Emmett Investment Management LP Sells 208,781 Shares of Global Business Travel Group, Inc. $GBTG

Emmett Investment Management LP decreased its position in shares of Global Business Travel Group, Inc. (NYSE:GBTG) by 47.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 229,404 shares of the company’s stock after selling 208,781 shares during the period. Global Business Travel Group comprises 1.3% of Emmett Investment Management LP’s holdings, making the stock its 23rd largest holding. Emmett Investment Management LP’s holdings in Global Business Travel Group were worth $1,826,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Ares Management LLC raised its position in Global Business Travel Group by 21.8% during the second quarter. Ares Management LLC now owns 13,886,023 shares of the company’s stock valued at $87,482,000 after purchasing an additional 2,489,506 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Global Business Travel Group by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 11,113,383 shares of the company’s stock valued at $89,796,000 after purchasing an additional 116,419 shares in the last quarter. Anchorage Capital Advisors L.P. bought a new position in shares of Global Business Travel Group in the 3rd quarter valued at $58,073,000. Dimensional Fund Advisors LP raised its holdings in shares of Global Business Travel Group by 19.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,826,361 shares of the company’s stock worth $22,840,000 after buying an additional 458,132 shares in the last quarter. Finally, Boundary Creek Advisors LP acquired a new position in shares of Global Business Travel Group during the 3rd quarter worth $22,911,000. 82.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GBTG has been the topic of several research analyst reports. Wall Street Zen raised Global Business Travel Group from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Evercore boosted their target price on Global Business Travel Group from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Monday, December 1st. Citigroup dropped their target price on shares of Global Business Travel Group from $11.00 to $9.00 and set a “buy” rating for the company in a report on Thursday. BTIG Research decreased their price target on shares of Global Business Travel Group from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Monday, March 9th. Finally, Zacks Research upgraded shares of Global Business Travel Group from a “strong sell” rating to a “hold” rating in a research report on Friday, January 9th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Global Business Travel Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.40.

Global Business Travel Group Trading Up 1.2%

NYSE GBTG opened at $5.57 on Friday. The company has a market cap of $2.91 billion, a price-to-earnings ratio of 24.20 and a beta of 0.77. Global Business Travel Group, Inc. has a twelve month low of $4.95 and a twelve month high of $8.64. The company has a quick ratio of 1.23, a current ratio of 1.14 and a debt-to-equity ratio of 0.84. The business’s fifty day moving average is $6.37 and its 200 day moving average is $7.34.

Global Business Travel Group (NYSE:GBTG) last posted its earnings results on Monday, March 9th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.02 by $0.04. Global Business Travel Group had a return on equity of 6.20% and a net margin of 4.01%.The firm had revenue of $792.00 million during the quarter, compared to the consensus estimate of $789.48 million. As a group, sell-side analysts expect that Global Business Travel Group, Inc. will post -0.17 EPS for the current fiscal year.

Global Business Travel Group Company Profile

Global Business Travel Group (NYSE: GBTG), formerly known as American Express Global Business Travel, is a provider of end-to-end corporate travel management solutions. The company helps organizations plan, book and manage business travel, meetings and events through an integrated suite of services. Its offerings include traveller support, expense management, virtual and in-person meeting services, data analytics and duty-of-care solutions tailored to enterprise customers.

Operating under a global network of offices and digital platforms, Global Business Travel Group serves clients across the Americas, EMEA and Asia Pacific.