Global Business Travel Group, Inc. (NYSE:GBTG) Receives $8.90 Average PT from Brokerages

Shares of Global Business Travel Group, Inc. (NYSE:GBTG) have earned an average recommendation of “Hold” from the eight research firms that are covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $8.90.

Several equities analysts have recently issued reports on the company. Bank of America began coverage on Global Business Travel Group in a research report on Tuesday, April 7th. They set a “neutral” rating and a $6.50 price objective for the company. Wall Street Zen cut Global Business Travel Group from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Lake Street Capital set a $9.50 target price on Global Business Travel Group in a research note on Monday, May 4th. Evercore lowered Global Business Travel Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Weiss Ratings raised Global Business Travel Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 15th.

Insider Transactions at Global Business Travel Group

In related 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 represents a 12.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Evan Konwiser sold 356,222 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 502,641 shares of the company’s stock, valued at approximately $4,694,666.94. This represents a 41.48% 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 worth $14,704,271 over the last ninety days. Insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Global Business Travel Group

A number of institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new position in shares of Global Business Travel Group during the 3rd quarter valued at $26,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Global Business Travel Group in the fourth quarter valued at $32,000. Advisory Services Network LLC acquired a new stake in shares of Global Business Travel Group in the third quarter valued at $61,000. Russell Investments Group Ltd. boosted its stake in Global Business Travel Group by 1,238.9% during 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 in the last quarter. Finally, CIBC Bancorp USA Inc. bought a new position in Global Business Travel Group during the third quarter valued at about $81,000. 82.46% of the stock is currently owned by institutional investors and hedge funds.

Global Business Travel Group Stock Up 0.1%

GBTG stock opened at $9.41 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.90. Global Business Travel Group has a fifty-two week low of $4.95 and a fifty-two week high of $9.54. The firm’s 50-day simple moving average is $9.39 and its 200 day simple moving average is $7.45. The stock has a market cap of $4.91 billion, a PE ratio of 55.38 and a beta of 0.93.

Global Business Travel Group (NYSE:GBTG) last posted its earnings results on Monday, May 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $840.00 million during the quarter, compared to analyst estimates of $814.55 million. The firm’s revenue was up 35.3% compared to the same quarter last year. As a group, sell-side analysts predict that Global Business Travel Group will post 0.18 EPS for the current year.

About Global Business Travel Group

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.