.

Insider Activity

In related news, insider Eric J. Bock sold 125,030 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $9.36, for a total transaction of $1,170,280.80. Following the completion of the transaction, the insider directly owned 871,342 shares of the company's stock, valued at approximately $8,155,761.12. This represents a 12.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Andrew George Crawley sold 350,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $9.43, for a total value of $3,300,500.00. Following the transaction, the president owned 1,031,838 shares of the company's stock, valued at $9,730,232.34. This represents a 25.33% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 2,275,345 shares of company stock valued at $21,330,374. 5.40% of the stock is owned by corporate insiders.

Global Business Travel Group Price Performance

Shares of NYSE:GBTG opened at $9.44 on Monday. The firm has a market cap of $4.92 billion, a price-to-earnings ratio of 55.50 and a beta of 0.93. The firm has a fifty day moving average price of $9.39 and a 200 day moving average price of $7.55. Global Business Travel Group, Inc. has a fifty-two week low of $4.95 and a fifty-two week high of $9.54. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.20 and a current ratio of 1.20.

Global Business Travel Group (NYSE:GBTG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.03). The company had revenue of $870.00 million during the quarter, compared to the consensus estimate of $810.60 million. Global Business Travel Group had a net margin of 2.77% and a return on equity of 2.47%. The business's revenue was up 37.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.03 earnings per share. As a group, sell-side analysts expect that Global Business Travel Group, Inc. will post 0.18 earnings per share for the current fiscal year.

About Global Business Travel Group

Global Business Travel Group NYSE: GBTG, formerly known as American Express Global Business Travel, is a provider of end-to-end corporate travel management solutions. The company helps organizations plan, book and manage business travel, meetings and events through an integrated suite of services. Its offerings include traveller support, expense management, virtual and in-person meeting services, data analytics and duty-of-care solutions tailored to enterprise customers.

Operating under a global network of offices and digital platforms, Global Business Travel Group serves clients across the Americas, EMEA and Asia Pacific.

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