Global Business Travel Group (NYSE:GBTG) PT Raised to $9.00

Global Business Travel Group (NYSE:GBTG) had its price target lifted by Citigroup from $8.00 to $9.00 in a report released on Thursday morning, Benzinga reports. Citigroup currently has a buy rating on the stock.

Separately, Evercore ISI lifted their price objective on shares of Global Business Travel Group from $9.00 to $10.00 and gave the company an outperform rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $9.40.

Global Business Travel Group Stock Performance

Shares of GBTG traded down $0.21 during midday trading on Thursday, reaching $6.62. The stock had a trading volume of 533,121 shares, compared to its average volume of 463,849. The firm has a 50 day simple moving average of $6.55 and a 200-day simple moving average of $6.13. Global Business Travel Group has a one year low of $4.49 and a one year high of $7.13. The firm has a market cap of $3.13 billion, a PE ratio of -16.97 and a beta of 0.62. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.15.

Institutional Trading of Global Business Travel Group

Hedge funds have recently modified their holdings of the stock. American Express Co acquired a new stake in shares of Global Business Travel Group during the 4th quarter worth about $1,017,721,000. Tidal Investments LLC acquired a new stake in Global Business Travel Group in the 1st quarter worth about $3,383,000. Par Capital Management Inc. raised its stake in Global Business Travel Group by 42.1% in the 4th quarter. Par Capital Management Inc. now owns 770,000 shares of the company’s stock worth $4,966,000 after purchasing an additional 228,149 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Global Business Travel Group by 53.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,650 shares of the company’s stock worth $43,000 after purchasing an additional 2,323 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Global Business Travel Group by 595.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 114,695 shares of the company’s stock worth $757,000 after purchasing an additional 98,213 shares in the last quarter. Institutional investors and hedge funds own 82.46% of the company’s stock.

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.