Global Business Travel Group, Inc. $GBTG Shares Bought by Monarch Alternative Capital LP

Key Points

• Monarch Alternative Capital increased its GBTG stake by 9.3% in the first quarter, adding 661,418 shares to own 7.8 million shares worth approximately $43.5 million. Institutional investors collectively hold 82.46% of the company.
• Analyst sentiment is broadly cautious, with two Buy ratings and six Hold ratings producing a consensus rating of Hold and an $8.90 price target. Recent downgrades from BTIG Research and Evercore offset Bank of America’s neutral initiation.
• GBTG reported quarterly EPS of $0.10 versus the $0.05 estimate and revenue of $840 million, up 35.3% year over year. However, company insiders sold more than 1.57 million shares worth $14.7 million over the past 90 days.

Monarch Alternative Capital LP grew its position in Global Business Travel Group, Inc. (NYSE:GBTG - Free Report) by 9.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 7,800,000 shares of the company's stock after acquiring an additional 661,418 shares during the period. Global Business Travel Group accounts for approximately 2.7% of Monarch Alternative Capital LP's investment portfolio, making the stock its 3rd biggest position. Monarch Alternative Capital LP owned 1.49% of Global Business Travel Group worth $43,524,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GBTG. Quantbot Technologies LP acquired a new position in Global Business Travel Group in the 3rd quarter worth about $26,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Global Business Travel Group during the fourth quarter worth about $32,000. Advisory Services Network LLC bought a new stake in shares of Global Business Travel Group during the third quarter worth about $61,000. Russell Investments Group Ltd. increased its stake 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 period. Finally, CIBC Bancorp USA Inc. bought a new position in Global Business Travel Group in the 3rd quarter valued at approximately $81,000. Institutional investors and hedge funds own 82.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GBTG. Bank of America initiated coverage on shares of Global Business Travel Group in a research report on Tuesday, April 7th. They set a "neutral" rating and a $6.50 target price on the stock. BTIG Research cut shares of Global Business Travel Group from a "buy" rating to a "neutral" rating in a research report on Monday, May 4th. Evercore downgraded shares of Global Business Travel Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Lake Street Capital set a $9.50 price target on shares of Global Business Travel Group in a report on Monday, May 4th. Finally, Weiss Ratings raised shares of Global Business Travel Group from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, May 15th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Global Business Travel Group presently has an average rating of "Hold" and a consensus price target of $8.90.

Insider Buying and Selling at Global Business Travel Group

In other Global Business Travel Group news, insider Evan Konwiser sold 356,222 shares of Global Business Travel Group stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $9.34, for a total value of $3,327,113.48. Following the completion of the sale, the insider directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Eric J. Bock sold 90,886 shares of Global Business Travel Group stock in a transaction on Friday, June 12th. The shares were sold at an average price of $9.35, for a total transaction of $849,784.10. Following the completion of the sale, the insider owned 773,956 shares of the company's stock, valued at $7,236,488.60. This represents a 10.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,572,683 shares of company stock valued at $14,704,271 over the last ninety days. Insiders own 5.40% of the company's stock.

Global Business Travel Group Stock Performance

Shares of GBTG stock opened at $9.43 on Tuesday. The stock has a market capitalization of $4.91 billion, a PE ratio of 55.44 and a beta of 0.93. The business's 50 day simple moving average is $9.39 and its 200 day simple moving average is $7.45. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.18 and a quick ratio of 1.18. Global Business Travel Group, Inc. has a one year low of $4.95 and a one year high of $9.54.

Global Business Travel Group (NYSE:GBTG - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business's revenue was up 35.3% on a year-over-year basis. As a group, research analysts forecast that Global Business Travel Group, Inc. will post 0.18 earnings per share 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.

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