Advantage Alpha Capital Partners LP Takes Position in Global Business Travel Group, Inc. (NYSE:GBTG)

Advantage Alpha Capital Partners LP acquired a new position in shares of Global Business Travel Group, Inc. (NYSE:GBTG) in the third quarter, Holdings Channel reports. The institutional investor acquired 270,155 shares of the company’s stock, valued at approximately $2,077,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of GBTG. Bank of New York Mellon Corp increased its position in shares of Global Business Travel Group by 1,116.6% during the second quarter. Bank of New York Mellon Corp now owns 1,007,861 shares of the company’s stock valued at $6,652,000 after acquiring an additional 925,018 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Global Business Travel Group by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 971,900 shares of the company’s stock worth $5,841,000 after purchasing an additional 10,446 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Global Business Travel Group by 41.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 806,519 shares of the company’s stock valued at $6,202,000 after purchasing an additional 237,682 shares during the last quarter. Tidal Investments LLC acquired a new stake in Global Business Travel Group in the 1st quarter valued at approximately $3,383,000. Finally, Rhumbline Advisers raised its position in Global Business Travel Group by 419.3% in the second quarter. Rhumbline Advisers now owns 143,883 shares of the company’s stock valued at $950,000 after purchasing an additional 116,175 shares during the period. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

Global Business Travel Group Stock Performance

NYSE:GBTG opened at $9.46 on Tuesday. Global Business Travel Group, Inc. has a 52 week low of $4.49 and a 52 week high of $9.60. The company has a fifty day simple moving average of $7.96 and a two-hundred day simple moving average of $7.07. 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 company has a market cap of $4.45 billion, a price-to-earnings ratio of -26.28 and a beta of 0.63.

Global Business Travel Group (NYSE:GBTG) last released its earnings results on Tuesday, November 5th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.14). The company had revenue of $597.00 million for the quarter, compared to analyst estimates of $611.89 million. Global Business Travel Group had a negative return on equity of 9.70% and a negative net margin of 7.06%. During the same period in the previous year, the firm earned ($0.02) earnings per share. As a group, equities analysts anticipate that Global Business Travel Group, Inc. will post -0.17 earnings per share for the current fiscal year.

Global Business Travel Group declared that its Board of Directors has initiated a share repurchase program on Tuesday, November 5th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to reacquire up to 8.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on GBTG shares. Evercore ISI lifted their price objective on Global Business Travel Group from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Citigroup raised their target price on Global Business Travel Group from $9.00 to $9.50 and gave the company a “buy” rating in a report on Friday, October 4th. Finally, UBS Group assumed coverage on shares of Global Business Travel Group in a research note on Friday. They set a “buy” rating and a $11.00 price target on the stock.

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.