Key Points
- Insider sale: Eric Bock sold 10,000 Global Business Travel Group shares at an average price of $9.46, generating $94,600. He retains 763,957 shares, worth approximately $7.23 million.
- Quarterly results: The company reported quarterly revenue of $870 million, up 37.9% year over year and above estimates, but EPS of $0.03 missed consensus expectations of $0.06.
- Analyst outlook: GBTG has an overall “Hold” consensus rating from analysts, with a $8.90 average price target versus a recent share price of $9.46.
Global Business Travel Group, Inc. (NYSE:GBTG - Get Free Report) insider Eric Bock sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $9.46, for a total value of $94,600.00. Following the completion of the sale, the insider owned 763,957 shares in the company, valued at approximately $7,227,033.22. This represents a 1.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Global Business Travel Group Stock Performance
GBTG opened at $9.46 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a fifty day moving average price of $9.41 and a 200 day moving average price of $7.71. Global Business Travel Group, Inc. has a 1 year low of $4.95 and a 1 year high of $9.54. The stock has a market cap of $4.94 billion, a P/E ratio of 55.65 and a beta of 0.93.
Global Business Travel Group (NYSE:GBTG - Get Free Report) last announced its quarterly 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). The firm had revenue of $870.00 million for the quarter, compared to analysts' expectations of $810.60 million. Global Business Travel Group had a return on equity of 2.47% and a net margin of 2.77%.The business's quarterly revenue was up 37.9% on a year-over-year basis. During the same period last year, the company posted $0.03 earnings per share. Equities research analysts anticipate that Global Business Travel Group, Inc. will post 0.18 earnings per share for the current year.
Institutional Trading of Global Business Travel Group
Hedge funds and other institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP acquired a new stake in Global Business Travel Group during the third quarter worth about $26,000. Northwestern Mutual Wealth Management Co. purchased a new position in Global Business Travel Group during the fourth quarter worth about $32,000. Advisory Services Network LLC acquired a new position in Global Business Travel Group in the 3rd quarter valued at about $61,000. Creative Planning acquired a new position in Global Business Travel Group in the 2nd quarter valued at about $67,000. Finally, Russell Investments Group Ltd. grew its stake in shares of Global Business Travel Group by 1,238.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 9,024 shares of the company's stock valued at $73,000 after buying an additional 8,350 shares during the period. 82.46% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on GBTG shares. Evercore lowered shares of Global Business Travel Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Weiss Ratings restated a "hold (c-)" rating on shares of Global Business Travel Group in a research note on Wednesday, August 12th. Wall Street Zen cut Global Business Travel Group from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. BTIG Research downgraded Global Business Travel Group from a "buy" rating to a "neutral" rating in a research report on Monday, May 4th. Finally, Lake Street Capital set a $9.50 price objective on Global Business Travel Group in a report on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $8.90.
Read Our Latest Analysis on Global Business Travel Group
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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