Global Business Travel Group (NYSE:GBTG) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen cut shares of Global Business Travel Group (NYSE:GBTG) from a buy rating to a hold rating in a research report sent to investors on Saturday.

GBTG has been the subject of several other research reports. Morgan Stanley reduced their price target on shares of Global Business Travel Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Monday, March 9th. Evercore upped their price objective on shares of Global Business Travel Group from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Monday, December 1st. Weiss Ratings raised shares of Global Business Travel Group from a “sell (d)” rating to a “hold (c)” rating in a research note on Thursday, March 12th. UBS Group reduced their price objective on shares of Global Business Travel Group from $11.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, March 10th. Finally, Zacks Research raised shares of Global Business Travel Group from a “strong sell” rating to a “hold” rating in a research report on Friday, January 9th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Global Business Travel Group has a consensus rating of “Moderate Buy” and an average target price of $9.40.

Global Business Travel Group Trading Down 0.6%

NYSE:GBTG opened at $5.47 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 23.76 and a beta of 0.77. The firm has a fifty day simple moving average of $6.11 and a two-hundred day simple moving average of $7.25. Global Business Travel Group has a 12 month low of $4.95 and a 12 month high of $8.64.

Global Business Travel Group (NYSE:GBTG) last announced its quarterly earnings data on Monday, March 9th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.04. Global Business Travel Group had a net margin of 4.01% and a return on equity of 6.20%. The firm had revenue of $792.00 million for the quarter, compared to analyst estimates of $789.48 million. Analysts expect that Global Business Travel Group will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Global Business Travel Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in GBTG. Redwood Capital Management LLC purchased a new stake in Global Business Travel Group during the third quarter worth about $173,347,000. Ares Management LLC raised its holdings in shares of Global Business Travel Group by 21.8% in the 2nd quarter. Ares Management LLC now owns 13,886,023 shares of the company’s stock worth $87,482,000 after purchasing an additional 2,489,506 shares during the period. Vanguard Group Inc. raised its holdings in shares of Global Business Travel Group by 24.7% in the 4th quarter. Vanguard Group Inc. now owns 13,857,451 shares of the company’s stock worth $106,010,000 after purchasing an additional 2,744,068 shares during the period. Attestor Capital Ltd purchased a new position in Global Business Travel Group in the fourth quarter valued at approximately $67,917,000. Finally, Anchorage Capital Advisors L.P. purchased a new position in Global Business Travel Group in the third quarter valued at approximately $58,073,000. Hedge funds and other institutional investors own 82.46% of the company’s stock.

About Global Business Travel Group

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.