Global Business Travel Group, Inc. (NYSE:GBTG) Short Interest Down 9.2% in April

Global Business Travel Group, Inc. (NYSE:GBTG) was the target of a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 1,390,000 shares, a decline of 9.2% from the March 31st total of 1,530,000 shares. Based on an average daily volume of 156,400 shares, the days-to-cover ratio is presently 8.9 days. Approximately 0.4% of the shares of the company are sold short.

Global Business Travel Group Stock Performance

Shares of GBTG stock traded up $0.02 during trading hours on Monday, reaching $6.02. 734,504 shares of the company traded hands, compared to its average volume of 161,209. The firm has a 50-day moving average price of $5.86 and a 200 day moving average price of $5.83. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.64 and a quick ratio of 1.64. Global Business Travel Group has a 12-month low of $4.49 and a 12-month high of $8.05. The company has a market cap of $2.85 billion, a P/E ratio of -14.68 and a beta of 0.63.

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

Hedge Funds Weigh In On Global Business Travel Group

Several large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its position 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 acquiring an additional 9,197 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in Global Business Travel Group in the third quarter valued at about $157,000. Ballast Asset Management LP purchased a new stake in Global Business Travel Group in the third quarter valued at about $1,259,000. Dendur Capital LP raised its stake in Global Business Travel Group by 20.1% in the third quarter. Dendur Capital LP now owns 2,450,000 shares of the company’s stock valued at $13,475,000 after buying an additional 410,114 shares during the last quarter. Finally, Carronade Capital Management LP raised its stake in Global Business Travel Group by 5.4% in the third quarter. Carronade Capital Management LP now owns 3,473,562 shares of the company’s stock valued at $19,105,000 after buying an additional 176,404 shares during the last quarter. Institutional investors own 82.46% of the company’s stock.

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.