First Trust Advisors LP cut its holdings in shares of Global Business Travel Group, Inc. (NYSE:GBTG – Free Report) by 29.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 407,016 shares of the company’s stock after selling 168,968 shares during the period. First Trust Advisors LP’s holdings in Global Business Travel Group were worth $2,271,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Redwood Capital Management LLC acquired a new position in shares of Global Business Travel Group during the 3rd quarter worth approximately $173,347,000. Vanguard Group Inc. lifted its holdings in Global Business Travel Group by 24.7% during the fourth quarter. Vanguard Group Inc. now owns 13,857,451 shares of the company’s stock valued at $106,010,000 after purchasing an additional 2,744,068 shares in the last quarter. Attestor Capital Ltd acquired a new stake in shares of Global Business Travel Group in the fourth quarter valued at about $67,917,000. Dimensional Fund Advisors LP grew its position in shares of Global Business Travel Group by 28.2% in the first quarter. Dimensional Fund Advisors LP now owns 4,255,603 shares of the company’s stock valued at $23,741,000 after purchasing an additional 936,989 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Global Business Travel Group by 21.7% during the fourth quarter. Geode Capital Management LLC now owns 2,894,872 shares of the company’s stock worth $22,150,000 after purchasing an additional 516,047 shares in the last quarter. Institutional investors and hedge funds own 82.46% of the company’s stock.
Insider Buying and Selling at Global Business Travel Group
In related news, President Andrew George Crawley sold 350,000 shares of Global Business Travel Group stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $9.43, for a total transaction of $3,300,500.00. Following the transaction, the president owned 1,031,838 shares in the company, valued at approximately $9,730,232.34. This trade represents a 25.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Eric J. Bock sold 125,030 shares of Global Business Travel Group stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $9.36, for a total value of $1,170,280.80. Following the transaction, the insider owned 871,342 shares in the company, valued at approximately $8,155,761.12. The trade was a 12.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 company insiders.
Global Business Travel Group Stock Performance
Global Business Travel Group (NYSE:GBTG – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.03). The business had revenue of $870.00 million for the quarter, compared to analysts’ expectations of $810.60 million. Global Business Travel Group had a net margin of 2.77% and a return on equity of 2.47%. The firm’s revenue was up 37.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.03 EPS. As a group, sell-side analysts expect that Global Business Travel Group, Inc. will post 0.18 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on GBTG shares. BTIG Research lowered shares of Global Business Travel Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 4th. Evercore cut Global Business Travel Group from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Lake Street Capital set a $9.50 target price on Global Business Travel Group in a research report on Monday, May 4th. Weiss Ratings raised Global Business Travel Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Finally, Wall Street Zen cut Global Business Travel Group from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Global Business Travel Group presently has a consensus rating of “Hold” and a consensus price target of $8.90.
Check Out Our Latest Report on Global Business Travel Group
Global Business Travel Group Profile
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.
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