Global Business Travel Group (NYSE:GBTG) Reaches New 52-Week High – Here’s Why

Global Business Travel Group, Inc. (NYSE:GBTG)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $7.79 and last traded at $7.79, with a volume of 231999 shares traded. The stock had previously closed at $7.60.

Analyst Ratings Changes

GBTG has been the topic of a number of recent research reports. Evercore ISI upped their price target on Global Business Travel Group from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Citigroup upped their price objective on shares of Global Business Travel Group from $9.00 to $9.50 and gave the company a “buy” rating in a report on Friday, October 4th.

Global Business Travel Group Price Performance

The firm has a market cap of $3.71 billion, a P/E ratio of -20.15 and a beta of 0.64. The business’s fifty day simple moving average is $7.28 and its 200-day simple moving average is $6.63. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.11.

Global Business Travel Group (NYSE:GBTG) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.11. The company had revenue of $625.00 million for the quarter, compared to analyst estimates of $643.97 million. Global Business Travel Group had a negative return on equity of 1.26% and a negative net margin of 1.66%. As a group, analysts forecast that Global Business Travel Group, Inc. will post -0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Global Business Travel Group

Institutional investors and hedge funds have recently modified their holdings of the company. Amalgamated Bank increased its holdings in shares of Global Business Travel Group by 299.1% in the second quarter. Amalgamated Bank now owns 4,342 shares of the company’s stock worth $29,000 after purchasing an additional 3,254 shares during the period. Vanguard Group Inc. grew its position in Global Business Travel Group by 1.1% during the first quarter. Vanguard Group Inc. now owns 971,900 shares of the company’s stock worth $5,841,000 after buying an additional 10,446 shares in the last quarter. Principal Financial Group Inc. bought a new position in Global Business Travel Group in the 2nd quarter worth about $108,000. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Global Business Travel Group in the 1st quarter valued at about $109,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Global Business Travel Group during the 2nd quarter valued at about $143,000. 82.46% of the stock is owned by hedge funds and other institutional investors.

About Global Business Travel Group

Global Business Travel Group, Inc provides business-to-business (B2B) travel platform in the United States and internationally. The company's platform offers a suite of technology-enabled solutions to business travelers and clients; travel content suppliers, such as airlines, hotels, ground transportation, and aggregators; and third-party travel agencies.