Key Points
- CEO Paul Abbott sold 173,460 shares of Global Business Travel Group stock on June 8 for about $1.62 million at an average price of $9.36 per share, reducing his ownership by 4.89%.
- The company recently reported better-than-expected quarterly results, with EPS of $0.10 versus $0.05 expected and revenue of $840 million, up 35.3% from a year earlier.
- Despite recent analyst activity, Wall Street currently has a Hold consensus on GBTG, with a consensus price target of $8.90.
Global Business Travel Group, Inc. (NYSE:GBTG - Get Free Report) CFO Karen Williams sold 10,000 shares of Global Business Travel Group stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $9.35, for a total transaction of $93,500.00. Following the completion of the transaction, the chief financial officer directly owned 596,157 shares in the company, valued at $5,574,067.95. This represents a 1.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Global Business Travel Group Stock Performance
Global Business Travel Group stock opened at $9.35 on Thursday. The firm's 50 day simple moving average is $7.72 and its 200-day simple moving average is $7.08. The company has a market cap of $4.87 billion, a P/E ratio of 54.97 and a beta of 0.93. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.18 and a quick ratio of 1.18. Global Business Travel Group, Inc. has a fifty-two week low of $4.95 and a fifty-two week high of $9.54.
Global Business Travel Group (NYSE:GBTG - Get Free Report) last released its earnings results on Monday, May 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.05. The business had revenue of $840.00 million for the quarter, compared to the consensus estimate of $814.55 million. Global Business Travel Group had a net margin of 2.93% and a return on equity of 2.51%. The firm's revenue for the quarter was up 35.3% on a year-over-year basis. As a group, equities research analysts predict that Global Business Travel Group, Inc. will post 0.18 EPS for the current year.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on GBTG shares. Evercore downgraded shares of Global Business Travel Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 4th. Citigroup dropped their target price on shares of Global Business Travel Group from $11.00 to $9.00 and set a "buy" rating on the stock in a research report on Thursday, March 12th. Weiss Ratings raised shares of Global Business Travel Group from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, May 15th. Bank of America started coverage on shares of Global Business Travel Group in a research report on Tuesday, April 7th. They issued a "neutral" rating and a $6.50 target price on the stock. Finally, UBS Group dropped their target price on shares of Global Business Travel Group from $11.00 to $10.00 and set a "buy" rating on the stock in a research report on Tuesday, March 10th. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Global Business Travel Group presently has an average rating of "Hold" and an average target price of $8.90.
Read Our Latest Stock Report on Global Business Travel Group
Institutional Trading of Global Business Travel Group
A number of institutional investors have recently added to or reduced their stakes in the business. Redwood Capital Management LLC acquired a new stake in Global Business Travel Group in the third quarter valued at approximately $173,347,000. Vanguard Group Inc. lifted its stake in Global Business Travel Group by 24.7% in the fourth quarter. Vanguard Group Inc. now owns 13,857,451 shares of the company's stock valued at $106,010,000 after acquiring an additional 2,744,068 shares during the last quarter. Attestor Capital Ltd acquired a new stake in Global Business Travel Group in the fourth quarter valued at approximately $67,917,000. Monarch Alternative Capital LP lifted its stake in Global Business Travel Group by 9.3% in the first quarter. Monarch Alternative Capital LP now owns 7,800,000 shares of the company's stock valued at $43,524,000 after acquiring an additional 661,418 shares during the last quarter. Finally, Anchorage Capital Advisors L.P. acquired a new stake in Global Business Travel Group in the third quarter valued at approximately $58,073,000. 82.46% of the stock is currently owned by institutional investors and hedge funds.
Global Business Travel Group Company Profile
(
Get Free Report)
Global Business Travel Group (NYSE: GBTG), formerly known as American Express Global Business Travel, is a provider of end-to-end corporate travel management solutions. The company helps organizations plan, book and manage business travel, meetings and events through an integrated suite of services. Its offerings include traveller support, expense management, virtual and in-person meeting services, data analytics and duty-of-care solutions tailored to enterprise customers.
Operating under a global network of offices and digital platforms, Global Business Travel Group serves clients across the Americas, EMEA and Asia Pacific.
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