Fintel reports that on November 22, 2024, UBS initiated coverage of Global Business Travel Group (NYSE:GBTG) with a Buy recommendation.
Analyst Price Forecast Suggests 2.54% Downside
As of November 21, 2024, the average one-year price target for Global Business Travel Group is $9.20/share. The forecasts range from a low of $7.07 to a high of $10.50. The average price target represents a decrease of 2.54% from its latest reported closing price of $9.44 / share.
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The projected annual revenue for Global Business Travel Group is 2,607MM, an increase of 9.49%. The projected annual non-GAAP EPS is 0.38.
What is the Fund Sentiment?
There are 191 funds or institutions reporting positions in Global Business Travel Group. This is an increase of 39 owner(s) or 25.66% in the last quarter. Average portfolio weight of all funds dedicated to GBTG is 0.75%, an increase of 22.76%. Total shares owned by institutions increased in the last three months by 5.70% to 249,885K shares. 
The put/call ratio of GBTG is 0.32, indicating a bullish outlook.
What are Other Shareholders Doing?
American Express holds 157,786K shares representing 33.54% ownership of the company. No change in the last quarter.
Apollo Management Holdings holds 25,707K shares representing 5.46% ownership of the company. No change in the last quarter.
Ares Management holds 11,397K shares representing 2.42% ownership of the company. In its prior filing, the firm reported owning 10,884K shares , representing an increase of 4.50%. The firm increased its portfolio allocation in GBTG by 14.07% over the last quarter.
BlackRock holds 7,982K shares representing 1.70% ownership of the company.
Beach Point Capital Management holds 5,026K shares representing 1.07% ownership of the company. In its prior filing, the firm reported owning 7,062K shares , representing a decrease of 40.50%. The firm decreased its portfolio allocation in GBTG by 21.13% over the last quarter.
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This story originally appeared on Fintel.
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