Global Business Travel Group, Inc. (NYSE:GBTG – Get Free Report) was the target of a significant decline in short interest in July. As of July 31st, there was short interest totalling 3,660,000 shares, a decline of 7.1% from the July 15th total of 3,940,000 shares. Approximately 2.1% of the shares of the stock are short sold. Based on an average daily volume of 833,200 shares, the days-to-cover ratio is presently 4.4 days.
Analyst Ratings Changes
Several equities analysts have recently commented on GBTG shares. Evercore ISI boosted 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 research report on Wednesday, August 7th. Citigroup boosted their price objective on shares of Global Business Travel Group from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Thursday, August 8th.
Get Our Latest Stock Report on Global Business Travel Group
Global Business Travel Group Stock Down 2.3 %
Institutional Investors Weigh In On Global Business Travel Group
Several hedge funds and other institutional investors have recently made changes to their positions in GBTG. Susquehanna Fundamental Investments LLC acquired a new stake in Global Business Travel Group in the second quarter valued at approximately $143,000. The Manufacturers Life Insurance Company lifted its stake in shares of Global Business Travel Group by 70.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 54,588 shares of the company’s stock valued at $360,000 after acquiring an additional 22,650 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Global Business Travel Group in the 2nd quarter valued at $489,000. Amalgamated Bank boosted its holdings in shares of Global Business Travel Group by 299.1% during the 2nd 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. Finally, Renaissance Technologies LLC grew its position in Global Business Travel Group by 431.2% during the 2nd quarter. Renaissance Technologies LLC now owns 105,700 shares of the company’s stock worth $698,000 after acquiring an additional 85,800 shares during the last quarter. 82.46% of the stock is owned by institutional investors.
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.
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