Key Points
- Insider Eric Bock sold 64,780 GBTG shares at an average price of $9.46, generating $612,818.80 and reducing his position by 8.48% to 699,177 shares.
- Global Business Travel Group reported 37.9% year-over-year revenue growth to $870 million in its latest quarter, but earnings per share of $0.03 missed analyst expectations of $0.06.
- Analyst sentiment is cautious: six analysts rate the stock Hold and two rate it Buy, producing a consensus Hold rating and an average price target of $8.90, below the recent $9.47 share price.
Global Business Travel Group, Inc. (NYSE:GBTG - Get Free Report) insider Eric Bock sold 64,780 shares of Global Business Travel Group stock in a transaction on Friday, August 21st. The shares were sold at an average price of $9.46, for a total value of $612,818.80. Following the completion of the transaction, the insider owned 699,177 shares in the company, valued at approximately $6,614,214.42. The trade was a 8.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Global Business Travel Group Price Performance
Shares of GBTG stock opened at $9.47 on Wednesday. The business has a fifty day simple moving average of $9.42 and a 200 day simple moving average of $7.76. The company has a market cap of $4.95 billion, a P/E ratio of 55.74 and a beta of 0.93. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.88. Global Business Travel Group, Inc. has a twelve month low of $4.95 and a twelve month high of $9.54.
Global Business Travel Group (NYSE:GBTG - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.03). The company had revenue of $870.00 million during the quarter, compared to analyst estimates of $810.60 million. Global Business Travel Group had a net margin of 2.77% and a return on equity of 2.47%. The company's revenue for the quarter was up 37.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.03 earnings per share. On average, sell-side analysts forecast that Global Business Travel Group, Inc. will post 0.18 EPS for the current fiscal year.
Analyst Ratings Changes
A number of analysts have weighed in on GBTG shares. Lake Street Capital set a $9.50 target price on shares of Global Business Travel Group in a research note on Monday, May 4th. Wall Street Zen lowered Global Business Travel Group from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Global Business Travel Group in a report on Wednesday, August 12th. BTIG Research lowered Global Business Travel Group from a "buy" rating to a "neutral" rating in a research note on Monday, May 4th. Finally, Evercore cut Global Business Travel Group from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $8.90.
Get Our Latest Research Report on GBTG
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Attestor Capital Ltd acquired a new stake in Global Business Travel Group during the fourth quarter worth approximately $67,917,000. Lazard Asset Management LLC lifted its stake in Global Business Travel Group by 439.0% in the first quarter. Lazard Asset Management LLC now owns 545,145 shares of the company's stock valued at $3,042,000 after buying an additional 444,003 shares during the period. Quantinno Capital Management LP lifted its stake in Global Business Travel Group by 720.9% in the first quarter. Quantinno Capital Management LP now owns 208,118 shares of the company's stock valued at $1,161,000 after buying an additional 182,765 shares during the period. Monarch Alternative Capital LP boosted its holdings in shares of Global Business Travel Group by 9.3% during the 1st quarter. Monarch Alternative Capital LP now owns 7,800,000 shares of the company's stock worth $43,524,000 after buying an additional 661,418 shares in the last quarter. Finally, Sei Investments Co. grew its position in shares of Global Business Travel Group by 90.3% during the 1st quarter. Sei Investments Co. now owns 343,833 shares of the company's stock worth $1,919,000 after buying an additional 163,173 shares during the period. 82.46% of the stock is 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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