American Express Co purchased a new stake in shares of Global Business Travel Group, Inc. (NYSE:GBTG – Free Report) during the fourth quarter, Holdings Channel reports. The firm purchased 157,786,199 shares of the company’s stock, valued at approximately $1,017,721,000. Global Business Travel Group accounts for approximately 97.6% of American Express Co’s investment portfolio, making the stock its largest holding. American Express Co owned approximately 0.34% of Global Business Travel Group at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Carronade Capital Management LP grew its holdings in shares of Global Business Travel Group by 5.4% during the 3rd quarter. Carronade Capital Management LP now owns 3,473,562 shares of the company’s stock valued at $19,105,000 after purchasing an additional 176,404 shares during the last quarter. Dendur Capital LP boosted its position in Global Business Travel Group by 20.1% during the third quarter. Dendur Capital LP now owns 2,450,000 shares of the company’s stock valued at $13,475,000 after buying an additional 410,114 shares during the period. Ballast Asset Management LP bought a new position in shares of Global Business Travel Group during the third quarter valued at about $1,259,000. Bank of New York Mellon Corp grew its stake in shares of Global Business Travel Group by 10.6% during the third quarter. Bank of New York Mellon Corp now owns 95,671 shares of the company’s stock valued at $526,000 after buying an additional 9,197 shares during the last quarter. Finally, Victory Capital Management Inc. purchased a new position in shares of Global Business Travel Group in the third quarter worth about $157,000. Institutional investors own 82.46% of the company’s stock.
Global Business Travel Group Price Performance
Global Business Travel Group stock remained flat at $6.00 during mid-day trading on Wednesday. 120,005 shares of the company’s stock were exchanged, compared to its average volume of 149,498. The stock’s 50-day moving average price is $5.86 and its 200 day moving average price is $5.82. Global Business Travel Group, Inc. has a fifty-two week low of $4.49 and a fifty-two week high of $8.05. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.64 and a quick ratio of 1.64. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of -14.62 and a beta of 0.63.
About Global Business Travel Group
Global Business Travel Group, Inc provides business-to-business (B2B) travel platform in the United States and internationally. The company's platform offers a suite of technology-enabled solutions to business travelers and clients; travel content suppliers, such as airlines, hotels, ground transportation, and aggregators; and third-party travel agencies.
Further Reading
- Five stocks we like better than Global Business Travel Group
- Most Volatile Stocks, What Investors Need to Know
- High-Yield Texas Instruments Could Hit New Highs Soon
- Dividend Screener: How to Evaluate Dividend Stocks Before Buying
- Pagaya Technologies: An AI Fintech That Insiders Are Buying
- The 3 Best Blue-Chip Stocks to Buy Now
- Higher Oil Prices Could Give NextEra’s Stock Earnings a Boost
Want to see what other hedge funds are holding GBTG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Global Business Travel Group, Inc. (NYSE:GBTG – Free Report).
Receive News & Ratings for Global Business Travel Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Business Travel Group and related companies with MarketBeat.com's FREE daily email newsletter.