Taconic Capital Advisors LP Has $4.09 Million Holdings in Global Business Travel Group, Inc. (NYSE:GBTG)

Taconic Capital Advisors LP reduced its stake in Global Business Travel Group, Inc. (NYSE:GBTG) by 31.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 531,539 shares of the company’s stock after selling 245,792 shares during the period. Global Business Travel Group accounts for 2.2% of Taconic Capital Advisors LP’s holdings, making the stock its 8th biggest holding. Taconic Capital Advisors LP owned 0.11% of Global Business Travel Group worth $4,088,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GBTG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Global Business Travel Group in the third quarter valued at about $984,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Global Business Travel Group in the 3rd quarter worth approximately $252,000. Advantage Alpha Capital Partners LP purchased a new stake in Global Business Travel Group in the 3rd quarter worth approximately $2,077,000. The Manufacturers Life Insurance Company increased its holdings in shares of Global Business Travel Group by 31.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 71,901 shares of the company’s stock worth $553,000 after buying an additional 17,313 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Global Business Travel Group by 41.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 806,519 shares of the company’s stock worth $6,202,000 after buying an additional 237,682 shares during the last quarter. 82.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on GBTG shares. Evercore ISI increased their target price on shares of Global Business Travel Group from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Citigroup raised their target price on shares of Global Business Travel Group from $9.00 to $9.50 and gave the stock a “buy” rating in a research report on Friday, October 4th. Finally, UBS Group initiated coverage on shares of Global Business Travel Group in a research report on Friday, November 22nd. They set a “buy” rating and a $11.00 price target for the company.

Global Business Travel Group Price Performance

Shares of NYSE:GBTG opened at $9.29 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.56 and a quick ratio of 1.56. Global Business Travel Group, Inc. has a 1-year low of $4.49 and a 1-year high of $9.60. The firm’s 50 day simple moving average is $8.07 and its two-hundred day simple moving average is $7.13. The company has a market capitalization of $4.37 billion, a P/E ratio of -25.81 and a beta of 0.63.

Global Business Travel Group (NYSE:GBTG) last issued its earnings results on Tuesday, November 5th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.14). The firm had revenue of $597.00 million during the quarter, compared to the consensus estimate of $611.89 million. Global Business Travel Group had a negative return on equity of 9.70% and a negative net margin of 7.06%. During the same period in the prior year, the company posted ($0.02) EPS. Research analysts expect that Global Business Travel Group, Inc. will post -0.17 EPS for the current fiscal year.

Global Business Travel Group declared that its board has approved a stock buyback program on Tuesday, November 5th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to buy up to 8.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.