Global Business Travel Group (NYSE:GBTG) Shares Gap Up to $5.97

Global Business Travel Group, Inc. (NYSE:GBTG) gapped up before the market opened on Tuesday . The stock had previously closed at $5.97, but opened at $6.19. Global Business Travel Group shares last traded at $6.19, with a volume of 210,169 shares.

Analysts Set New Price Targets

Separately, Citigroup raised Global Business Travel Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $7.50 to $8.00 in a research report on Friday, December 15th.

Global Business Travel Group Stock Down 1.8 %

The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 1.12. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of -14.63 and a beta of 0.64. The firm has a 50-day moving average of $5.81 and a two-hundred day moving average of $5.75.

Hedge Funds Weigh In On Global Business Travel Group

A number of hedge funds have recently modified their holdings of GBTG. Rockefeller Capital Management L.P. grew its position in Global Business Travel Group by 8.2% during the 1st quarter. Rockefeller Capital Management L.P. now owns 21,623 shares of the company’s stock worth $143,000 after acquiring an additional 1,630 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Global Business Travel Group by 53.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,650 shares of the company’s stock valued at $43,000 after purchasing an additional 2,323 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Global Business Travel Group by 17.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 16,563 shares of the company’s stock valued at $107,000 after purchasing an additional 2,471 shares during the period. Nuveen Asset Management LLC raised its stake in Global Business Travel Group by 2.6% during the 4th quarter. Nuveen Asset Management LLC now owns 115,050 shares of the company’s stock worth $742,000 after buying an additional 2,903 shares during the period. Finally, Prelude Capital Management LLC raised its stake in Global Business Travel Group by 13.4% during the 3rd quarter. Prelude Capital Management LLC now owns 48,645 shares of the company’s stock worth $275,000 after buying an additional 5,733 shares during the period. 82.46% of the stock is owned by institutional investors and hedge funds.

Global Business Travel Group Company 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 including airlines, hotels, ground transportation, and aggregators; and third-party travel agencies.