Global Business Travel Group (NYSE:GBTG) Announces Quarterly Earnings Results

Global Business Travel Group (NYSE:GBTG) issued its quarterly earnings results on Tuesday. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.03), Zacks reports. 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 2.49% and a net margin of 2.77%.Global Business Travel Group’s revenue for the quarter was up 37.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.03 EPS.

Global Business Travel Group Stock Up 0.2%

Shares of NYSE GBTG traded up $0.01 during mid-day trading on Thursday, reaching $9.45. The company had a trading volume of 338,114 shares, compared to its average volume of 2,651,708. The firm has a 50 day simple moving average of $9.39 and a two-hundred day simple moving average of $7.53. Global Business Travel Group has a 52-week low of $4.95 and a 52-week high of $9.54. 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 stock has a market cap of $4.93 billion, a P/E ratio of 55.56 and a beta of 0.93.

Insider Buying and Selling

In other news, insider Evan Konwiser sold 356,222 shares of Global Business Travel Group stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $9.34, for a total transaction of $3,327,113.48. Following the sale, the insider owned 502,641 shares in the company, valued at approximately $4,694,666.94. The trade was a 41.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Karen A. Williams sold 10,000 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $9.35, for a total value of $93,500.00. Following the completion of the sale, the chief financial officer directly owned 596,157 shares of the company’s stock, valued at $5,574,067.95. The trade was a 1.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,572,683 shares of company stock valued at $14,704,271 over the last ninety days. Company insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Global Business Travel Group

Several large investors have recently modified their holdings of GBTG. Quantbot Technologies LP acquired a new position in shares of Global Business Travel Group in the 3rd quarter valued at $26,000. Northwestern Mutual Wealth Management Co. purchased a new position in Global Business Travel Group during the 4th quarter worth $32,000. Advisory Services Network LLC acquired a new position in Global Business Travel Group in the third quarter valued at $61,000. Creative Planning acquired a new position in Global Business Travel Group in the second quarter valued at $67,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of 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 buying an additional 8,350 shares during the last quarter. 82.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on GBTG. BTIG Research lowered shares of Global Business Travel Group from a “buy” rating to a “neutral” rating in a research note 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 report on Friday, May 15th. Lake Street Capital set a $9.50 price objective on shares of Global Business Travel Group in a report on Monday, May 4th. Evercore cut shares of Global Business Travel Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Finally, 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. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Global Business Travel Group currently has a consensus rating of “Hold” and a consensus 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.