Carmignac Gestion Makes New Investment in Global Business Travel Group, Inc. $GBTG

Key Points

• Carmignac Gestion initiated a position of 316,463 GBTG shares valued at approximately $2.97 million, while 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.
• The stock traded near its 12-month high at $9.48, although analysts maintain a consensus “Hold” rating with an $8.90 target price; insiders have sold more than 1.56 million shares over the past 90 days.

Carmignac Gestion purchased a new position in Global Business Travel Group, Inc. (NYSE:GBTG - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 316,463 shares of the company's stock, valued at approximately $2,972,000. Carmignac Gestion owned about 0.06% of Global Business Travel Group at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Quantbot Technologies LP bought a new stake in shares of Global Business Travel Group during the 3rd quarter worth $26,000. Northwestern Mutual Wealth Management Co. acquired a new position in Global Business Travel Group during the 4th quarter worth $32,000. Advisory Services Network LLC bought a new stake in Global Business Travel Group during the third quarter valued at about $61,000. Creative Planning bought a new stake in Global Business Travel Group during the second quarter valued at about $67,000. Finally, Russell Investments Group Ltd. grew its position 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 purchasing an additional 8,350 shares during the last quarter. 82.46% of the stock is owned by institutional investors.

Global Business Travel Group Stock Performance

GBTG stock traded up $0.01 on Tuesday, reaching $9.48. 891,872 shares of the company were exchanged, compared to its average volume of 2,528,322. The firm has a market capitalization of $4.95 billion, a PE ratio of 55.79 and a beta of 0.93. Global Business Travel Group, Inc. has a 12 month low of $4.95 and a 12 month high of $9.56. The stock's fifty day moving average price is $9.44 and its 200 day moving average price is $8.05. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.20 and a quick ratio of 1.20.

Global Business Travel Group (NYSE:GBTG - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.03). Global Business Travel Group had a net margin of 2.77% and a return on equity of 2.47%. The company had revenue of $870.00 million during the quarter, compared to the consensus estimate of $810.60 million. During the same quarter in the previous year, the business posted $0.03 EPS. The firm's quarterly revenue was up 37.9% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "hold (c-)" rating on shares of Global Business Travel Group in a research report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Global Business Travel Group has an average rating of "Hold" and a consensus target price of $8.90.

Insider Transactions at Global Business Travel Group

In related news, President Andrew George Crawley sold 332,662 shares of the company's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $9.43, for a total value of $3,137,002.66. Following the completion of the transaction, the president directly owned 699,176 shares in the company, valued at approximately $6,593,229.68. This represents a 32.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Eric Bock sold 64,780 shares of the business's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $9.46, for a total transaction of $612,818.80. Following the completion of the sale, the insider directly owned 699,177 shares in the company, valued at $6,614,214.42. This trade represents a 8.48% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 1,567,675 shares of company stock valued at $14,723,450. Company insiders own 5.40% of the company's stock.

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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