Global Business Travel Group (NYSE:GBTG) Coverage Initiated at BTIG Research

BTIG Research initiated coverage on shares of Global Business Travel Group (NYSE:GBTG) in a research note issued to investors on Tuesday, Marketbeat reports. The firm set a “buy” rating and a $10.00 price target on the stock. BTIG Research’s price target indicates a potential upside of 29.95% from the company’s previous close.

A number of other brokerages have also recently weighed in on GBTG. UBS Group started coverage on shares of Global Business Travel Group in a research note on Friday, November 22nd. They set a “buy” rating and a $11.00 price objective on the stock. 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 note on Thursday, December 12th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Global Business Travel Group has an average rating of “Moderate Buy” and an average target price of $9.90.

Global Business Travel Group Price Performance

Shares of NYSE GBTG opened at $7.70 on Tuesday. Global Business Travel Group has a fifty-two week low of $5.30 and a fifty-two week high of $9.60. The firm’s 50-day simple moving average is $8.55 and its 200 day simple moving average is $8.40. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.24. The stock has a market cap of $3.68 billion, a P/E ratio of -21.38 and a beta of 0.72.

Hedge Funds Weigh In On Global Business Travel Group

Institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in Global Business Travel Group by 19.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,339,395 shares of the company’s stock valued at $17,993,000 after acquiring an additional 386,636 shares in the last quarter. State Street Corp grew its stake in Global Business Travel Group by 21.7% during the 3rd 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. Millennium Management LLC grew its stake in Global Business Travel Group by 179.3% during the 4th quarter. Millennium Management LLC now owns 1,411,286 shares of the company’s stock valued at $13,097,000 after acquiring an additional 905,929 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Global Business Travel Group by 45.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,234,252 shares of the company’s stock valued at $11,454,000 after acquiring an additional 384,560 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Global Business Travel Group by 5.2% during the 4th quarter. Northern Trust Corp now owns 1,176,197 shares of the company’s stock valued at $10,915,000 after acquiring an additional 58,189 shares in the last quarter. Hedge funds and other institutional investors 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.