Global Business Travel Group (NYSE:GBTG) Hits New 52-Week High on Better-Than-Expected Earnings

Key Points

• 52-week high: GBTG shares jumped to $9.30 (from a prior close of $5.93) after reporting Q results that beat expectations — EPS $0.10 vs. $0.05 est. and revenue $840.0M vs. $816.0M est., a 35.3% YoY revenue increase.
• Analyst views are mixed: four analysts rate the stock a Buy, three Hold and one Sell, leaving an average rating of "Hold" and an average price target of $8.81.
• Institutional activity and returns: hedge funds own 82.46% of shares, several large investors (including AQR and Goldman Sachs) increased positions, and the stock is up about 57.4% with a market cap near $4.89 billion.

Global Business Travel Group, Inc. (NYSE:GBTG - Get Free Report) shares reached a new 52-week high on Monday after the company announced better than expected quarterly earnings. The company traded as high as $9.30 and last traded at $9.3050, with a volume of 30602291 shares changing hands. The stock had previously closed at $5.93.

The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.05. Global Business Travel Group had a return on equity of 6.20% and a net margin of 4.01%.The business had revenue of $840.00 million for the quarter, compared to the consensus estimate of $815.97 million. Global Business Travel Group's revenue was up 35.3% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of research firms have commented on GBTG. Wall Street Zen upgraded Global Business Travel Group from a "hold" rating to a "buy" rating in a research note on Saturday, April 18th. UBS Group cut their price objective on shares of Global Business Travel Group from $11.00 to $10.00 and set a "buy" rating on the stock in a report on Tuesday, March 10th. Citigroup decreased their price objective on shares of Global Business Travel Group from $11.00 to $9.00 and set a "buy" rating for the company in a research report on Thursday, March 12th. Weiss Ratings cut shares of Global Business Travel Group from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday. Finally, BTIG Research dropped their target price on shares of Global Business Travel Group from $10.00 to $9.00 and set a "buy" rating on the stock in a research report on Monday, March 9th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $8.81.

Institutional Trading of Global Business Travel Group

Several large investors have recently added to or reduced their stakes in GBTG. AQR Capital Management LLC increased its holdings in shares of 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 purchasing an additional 40,328 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Global Business Travel Group by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,576 shares of the company's stock valued at $541,000 after buying an additional 3,238 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Global Business Travel Group by 66.6% in the first quarter. Goldman Sachs Group Inc. now owns 736,472 shares of the company's stock valued at $5,347,000 after buying an additional 294,527 shares during the last quarter. Creative Planning acquired a new position in Global Business Travel Group in the 2nd quarter worth approximately $67,000. Finally, Legal & General Group Plc increased its holdings in Global Business Travel Group by 4.0% in the 2nd quarter. Legal & General Group Plc now owns 112,365 shares of the company's stock worth $708,000 after buying an additional 4,308 shares during the period. Hedge funds and other institutional investors own 82.46% of the company's stock.

Global Business Travel Group Stock Up 57.4%

The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.84. The business's 50-day simple moving average is $5.62 and its 200-day simple moving average is $6.76. The company has a market capitalization of $4.89 billion, a PE ratio of 40.46, a price-to-earnings-growth ratio of 1.15 and a beta of 0.75.

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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