Insider Selling: Global Business Travel Group (NYSE:GBTG) CEO Sells $1,623,585.60 in Stock

Global Business Travel Group, Inc. (NYSE:GBTG) CEO Paul Abbott sold 173,460 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $9.36, for a total transaction of $1,623,585.60. Following the completion of the transaction, the chief executive officer directly owned 3,373,751 shares of the company’s stock, valued at approximately $31,578,309.36. This represents a 4.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Global Business Travel Group Trading Down 0.1%

Shares of NYSE GBTG opened at $9.36 on Friday. Global Business Travel Group, Inc. has a 1-year low of $4.95 and a 1-year high of $9.54. The company has a market cap of $4.88 billion, a PE ratio of 55.03 and a beta of 0.93. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.90. The company has a 50-day moving average of $7.87 and a two-hundred day moving average of $7.11.

Global Business Travel Group (NYSE:GBTG) last announced its earnings results on Monday, May 4th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. Global Business Travel Group had a net margin of 2.93% and a return on equity of 2.51%. The company had revenue of $840.00 million during the quarter, compared to the consensus estimate of $814.55 million. Global Business Travel Group’s quarterly revenue was up 35.3% on a year-over-year basis. As a group, equities analysts expect that Global Business Travel Group, Inc. will post 0.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GBTG has been the subject of a number of research analyst reports. Evercore downgraded shares of Global Business Travel Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft set a $8.20 price target on shares of Global Business Travel Group in a research note on Wednesday, March 11th. Wall Street Zen downgraded shares of Global Business Travel Group from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. BTIG Research downgraded shares of Global Business Travel Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 4th. Finally, UBS Group dropped their price target on shares of Global Business Travel Group from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, March 10th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Global Business Travel Group has a consensus rating of “Hold” and a consensus price target of $8.90.

Institutional Investors Weigh In On Global Business Travel Group

A number of institutional investors and hedge funds have recently modified their holdings of GBTG. Redwood Capital Management LLC bought a new stake in shares of Global Business Travel Group during the third quarter worth approximately $173,347,000. Attestor Capital Ltd bought a new stake in shares of Global Business Travel Group during the fourth quarter worth approximately $67,917,000. Anchorage Capital Advisors L.P. bought a new stake in shares of Global Business Travel Group during the third quarter worth approximately $58,073,000. Monarch Alternative Capital LP bought a new stake in shares of Global Business Travel Group during the third quarter worth approximately $57,680,000. Finally, Vanguard Group Inc. raised its stake in shares of Global Business Travel Group by 24.7% during the fourth quarter. Vanguard Group Inc. now owns 13,857,451 shares of the company’s stock worth $106,010,000 after buying an additional 2,744,068 shares during the last quarter. 82.46% of the stock is owned by institutional investors.

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.