Renaissance Technologies LLC Sells 182,380 Shares of Global Business Travel Group, Inc. (NYSE:GBTG)

Renaissance Technologies LLC decreased its position in shares of Global Business Travel Group, Inc. (NYSE:GBTG - Free Report) by 29.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 429,520 shares of the company's stock after selling 182,380 shares during the period. Renaissance Technologies LLC owned about 0.09% of Global Business Travel Group worth $3,986,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its stake in shares of Global Business Travel Group by 21.7% in the 3rd quarter. State Street Corp now owns 1,946,990 shares of the company's stock worth $14,972,000 after buying an additional 346,540 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of Global Business Travel Group by 54.0% during the third quarter. Jane Street Group LLC now owns 74,886 shares of the company's stock valued at $576,000 after acquiring an additional 26,269 shares in the last quarter. Barclays PLC raised its position in shares of Global Business Travel Group by 362.3% in the 3rd quarter. Barclays PLC now owns 198,673 shares of the company's stock worth $1,528,000 after purchasing an additional 155,696 shares during the last quarter. Geode Capital Management LLC boosted its stake in Global Business Travel Group by 19.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,339,395 shares of the company's stock worth $17,993,000 after purchasing an additional 386,636 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Global Business Travel Group by 2.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 101,127 shares of the company's stock valued at $778,000 after purchasing an additional 2,182 shares during the last quarter. Hedge funds and other institutional investors own 82.46% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, BTIG Research began coverage on shares of Global Business Travel Group in a report on Tuesday, March 18th. They issued a "buy" rating and a $10.00 target price for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Global Business Travel Group has an average rating of "Moderate Buy" and a consensus target price of $9.90.

Global Business Travel Group Stock Performance

NYSE GBTG traded up $0.02 during trading hours on Monday, hitting $6.79. The company's stock had a trading volume of 864,615 shares, compared to its average volume of 849,527. Global Business Travel Group, Inc. has a 12 month low of $5.30 and a 12 month high of $9.60. The company's 50 day simple moving average is $7.37 and its two-hundred day simple moving average is $8.30. The company has a market cap of $3.25 billion, a P/E ratio of -18.86 and a beta of 0.77. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.56 and a quick ratio of 1.56.

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.