Key Points
- Insider selling: Global Business Travel Group President Andrew George Crawley sold 332,662 shares at an average of $9.43, worth approximately $3.14 million, reducing his ownership by 32.24%. He also sold 350,000 shares the previous day for $3.30 million.
- Quarterly results were mixed: Revenue rose 37.9% year over year to $870 million, beating expectations, but earnings per share of $0.03 fell short of the $0.06 consensus estimate.
- Analyst sentiment remains cautious: GBTG has a consensus “Hold” rating and an average price target of $8.90, below its reported opening price of $9.44.
Global Business Travel Group, Inc. (NYSE:GBTG - Get Free Report) CFO Karen Williams sold 20,000 shares of the business's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $9.43, for a total value of $188,600.00. Following the completion of the transaction, the chief financial officer owned 548,257 shares in the company, valued at $5,170,063.51. This trade represents a 3.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Global Business Travel Group Stock Up 0.1%
Global Business Travel Group stock opened at $9.44 on Friday. Global Business Travel Group, Inc. has a twelve month low of $4.95 and a twelve month high of $9.54. The stock has a 50 day moving average of $9.39 and a two-hundred day moving average of $7.55. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of 55.50 and a beta of 0.93.
Global Business Travel Group (NYSE:GBTG - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.03). Global Business Travel Group had a net margin of 2.77% and a return on equity of 2.47%. The company had revenue of $870.00 million during the quarter, compared to analyst estimates of $810.60 million. During the same period in the previous year, the firm posted $0.03 EPS. The company's revenue for the quarter was up 37.9% on a year-over-year basis. As a group, research analysts expect that Global Business Travel Group, Inc. will post 0.18 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp acquired a new stake in Global Business Travel Group in the second quarter valued at $4,108,000. Stoneridge Investment Partners LLC acquired a new position in shares of Global Business Travel Group during the 2nd quarter worth $95,000. Handelsbanken Fonder AB increased its holdings in shares of Global Business Travel Group by 28.2% in the 2nd quarter. Handelsbanken Fonder AB now owns 39,600 shares of the company's stock valued at $372,000 after purchasing an additional 8,700 shares in the last quarter. Amundi lifted its stake in shares of Global Business Travel Group by 145.3% in the first quarter. Amundi now owns 30,218 shares of the company's stock valued at $169,000 after purchasing an additional 17,899 shares during the period. Finally, California State Teachers Retirement System boosted its holdings in Global Business Travel Group by 43.0% during the first quarter. California State Teachers Retirement System now owns 127,138 shares of the company's stock worth $709,000 after buying an additional 38,242 shares in the last quarter. Institutional investors and hedge funds own 82.46% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have issued reports on the stock. Weiss Ratings raised shares of Global Business Travel Group from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, May 15th. Wall Street Zen cut shares of Global Business Travel Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Lake Street Capital set a $9.50 price target on shares of Global Business Travel Group in a research note on Monday, May 4th. Evercore cut shares of Global Business Travel Group from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. Finally, BTIG Research cut shares of Global Business Travel Group from a "buy" rating to a "neutral" rating in a report on Monday, May 4th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $8.90.
Read Our Latest Stock Report on GBTG
About Global Business Travel Group
(
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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