Global Business Travel Group, Inc. (NYSE:GBTG) Sees Large Increase in Short Interest

Global Business Travel Group, Inc. (NYSE:GBTG) was the target of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 6,910,000 shares, an increase of 9.2% from the November 15th total of 6,330,000 shares. Based on an average daily volume of 1,040,000 shares, the short-interest ratio is presently 6.6 days. Approximately 3.9% of the shares of the company are sold short.

Hedge Funds Weigh In On Global Business Travel Group

Several hedge funds have recently added to or reduced their stakes in the business. Barclays PLC increased its stake in shares of Global Business Travel Group by 362.3% during 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 in the last quarter. Geode Capital Management LLC increased its position in Global Business Travel Group by 19.8% during the third quarter. Geode Capital Management LLC now owns 2,339,395 shares of the company’s stock worth $17,993,000 after buying an additional 386,636 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Global Business Travel Group by 54.0% in the third quarter. Jane Street Group LLC now owns 74,886 shares of the company’s stock worth $576,000 after acquiring an additional 26,269 shares during the last quarter. State Street Corp lifted its position in shares of Global Business Travel Group by 21.7% in the third quarter. State Street Corp now owns 1,946,990 shares of the company’s stock valued at $14,972,000 after acquiring an additional 346,540 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of Global Business Travel Group during the third quarter valued at $137,000. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GBTG. Morgan Stanley lifted their price objective on shares of Global Business Travel Group from $7.00 to $9.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. UBS Group started coverage on shares of Global Business Travel Group in a research note on Friday, November 22nd. They issued a “buy” rating and a $11.00 target price for the company. Finally, Citigroup boosted their price target on shares of Global Business Travel Group from $9.00 to $9.50 and gave the stock a “buy” rating in a research note on Friday, October 4th.

Global Business Travel Group Trading Down 0.2 %

Shares of GBTG opened at $8.98 on Tuesday. Global Business Travel Group has a twelve month low of $4.49 and a twelve month high of $9.60. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $4.23 billion, a P/E ratio of -24.94 and a beta of 0.73. The firm’s 50-day moving average is $8.49 and its two-hundred day moving average is $7.43.

Global Business Travel Group (NYSE:GBTG) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.14). The firm had revenue of $597.00 million during the quarter, compared to analysts’ expectations of $611.89 million. Global Business Travel Group had a negative net margin of 7.06% and a negative return on equity of 9.70%. During the same period in the previous year, the business earned ($0.02) earnings per share. On average, research analysts predict that Global Business Travel Group will post -0.17 earnings per share for the current fiscal year.

Global Business Travel Group announced that its Board of Directors has approved a share buyback plan on Tuesday, November 5th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 8.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

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.