American Express Co Invests $1.02 Billion in Global Business Travel Group, Inc. (NYSE:GBTG)

American Express Co acquired a new stake in Global Business Travel Group, Inc. (NYSE:GBTG) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 157,786,199 shares of the company’s stock, valued at approximately $1,017,721,000. Global Business Travel Group comprises about 97.6% of American Express Co’s portfolio, making the stock its biggest holding. American Express Co owned 33.79% of Global Business Travel Group at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC acquired a new position in Global Business Travel Group in the 2nd quarter worth about $47,000. Victory Capital Management Inc. acquired a new position in shares of Global Business Travel Group in the third quarter valued at approximately $157,000. Bank of New York Mellon Corp raised its holdings in Global Business Travel Group by 10.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 95,671 shares of the company’s stock valued at $526,000 after buying an additional 9,197 shares during the last quarter. Ballast Asset Management LP acquired a new stake in Global Business Travel Group during the 3rd quarter worth approximately $1,259,000. Finally, Dendur Capital LP grew its holdings in Global Business Travel Group by 20.1% during the 3rd quarter. Dendur Capital LP now owns 2,450,000 shares of the company’s stock worth $13,475,000 after acquiring an additional 410,114 shares during the last quarter. 82.46% of the stock is currently owned by institutional investors and hedge funds.

Global Business Travel Group Price Performance

Shares of Global Business Travel Group stock remained flat at $6.00 during trading on Wednesday. 120,005 shares of the company traded hands, compared to its average volume of 149,498. The stock has a market capitalization of $2.83 billion, a PE ratio of -14.62 and a beta of 0.63. Global Business Travel Group, Inc. has a one year low of $4.49 and a one year high of $8.05. The firm’s 50 day moving average is $5.86 and its 200-day moving average is $5.82. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.64 and a current ratio of 1.64.

Global Business Travel Group (NYSE:GBTG) last issued its quarterly earnings results on Tuesday, March 5th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.04). The company had revenue of $549.00 million during the quarter, compared to analyst estimates of $540.21 million. Global Business Travel Group had a negative net margin of 2.71% and a negative return on equity of 4.81%. On average, equities analysts predict that Global Business Travel Group, Inc. will post 0.07 EPS for the current fiscal year.

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