Attestor Capital Ltd Takes Position in Global Business Travel Group, Inc. $GBTG

Attestor Capital Ltd acquired a new stake in Global Business Travel Group, Inc. (NYSE:GBTG) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 8,878,004 shares of the company’s stock, valued at approximately $67,917,000. Global Business Travel Group comprises 32.1% of Attestor Capital Ltd’s portfolio, making the stock its biggest holding.

A number of other hedge funds have also modified their holdings of GBTG. Monarch Alternative Capital LP acquired a new position in Global Business Travel Group in the 3rd quarter valued at about $57,680,000. Anchorage Capital Advisors L.P. acquired a new stake in Global Business Travel Group during the 3rd quarter worth approximately $58,073,000. SG Americas Securities LLC acquired a new stake in Global Business Travel Group during the 4th quarter worth approximately $1,667,000. Boundary Creek Advisors LP purchased a new position in shares of Global Business Travel Group in the 3rd quarter valued at approximately $22,911,000. Finally, PB Investment Partners L.P. grew its stake in shares of Global Business Travel Group by 11.3% in the 3rd quarter. PB Investment Partners L.P. now owns 930,119 shares of the company’s stock valued at $7,515,000 after purchasing an additional 94,623 shares during the last quarter. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

Global Business Travel Group Stock Performance

NYSE GBTG opened at $9.37 on Friday. The stock has a market capitalization of $4.88 billion, a price-to-earnings ratio of 55.09 and a beta of 0.93. The business’s 50 day moving average is $8.18 and its two-hundred day moving average is $7.15. Global Business Travel Group, Inc. has a 12-month low of $4.95 and a 12-month high of $9.54. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.90.

Global Business Travel Group (NYSE:GBTG) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.05 by $0.05. Global Business Travel Group had a return on equity of 2.51% and a net margin of 2.93%.The business had revenue of $840.00 million during the quarter, compared to analysts’ expectations of $814.55 million. Global Business Travel Group’s quarterly revenue was up 35.3% compared to the same quarter last year. Research analysts expect that Global Business Travel Group, Inc. will post 0.18 EPS for the current year.

Insider Activity

In other Global Business Travel Group news, CFO Karen A. Williams sold 10,000 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $9.35, for a total transaction of $93,500.00. Following the sale, the chief financial officer directly owned 596,157 shares in the company, valued at approximately $5,574,067.95. The trade was a 1.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric J. Bock sold 125,030 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $9.36, for a total transaction of $1,170,280.80. Following the sale, the insider owned 871,342 shares in the company, valued at $8,155,761.12. The trade was a 12.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,572,683 shares of company stock valued at $14,704,271 over the last three months. 5.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on GBTG. Citigroup cut their price target on Global Business Travel Group from $11.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday, March 12th. UBS Group lowered their price objective on shares of Global Business Travel Group from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, March 10th. Bank of America initiated coverage on shares of Global Business Travel Group in a research note on Tuesday, April 7th. They issued a “neutral” rating and a $6.50 price objective on the stock. Weiss Ratings upgraded shares of Global Business Travel Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Finally, BTIG Research cut shares of Global Business Travel Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 4th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $8.90.

About Global Business Travel Group

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.