Renaissance Technologies LLC Reduces Stock Position in Global Business Travel Group, Inc. $GBTG

Renaissance Technologies LLC trimmed its holdings in Global Business Travel Group, Inc. (NYSE:GBTG) by 19.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 404,820 shares of the company’s stock after selling 95,900 shares during the period. Renaissance Technologies LLC owned about 0.08% of Global Business Travel Group worth $2,259,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. AQR Capital Management LLC grew its position in shares of Global Business Travel Group by 169.9% during the first quarter. AQR Capital Management LLC now owns 64,060 shares of the company’s stock worth $465,000 after buying an additional 40,328 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Global Business Travel Group by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,576 shares of the company’s stock valued at $541,000 after acquiring an additional 3,238 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Global Business Travel Group by 66.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 736,472 shares of the company’s stock valued at $5,347,000 after acquiring an additional 294,527 shares during the last quarter. Creative Planning acquired a new position in Global Business Travel Group during the 2nd quarter worth $67,000. Finally, Legal & General Group Plc grew its holdings in Global Business Travel Group by 4.0% during the 2nd quarter. Legal & General Group Plc now owns 112,365 shares of the company’s stock worth $708,000 after acquiring an additional 4,308 shares in the last quarter. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

Global Business Travel Group Stock Down 0.1%

NYSE GBTG opened at $9.45 on Tuesday. Global Business Travel Group, Inc. has a 12 month low of $4.95 and a 12 month high of $9.54. The company has a market capitalization of $4.93 billion, a P/E ratio of 55.59 and a beta of 0.93. The company’s 50 day simple moving average is $9.40 and its 200 day simple moving average is $7.57. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.20 and a quick ratio of 1.20.

Global Business Travel Group (NYSE:GBTG) last issued its earnings results on Tuesday, August 4th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). The business had revenue of $870.00 million for the quarter, compared to the consensus estimate of $810.60 million. Global Business Travel Group had a return on equity of 2.47% and a net margin of 2.77%.The company’s quarterly revenue was up 37.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.03 earnings per share. Equities research analysts expect that Global Business Travel Group, Inc. will post 0.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Global Business Travel Group

In other news, insider Eric J. Bock sold 90,886 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $9.35, for a total transaction of $849,784.10. Following the sale, the insider directly owned 773,956 shares of the company’s stock, valued at $7,236,488.60. The trade was a 10.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Karen A. Williams sold 20,000 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $9.43, for a total value of $188,600.00. Following the sale, the chief financial officer directly owned 548,257 shares of the company’s stock, valued at approximately $5,170,063.51. This represents a 3.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 2,275,345 shares of company stock worth $21,330,374. 5.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

GBTG has been the topic of a number of recent analyst reports. Lake Street Capital set a $9.50 target price on shares of Global Business Travel Group in a research note on Monday, May 4th. Wall Street Zen lowered Global Business Travel Group from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Evercore cut Global Business Travel Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. BTIG Research downgraded Global Business Travel Group from a “buy” rating to a “neutral” rating in a report on Monday, May 4th. Finally, Weiss Ratings upgraded Global Business Travel Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $8.90.

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.