Global Business Travel Group (NYSE:GBTG) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Key Points

• Global Business Travel Group reported quarterly EPS of $0.03, missing analysts’ $0.06 consensus estimate by $0.03. Revenue increased 37.9% year over year, while net margin was 2.93% and return on equity was 2.51%.
• The stock traded near $9.44, close to its 12-month high of $9.54, with a $4.92 billion market capitalization. Analysts’ consensus rating was “Hold,” with an average price target of $8.90.
• Insiders sold 1.57 million shares worth approximately $14.7 million during the last quarter, including significant sales by the CEO and another insider; institutional investors owned 82.46% of the company.

Global Business Travel Group (NYSE:GBTG - Get Free Report) released its earnings results on Tuesday. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.03), Zacks reports. Global Business Travel Group had a net margin of 2.93% and a return on equity of 2.51%. The business's quarterly revenue was up 37.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.03 EPS.

Global Business Travel Group Stock Performance

Global Business Travel Group stock traded up $0.01 during mid-day trading on Tuesday, reaching $9.44. The company's stock had a trading volume of 453,396 shares, compared to its average volume of 2,647,951. The firm has a market cap of $4.92 billion, a price-to-earnings ratio of 55.50 and a beta of 0.93. The business has a 50 day moving average price of $9.39 and a 200-day moving average price of $7.50. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.90. Global Business Travel Group has a twelve month low of $4.95 and a twelve month high of $9.54.

Analysts Set New Price Targets

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

Insider Activity

In related news, insider Eric J. Bock sold 90,886 shares of the business's stock in a transaction dated 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Paul G. Abbott sold 574,317 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $9.35, for a total transaction of $5,369,863.95. Following the sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,572,683 shares of company stock valued at $14,704,271 over the last quarter. 5.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Global Business Travel Group

Several institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC lifted its holdings in shares of Global Business Travel Group by 169.9% in the 1st quarter. AQR Capital Management LLC now owns 64,060 shares of the company's stock worth $465,000 after purchasing an additional 40,328 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Global Business Travel Group by 4.5% during the 1st 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 during the last quarter. Goldman Sachs Group Inc. increased 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 worth $5,347,000 after buying an additional 294,527 shares during the period. Creative Planning bought a new stake in Global Business Travel Group in the second 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 second 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 during the period. 82.46% of the stock is owned by institutional investors.

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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