Monarch Alternative Capital LP Makes New $57.68 Million Investment in Global Business Travel Group, Inc. $GBTG

Monarch Alternative Capital LP purchased a new position in shares of Global Business Travel Group, Inc. (NYSE:GBTG) in the 3rd quarter, Holdings Channel reports. The firm purchased 7,138,582 shares of the company’s stock, valued at approximately $57,680,000. Global Business Travel Group comprises approximately 7.7% of Monarch Alternative Capital LP’s holdings, making the stock its 3rd largest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Quantbot Technologies LP bought a new stake in shares of Global Business Travel Group in the third quarter worth $26,000. CWM LLC grew its position in Global Business Travel Group by 21.1% in the third quarter. CWM LLC now owns 7,630 shares of the company’s stock valued at $62,000 after purchasing an additional 1,332 shares in the last quarter. Creative Planning acquired a new stake in Global Business Travel Group in the 2nd quarter valued at $67,000. Quadrature Capital Ltd acquired a new stake in Global Business Travel Group in the 2nd quarter valued at $71,000. Finally, Russell Investments Group Ltd. lifted its position in Global Business Travel Group by 1,238.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 9,024 shares of the company’s stock worth $73,000 after buying an additional 8,350 shares in the last quarter. 82.46% of the stock is currently owned by institutional investors and hedge funds.

Global Business Travel Group Stock Up 0.3%

Shares of GBTG stock opened at $5.58 on Tuesday. Global Business Travel Group, Inc. has a 52-week low of $4.95 and a 52-week high of $8.64. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 24.24 and a beta of 0.77. The firm’s 50-day moving average is $6.32 and its 200-day moving average is $7.32. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.14 and a current ratio of 1.14.

Global Business Travel Group (NYSE:GBTG) last posted its quarterly earnings results on Monday, March 9th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. The business had revenue of $792.00 million during the quarter, compared to analysts’ expectations of $789.48 million. Global Business Travel Group had a return on equity of 6.20% and a net margin of 4.01%. Sell-side analysts predict that Global Business Travel Group, Inc. will post -0.17 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Evercore raised their price objective on Global Business Travel Group from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Monday, December 1st. Wall Street Zen upgraded Global Business Travel Group from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. UBS Group decreased their price target on Global Business Travel Group from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, March 10th. BTIG Research lowered their price target on Global Business Travel Group from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Monday, March 9th. Finally, Zacks Research upgraded Global Business Travel Group from a “strong sell” rating to a “hold” rating in a research note on Friday, January 9th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Global Business Travel Group currently has a consensus rating of “Moderate Buy” and an average target price of $9.40.

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.