JPMorgan Chase & Co. Boosts Holdings in Global Business Travel Group, Inc. (NYSE:GBTG)

JPMorgan Chase & Co. grew its position in shares of Global Business Travel Group, Inc. (NYSE:GBTG) by 2.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,127 shares of the company’s stock after purchasing an additional 2,182 shares during the period. JPMorgan Chase & Co.’s holdings in Global Business Travel Group were worth $778,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Amalgamated Bank boosted its stake in Global Business Travel Group by 299.1% during the second quarter. Amalgamated Bank now owns 4,342 shares of the company’s stock valued at $29,000 after buying an additional 3,254 shares during the period. Verition Fund Management LLC purchased a new stake in shares of Global Business Travel Group in the 3rd quarter valued at about $98,000. Quadrature Capital Ltd bought a new stake in shares of Global Business Travel Group during the 3rd quarter valued at about $137,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Global Business Travel Group during the second quarter worth about $143,000. Finally, Entropy Technologies LP bought a new position in shares of Global Business Travel Group in the third quarter worth approximately $145,000. Institutional investors own 82.46% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on GBTG. UBS Group began coverage on shares of Global Business Travel Group in a research report on Friday, November 22nd. They set a “buy” rating and a $11.00 target price for the company. Morgan Stanley raised 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. Finally, Citigroup upped their target price on shares of Global Business Travel Group from $9.00 to $9.50 and gave the stock a “buy” rating in a research report on Friday, October 4th.

Global Business Travel Group Stock Performance

NYSE:GBTG opened at $8.96 on Monday. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of -24.88 and a beta of 0.72. The business has a 50 day moving average of $9.18 and a 200 day moving average of $7.96. 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, Inc. has a 1-year low of $4.49 and a 1-year high of $9.60.

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

Global Business Travel Group announced that its board has initiated a stock repurchase plan on Tuesday, November 5th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to repurchase up to 8.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Global Business Travel Group 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.