Bank of New York Mellon Corp Buys Shares of 437,458 Global Business Travel Group, Inc. $GBTG

Key Points

• Bank of New York Mellon acquired 437,458 shares of Global Business Travel Group in the second quarter, worth approximately $4.1 million. Institutional investors collectively own 82.46% of the company.
• GBTG reported quarterly revenue of $870 million, up 37.9% year over year and above estimates, but earnings per share of $0.03 missed the $0.06 consensus forecast.
• Investor sentiment remains cautious: analysts’ consensus rating is Hold with an $8.90 price target, while insiders sold more than 2.3 million shares worth approximately $21.8 million over the past three months.

Bank of New York Mellon Corp bought a new position in shares of Global Business Travel Group, Inc. (NYSE:GBTG - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 437,458 shares of the company's stock, valued at approximately $4,108,000. Bank of New York Mellon Corp owned approximately 0.08% of Global Business Travel Group at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GBTG. AQR Capital Management LLC boosted its position in Global Business Travel Group by 169.9% in the first quarter. AQR Capital Management LLC now owns 64,060 shares of the company's stock valued at $465,000 after buying an additional 40,328 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Global Business Travel Group by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,576 shares of the company's stock worth $541,000 after buying an additional 3,238 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Global Business Travel Group by 66.6% during the first quarter. Goldman Sachs Group Inc. now owns 736,472 shares of the company's stock worth $5,347,000 after buying an additional 294,527 shares in the last quarter. Creative Planning bought a new position in shares of Global Business Travel Group in the 2nd quarter valued at $67,000. Finally, Legal & General Group Plc boosted its holdings in shares of Global Business Travel Group by 4.0% during the 2nd quarter. Legal & General Group Plc now owns 112,365 shares of the company's stock valued at $708,000 after acquiring an additional 4,308 shares in the last quarter. Institutional investors own 82.46% of the company's stock.

Global Business Travel Group Trading Down 0.1%

Shares of GBTG stock opened at $9.48 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.20 and a current ratio of 1.20. Global Business Travel Group, Inc. has a fifty-two week low of $4.95 and a fifty-two week high of $9.54. The stock has a 50 day simple moving average of $9.43 and a two-hundred day simple moving average of $7.97. The company has a market cap of $4.95 billion, a P/E ratio of 55.76 and a beta of 0.93.

Global Business Travel Group (NYSE:GBTG - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.03 EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $870.00 million during the quarter, compared to analyst estimates of $810.60 million. During the same quarter in the previous year, the business posted $0.03 earnings per share. The company's revenue for the quarter was up 37.9% compared to the same quarter last year.

Insider Transactions at Global Business Travel Group

In other news, CFO Karen A. Williams sold 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $9.43, for a total value of $188,600.00. Following the transaction, the chief financial officer owned 548,257 shares in the company, valued at $5,170,063.51. This trade represents a 3.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Paul G. Abbott sold 574,317 shares of the firm's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $9.35, for a total value of $5,369,863.95. Following the transaction, the chief executive officer owned 2,582,911 shares in the company, valued at approximately $24,150,217.85. This trade represents a 18.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 2,323,880 shares of company stock valued at $21,792,139. Corporate insiders own 5.40% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wall Street Zen cut Global Business Travel Group from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. 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 assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target 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.

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