Global Business Travel Group, Inc. (NYSE:GBTG – Get Free Report) was the recipient of a significant decrease in short interest in July. As of July 31st, there was short interest totalling 3,660,000 shares, a decrease of 7.1% from the July 15th total of 3,940,000 shares. Based on an average daily trading volume, of 833,200 shares, the days-to-cover ratio is currently 4.4 days. Currently, 2.1% of the shares of the stock are sold short.
Global Business Travel Group Stock Performance
Shares of GBTG opened at $6.92 on Wednesday. Global Business Travel Group has a 12-month low of $4.49 and a 12-month high of $7.16. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.15. The company has a market cap of $3.27 billion, a PE ratio of -17.74 and a beta of 0.62. The stock has a 50-day moving average price of $6.62 and a 200-day moving average price of $6.18.
Institutional Investors Weigh In On Global Business Travel Group
A number of institutional investors and hedge funds have recently bought and sold shares of GBTG. American Express Co bought a new position in shares of Global Business Travel Group in the 4th quarter worth $1,017,721,000. Bank of New York Mellon Corp increased its stake in Global Business Travel Group by 1,116.6% in the second quarter. Bank of New York Mellon Corp now owns 1,007,861 shares of the company’s stock valued at $6,652,000 after acquiring an additional 925,018 shares during the last quarter. Tidal Investments LLC purchased a new stake in Global Business Travel Group during the first quarter valued at about $3,383,000. Par Capital Management Inc. lifted its stake in Global Business Travel Group by 42.1% during the fourth quarter. Par Capital Management Inc. now owns 770,000 shares of the company’s stock worth $4,966,000 after purchasing an additional 228,149 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Global Business Travel Group by 419.3% in the 2nd quarter. Rhumbline Advisers now owns 143,883 shares of the company’s stock worth $950,000 after purchasing an additional 116,175 shares in the last quarter. 82.46% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Read Our Latest Analysis on GBTG
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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