Harvest Fund Management Co. Ltd Invests $439,000 in Global Business Travel Group, Inc. (NYSE:GBTG)

Harvest Fund Management Co. Ltd purchased a new position in shares of Global Business Travel Group, Inc. (NYSE:GBTG) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 47,331 shares of the company’s stock, valued at approximately $439,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quest Partners LLC acquired a new position in Global Business Travel Group in the 3rd quarter valued at about $610,000. Intech Investment Management LLC acquired a new position in Global Business Travel Group in the 3rd quarter valued at about $219,000. Charles Schwab Investment Management Inc. raised its stake in 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 valued at $6,202,000 after purchasing an additional 237,682 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in 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 valued at $553,000 after purchasing an additional 17,313 shares during the last quarter. Finally, Advantage Alpha Capital Partners LP acquired a new position in Global Business Travel Group in the 3rd quarter valued at about $2,077,000. Institutional investors and hedge funds own 82.46% of the company’s stock.

Global Business Travel Group Stock Down 2.0 %

Shares of NYSE:GBTG opened at $7.58 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.56 and a current ratio of 1.56. Global Business Travel Group, Inc. has a 1 year low of $5.30 and a 1 year high of $9.60. The stock has a market capitalization of $3.63 billion, a P/E ratio of -21.06 and a beta of 0.72. The stock has a 50-day simple moving average of $8.51 and a 200-day simple moving average of $8.40.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GBTG shares. BTIG Research started coverage on shares of Global Business Travel Group in a research note on Tuesday. They issued a “buy” rating and a $10.00 target price for the company. Morgan Stanley lifted their price target on Global Business Travel Group from $7.00 to $9.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Finally, UBS Group assumed coverage on Global Business Travel Group in a report on Friday, November 22nd. They issued a “buy” rating and a $11.00 price target for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.90.

Global Business Travel Group Profile

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.