Global Business Travel Group (NYSE:GBTG) Sees Strong Trading Volume – Here’s What Happened

Global Business Travel Group, Inc. (NYSE:GBTG) saw unusually-strong trading volume on Wednesday . 11,483,009 shares traded hands during trading, an increase of 365% from the previous session’s volume of 2,470,498 shares.The stock last traded at $9.4650 and had previously closed at $9.46.

Analyst Ratings Changes

Several analysts have commented on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Global Business Travel Group in a report 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. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Global Business Travel Group presently has a consensus rating of “Hold” and an average target price of $8.90.

Global Business Travel Group Price Performance

The stock’s 50 day moving average is $9.43 and its two-hundred day moving average is $7.90. The stock has a market capitalization of $4.94 billion, a PE ratio of 55.68 and a beta of 0.93. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.20 and a quick ratio of 1.20.

Global Business Travel Group (NYSE:GBTG) last released its quarterly earnings data 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). Global Business Travel Group had a return on equity of 2.47% and a net margin of 2.77%.The company had revenue of $870.00 million for the quarter, compared to analyst estimates of $810.60 million. During the same period in the previous year, the business posted $0.03 EPS. The firm’s revenue for the quarter was up 37.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Global Business Travel Group, Inc. will post 0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Eric J. Bock sold 125,030 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $9.36, for a total value of $1,170,280.80. Following the completion of the transaction, the insider owned 871,342 shares in the company, valued at $8,155,761.12. This trade represents a 12.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Karen A. Williams sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $9.43, for a total value of $188,600.00. Following the sale, the chief financial officer directly owned 548,257 shares in the company, valued at $5,170,063.51. This trade represents a 3.52% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 2,350,125 shares of company stock valued at $22,037,793. 5.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Global Business Travel Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC boosted its position in Global Business Travel Group by 169.9% during the first quarter. AQR Capital Management LLC now owns 64,060 shares of the company’s stock worth $465,000 after acquiring an additional 40,328 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Global Business Travel Group by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,576 shares of the company’s stock worth $541,000 after purchasing an additional 3,238 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Global Business Travel Group by 66.6% in the first quarter. Goldman Sachs Group Inc. now owns 736,472 shares of the company’s stock valued at $5,347,000 after purchasing an additional 294,527 shares during the period. Creative Planning acquired a new position in Global Business Travel Group in the second quarter valued at $67,000. Finally, Legal & General Group Plc lifted its position in Global Business Travel Group by 4.0% during the second quarter. Legal & General Group Plc now owns 112,365 shares of the company’s stock worth $708,000 after buying an additional 4,308 shares during the period. 82.46% of the stock is currently owned by hedge funds and other 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.