Global Business Travel Group (NYSE:GBTG) Sets New 12-Month High – Here’s What Happened

Global Business Travel Group, Inc. (NYSE:GBTG) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $9.56 and last traded at $9.4850, with a volume of 36909 shares changing hands. The stock had previously closed at $9.48.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Global Business Travel Group in a report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $8.90.

Global Business Travel Group Price Performance

The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.20 and a current ratio of 1.20. The stock’s 50 day simple moving average is $9.44 and its two-hundred day simple moving average is $8.02. The firm has a market capitalization of $4.95 billion, a PE ratio of 55.79 and a beta of 0.93.

Global Business Travel Group (NYSE:GBTG) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.03). The company had revenue of $870.00 million for the quarter, compared to analysts’ expectations of $810.60 million. Global Business Travel Group had a return on equity of 2.47% and a net margin of 2.77%.The firm’s revenue was up 37.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 EPS.

Insider Buying and Selling

In other Global Business Travel Group news, CFO Karen Williams sold 20,000 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $9.43, for a total transaction of $188,600.00. Following the sale, the chief financial officer owned 548,257 shares in the company, valued at $5,170,063.51. This represents a 3.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Eric Bock sold 125,030 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $9.36, for a total transaction of $1,170,280.80. Following the sale, the insider owned 871,342 shares in the company, valued at $8,155,761.12. The trade was a 12.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 1,567,675 shares of company stock valued at $14,723,450. 5.40% of the stock is currently owned by company insiders.

Institutional Trading of Global Business Travel Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP purchased a new position in shares of Global Business Travel Group during the third quarter worth approximately $26,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Global Business Travel Group during the 4th quarter worth $32,000. Advisory Services Network LLC purchased a new position in Global Business Travel Group during the 3rd quarter worth $61,000. Creative Planning purchased a new position in Global Business Travel Group during the 2nd quarter worth $67,000. Finally, Russell Investments Group Ltd. increased its stake in Global Business Travel Group by 1,238.9% in the third quarter. Russell Investments Group Ltd. now owns 9,024 shares of the company’s stock valued at $73,000 after purchasing an additional 8,350 shares during the period. Institutional investors and hedge funds own 82.46% of the company’s stock.

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.