Global Business Travel Group, Inc. (NYSE:GBTG) is Taconic Capital Advisors LP’s 8th Largest Position

Taconic Capital Advisors LP lowered its position 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 (SEC). The fund owned 531,539 shares of the company’s stock after selling 245,792 shares during the period. Global Business Travel Group makes up approximately 2.2% of Taconic Capital Advisors LP’s investment portfolio, making the stock its 8th biggest holding. Taconic Capital Advisors LP’s holdings in Global Business Travel Group were worth $4,088,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Amalgamated Bank raised its stake in shares of Global Business Travel Group by 299.1% during the second quarter. Amalgamated Bank now owns 4,342 shares of the company’s stock valued at $29,000 after acquiring an additional 3,254 shares in the last quarter. Vanguard Group Inc. raised its stake in Global Business Travel Group by 1.1% in the first quarter. Vanguard Group Inc. now owns 971,900 shares of the company’s stock worth $5,841,000 after buying an additional 10,446 shares in the last quarter. Principal Financial Group Inc. bought a new position in Global Business Travel Group in the second quarter worth approximately $108,000. The Manufacturers Life Insurance Company raised its stake in Global Business Travel Group by 31.7% in the third 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 in the last quarter. Finally, Entropy Technologies LP bought a new position in Global Business Travel Group in the third quarter worth approximately $145,000. Institutional investors own 82.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Citigroup boosted their price objective on shares of Global Business Travel Group from $9.00 to $9.50 and gave the stock a “buy” rating in a research note on Friday, October 4th. UBS Group assumed coverage on shares of Global Business Travel Group in a research note on Friday, November 22nd. They issued a “buy” rating and a $11.00 price objective for the company. Finally, Evercore ISI boosted their price objective on shares of Global Business Travel Group from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th.

Global Business Travel Group Price Performance

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

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

Global Business Travel Group declared that its Board of Directors has authorized a share repurchase program on Tuesday, November 5th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to buy up to 8.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board 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.