Global Business Travel Group, Inc. (NYSE:GBTG – Get Free Report ) has seen a significant increase in short interest during the month of July. As of July 15, short interest totaled 3,940,000 shares, up 64.9% from a total of 2,390,000 shares on June 30. Currently, 2.3% of the company’s shares are sold short. Based on the average daily trading volume of 784,900 shares, the days coverage ratio is currently at 5.0 days.
Hedge Fund Intervenes in Global Business Travel Group
Several hedge funds and other institutional investors recently modified their holdings in GBTG. Tower Research Capital LLC TRC increased its holdings in Global Business Travel Group by 53.7% in the fourth quarter. Tower Research Capital LLC TRC now holds 6,650 shares of the company’s stock valued at $43,000 after acquiring an additional 2,323 shares in the last quarter. ANTIPODES PARTNERS Ltd purchased a new stake in Global Business Travel Group in the first quarter valued at approximately $109,000. Ionic Capital Management LLC increased its holdings in Global Business Travel Group by 480.1% in the first quarter. Ionic Capital Management LLC now holds 131,245 shares of the company’s stock valued at $789,000 after purchasing an additional 108,619 shares during the period. Tidal Investments LLC acquired a new position in Global Business Travel Group during the first quarter, valued at approximately $3,383,000. Finally, Par Capital Management Inc. increased 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, valued at $4,966,000, after purchasing an additional 228,149 shares in the last quarter. 82.46% of the stock is currently owned by institutional investors and hedge funds.
Global Business Travel Group volume up 0.4%
Global Business Travel Group’s shares opened trading at $6.73 on Friday. Global Business Travel Group’s 52-week low is $4.49 and its 52-week high is $7.25. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of -17.26 and a beta of 0.62. The company’s 50-day moving average price is $6.42 and its 200-day moving average price is $6.07.
Global Business Travel Group Company Profile
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Global Business Travel Group, Inc provides a 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, airlines, hotels, ground transportation providers, travel content suppliers such as aggregators, and third-party travel agencies.
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