Global Business Travel Group, Inc. (NYSE:GBTG) Shares Sold by Carronade Capital Management LP

Carronade Capital Management LP trimmed its holdings in Global Business Travel Group, Inc. (NYSE:GBTG - Free Report) by 19.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,874,444 shares of the company's stock after selling 708,876 shares during the period. Global Business Travel Group comprises approximately 1.5% of Carronade Capital Management LP's holdings, making the stock its 9th largest holding. Carronade Capital Management LP owned about 0.61% of Global Business Travel Group worth $26,675,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Skandinaviska Enskilda Banken AB publ raised its holdings in 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 acquiring an additional 2,199 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Global Business Travel Group by 113.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,179 shares of the company's stock worth $67,000 after purchasing an additional 3,816 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Global Business Travel Group in the 4th quarter valued at about $95,000. Xponance Inc. bought a new position in shares of Global Business Travel Group during the fourth quarter worth about $105,000. Finally, Cibc World Markets Corp acquired a new position in Global Business Travel Group in the fourth quarter worth about $109,000. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

Global Business Travel Group Trading Up 1.8 %

NYSE GBTG opened at $6.88 on Monday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.56 and a current ratio of 1.56. Global Business Travel Group, Inc. has a one year low of $5.30 and a one year high of $9.60. The company has a 50-day simple moving average of $7.22 and a 200-day simple moving average of $8.28. The firm has a market capitalization of $3.29 billion, a PE ratio of -19.11 and a beta of 0.77.

Analysts Set New Price Targets

Separately, BTIG Research initiated coverage on Global Business Travel Group in a research note on Tuesday, March 18th. They set a "buy" rating and a $10.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Global Business Travel Group has a consensus rating of "Moderate Buy" and a consensus target price of $9.90.

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.

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