Global Business Travel Group (NYSE:GBTG) CEO Sells $2,024,490.05 in Stock

Global Business Travel Group, Inc. (NYSE:GBTG) CEO Paul Abbott sold 216,523 shares of Global Business Travel Group stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $9.35, for a total value of $2,024,490.05. Following the completion of the transaction, the chief executive officer owned 3,157,228 shares in the company, valued at $29,520,081.80. The trade was a 6.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Global Business Travel Group Stock Performance

Shares of Global Business Travel Group stock traded down $0.01 during trading on Wednesday, reaching $9.35. The company’s stock had a trading volume of 3,532,760 shares, compared to its average volume of 2,846,531. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.18 and a current ratio of 1.18. The business’s fifty day moving average price is $7.64 and its 200-day moving average price is $7.06. The firm has a market cap of $4.87 billion, a price-to-earnings ratio of 54.97 and a beta of 0.93. Global Business Travel Group, Inc. has a one year low of $4.95 and a one year high of $9.54.

Global Business Travel Group (NYSE:GBTG) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. The business had revenue of $840.00 million for the quarter, compared to analyst estimates of $814.55 million. Global Business Travel Group had a return on equity of 2.51% and a net margin of 2.93%.The firm’s revenue was up 35.3% compared to the same quarter last year. As a group, equities research analysts predict that Global Business Travel Group, Inc. will post 0.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GBTG. Morgan Stanley dropped their price objective on Global Business Travel Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Monday, March 9th. Citigroup dropped their price objective on Global Business Travel Group from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Thursday, March 12th. Bank of America initiated coverage on Global Business Travel Group in a research note on Tuesday, April 7th. They set a “neutral” rating and a $6.50 price target on the stock. Lake Street Capital set a $9.50 price target on Global Business Travel Group in a research note on Monday, May 4th. Finally, UBS Group lowered their price target on Global Business Travel Group from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, March 10th. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $8.90.

Hedge Funds Weigh In On Global Business Travel Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Monarch Alternative Capital LP acquired a new stake in Global Business Travel Group during the third quarter valued at approximately $57,680,000. Anchorage Capital Advisors L.P. acquired a new stake in Global Business Travel Group during the third quarter valued at approximately $58,073,000. SG Americas Securities LLC acquired a new stake in Global Business Travel Group during the fourth quarter valued at approximately $1,667,000. Boundary Creek Advisors LP acquired a new stake in Global Business Travel Group during the third quarter valued at approximately $22,911,000. Finally, PB Investment Partners L.P. boosted its holdings in Global Business Travel Group by 11.3% during the third quarter. PB Investment Partners L.P. now owns 930,119 shares of the company’s stock valued at $7,515,000 after purchasing an additional 94,623 shares in the last quarter. 82.46% of the stock is currently 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.