Morgan Stanley initiated coverage on shares of Global Business Travel Group (NYSE:GBTG – Get Rating) in a report released on Wednesday, The Fly reports. The firm set an “equal weight” rating on the stock.
Separately, Redburn Partners began coverage on Global Business Travel Group in a research report on Tuesday, June 21st. They set a “buy” rating and a $12.50 price target on the stock.
Global Business Travel Group Stock Down 1.7 %
NYSE:GBTG opened at $7.12 on Wednesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.65 and a current ratio of 1.65. The firm has a 50-day moving average of $6.85. Global Business Travel Group has a 52-week low of $5.16 and a 52-week high of $10.02.
Hedge Funds Weigh In On Global Business Travel Group
Institutional investors have recently bought and sold shares of the business. Credit Suisse AG bought a new stake in shares of Global Business Travel Group in the second quarter valued at approximately $69,000. Virtu Financial LLC bought a new stake in shares of Global Business Travel Group in the second quarter valued at approximately $80,000. Prelude Capital Management LLC bought a new stake in shares of Global Business Travel Group in the second quarter valued at approximately $271,000. Cobalt Capital Management Inc. bought a new stake in shares of Global Business Travel Group in the second quarter valued at approximately $327,000. Finally, Dendur Capital LP bought a new stake in shares of Global Business Travel Group in the second quarter valued at approximately $876,000. Institutional investors and hedge funds own 18.27% of the company’s stock.
About Global Business Travel Group
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Global Business Travel Group, Inc provides business-to-business (B2B) travel platform. The company’s platform offers a suite of technology-enabled solutions to business travelers and corporate clients, travel content suppliers, and third-party travel agencies. Its platform manages travel, expenses, and meetings and events for companies.
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