Global Business Travel Group's (GBTG) Neutral Rating Reaffirmed at BTIG Research

Key Points

• BTIG Research reaffirmed a “neutral” rating on Global Business Travel Group, while Weiss Ratings maintained a “hold (C-)” view. Analysts’ consensus rating is “Hold,” with a target price of $8.90.
• GBTG reported quarterly revenue of $870 million, up 37.9% year over year and above expectations, but earnings per share of $0.03 missed the $0.06 consensus estimate.
• The stock opened at $9.49, near its 52-week high of $9.56. Insiders sold $7.3 million worth of shares during the last quarter, while institutional investors own 82.46% of the company.

Global Business Travel Group (NYSE:GBTG - Get Free Report)'s stock had its "neutral" rating reiterated by analysts at BTIG Research in a research report issued to clients and investors on Wednesday, Benzinga reports.

Separately, Weiss Ratings reissued a "hold (c-)" rating on shares of Global Business Travel Group in a research note on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, Global Business Travel Group currently has a consensus rating of "Hold" and a consensus target price of $8.90.

Global Business Travel Group Price Performance

NYSE:GBTG opened at $9.49 on Wednesday. The firm has a market capitalization of $4.96 billion, a price-to-earnings ratio of 55.85 and a beta of 0.93. 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 has a fifty day moving average of $9.46 and a 200 day moving average of $8.47. Global Business Travel Group has a 52-week low of $4.95 and a 52-week high of $9.56.

Global Business Travel Group (NYSE:GBTG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.03 EPS for the quarter, missing the consensus estimate 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 business had revenue of $870.00 million for the quarter, compared to analysts' expectations of $810.60 million. During the same period in the previous year, the firm posted $0.03 EPS. The firm's revenue for the quarter was up 37.9% compared to the same quarter last year. On average, research analysts expect that Global Business Travel Group will post 0.18 EPS for the current fiscal year.

Insider Activity at Global Business Travel Group

In related news, insider Eric Bock sold 64,780 shares of the firm's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $9.46, for a total value of $612,818.80. Following the completion of the sale, the insider owned 699,177 shares of the company's stock, valued at $6,614,214.42. This trade represents a 8.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Karen Williams sold 20,000 shares of Global Business Travel Group stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $9.43, for a total transaction of $188,600.00. Following the completion of the sale, the chief financial officer owned 548,257 shares in the company, valued at approximately $5,170,063.51. This trade represents a 3.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 777,442 shares of company stock worth $7,333,521 over the last quarter. 5.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Global Business Travel Group

A number of institutional investors have recently bought and sold shares of GBTG. Maven Securities LTD bought a new stake in Global Business Travel Group during the 2nd quarter valued at approximately $2,547,000. Squarepoint Ops LLC purchased a new position in shares of Global Business Travel Group in the 2nd quarter valued at approximately $179,000. Allworth Financial LP boosted its position in shares of Global Business Travel Group by 683.3% during the second quarter. Allworth Financial LP now owns 3,713 shares of the company's stock valued at $35,000 after purchasing an additional 3,239 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Global Business Travel Group by 6.8% during the second quarter. Arizona State Retirement System now owns 31,047 shares of the company's stock valued at $292,000 after purchasing an additional 1,966 shares in the last quarter. Finally, Carmignac Gestion purchased a new stake in Global Business Travel Group in the second quarter worth $2,972,000. 82.46% of the stock is owned by institutional investors.

About Global Business Travel Group

Global Business Travel Group, Inc NYSE: GBTG is a corporate travel management company that provides business travel, meetings and events, and related travel services to organizations worldwide. The company helps businesses manage employee travel programs, arrange transportation and lodging, support travel policy compliance, and improve the efficiency of travel-related spending.

Through its American Express Global Business Travel platform, the company offers booking and travel management tools, traveler support, expense-related solutions, and data and reporting services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.