Global Business Travel Group (NYSE:GBTG) Insider Evan Konwiser Sells 356,222 Shares of Stock

Global Business Travel Group, Inc. (NYSE:GBTG) insider Evan Konwiser sold 356,222 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $9.34, for a total transaction of $3,327,113.48. Following the completion of the sale, the insider owned 502,641 shares in the company, valued at $4,694,666.94. This represents a 41.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Global Business Travel Group Stock Performance

NYSE GBTG opened at $9.36 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.18 and a current ratio of 1.18. Global Business Travel Group, Inc. has a 52-week low of $4.95 and a 52-week high of $9.54. The firm has a 50-day moving average of $7.80 and a 200-day moving average of $7.09. The stock has a market cap of $4.88 billion, a PE ratio of 55.03 and a beta of 0.93.

Global Business Travel Group (NYSE:GBTG) last released its quarterly earnings data on Monday, May 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.05. The company had revenue of $840.00 million during the quarter, compared to the consensus estimate of $814.55 million. Global Business Travel Group had a return on equity of 2.51% and a net margin of 2.93%.The company’s quarterly revenue was up 35.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Global Business Travel Group, Inc. will post 0.18 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GBTG. Quantbot Technologies LP purchased a new stake in Global Business Travel Group during the third quarter valued at about $26,000. Northwestern Mutual Wealth Management Co. bought a new position in Global Business Travel Group in the 4th quarter worth approximately $32,000. Advisory Services Network LLC bought a new stake in shares of Global Business Travel Group in the third quarter valued at about $61,000. Creative Planning bought a new position in shares of Global Business Travel Group during the 2nd quarter worth approximately $67,000. Finally, Russell Investments Group Ltd. grew its stake in Global Business Travel Group by 1,238.9% during the third quarter. Russell Investments Group Ltd. now owns 9,024 shares of the company’s stock worth $73,000 after buying an additional 8,350 shares during the last quarter. Institutional investors own 82.46% of the company’s stock.

Analysts Set New Price Targets

GBTG has been the subject of several recent analyst reports. Morgan Stanley dropped their target price on shares of Global Business Travel Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Monday, March 9th. BTIG Research cut shares of Global Business Travel Group from a “buy” rating to a “neutral” rating in a report on Monday, May 4th. Weiss Ratings upgraded shares of Global Business Travel Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. UBS Group cut their price objective on Global Business Travel Group from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, March 10th. Finally, Bank of America began coverage on Global Business Travel Group in a research note on Tuesday, April 7th. They set a “neutral” rating and a $6.50 target price for the company. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $8.90.

Global Business Travel Group Company Profile

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.