Carronade Capital Management LP Decreases Stake in Global Business Travel Group, Inc. $GBTG

Carronade Capital Management LP lowered its stake in Global Business Travel Group, Inc. (NYSE:GBTG) by 34.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,705,039 shares of the company’s stock after selling 906,825 shares during the period. Global Business Travel Group comprises 0.3% of Carronade Capital Management LP’s holdings, making the stock its 15th largest position. Carronade Capital Management LP’s holdings in Global Business Travel Group were worth $13,777,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. CWM LLC boosted its stake in shares of Global Business Travel Group by 21.1% during 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 during the period. State of Wyoming raised its holdings in Global Business Travel Group by 6.5% during the 2nd quarter. State of Wyoming now owns 40,964 shares of the company’s stock valued at $258,000 after buying an additional 2,504 shares during the last quarter. Occudo Quantitative Strategies LP raised its holdings in Global Business Travel Group by 3.6% during the 2nd quarter. Occudo Quantitative Strategies LP now owns 88,122 shares of the company’s stock valued at $555,000 after buying an additional 3,068 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Global Business Travel Group during the 3rd quarter valued at $26,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position 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 buying an additional 3,238 shares during the period. Hedge funds and other institutional investors own 82.46% of the company’s stock.

Global Business Travel Group Stock Up 1.2%

Shares of NYSE GBTG opened at $5.57 on Friday. The firm has a fifty day simple moving average of $6.37 and a two-hundred day simple moving average of $7.34. Global Business Travel Group, Inc. has a 12 month low of $4.95 and a 12 month high of $8.64. The company has a current ratio of 1.14, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $2.91 billion, a PE ratio of 24.20 and a beta of 0.77.

Global Business Travel Group (NYSE:GBTG) last announced its earnings results on Monday, March 9th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates 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. Equities analysts expect that Global Business Travel Group, Inc. will post -0.17 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GBTG. Weiss Ratings upgraded shares of Global Business Travel Group from a “sell (d)” rating to a “hold (c)” rating in a research report on Thursday. Evercore increased their target price 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. Citigroup cut their target price on Global Business Travel Group from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Thursday. UBS Group lowered 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 report on Tuesday. Finally, Zacks Research upgraded Global Business Travel Group from a “strong sell” rating to a “hold” rating in a report on Friday, January 9th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average 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.