Global Business Travel Group (NYSE:GBTG) Trading 9.6% Higher After Strong Earnings

Key Points

• Global Business Travel Group (GBTG) shares increased by 9.6% after reporting better-than-expected earnings, with an EPS of $0.03 compared to a consensus estimate of $0.02.
• The company generated $631 million in revenue for the quarter, surpassing analysts' expectations of $624.12 million.
• Analysts have varied opinions on GBTG, with UBS raising their price target to $11.00 and a consensus rating of "Moderate Buy" with an average target price of $9.90.

Global Business Travel Group, Inc. (NYSE:GBTG - Get Free Report) shot up 9.6% on Wednesday following a better than expected earnings announcement. The company traded as high as $7.07 and last traded at $7.13. 181,935 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 899,343 shares. The stock had previously closed at $6.50.

The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.01. Global Business Travel Group had a negative return on equity of 2.19% and a negative net margin of 2.34%. The business had revenue of $631.00 million during the quarter, compared to the consensus estimate of $624.12 million.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wall Street Zen downgraded Global Business Travel Group from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. UBS Group raised their price objective on Global Business Travel Group from $10.00 to $11.00 and gave the stock a "buy" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $9.88.

Hedge Funds Weigh In On Global Business Travel Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in Global Business Travel Group by 2,340.7% during the 1st quarter. GAMMA Investing LLC now owns 5,394 shares of the company's stock valued at $39,000 after acquiring an additional 5,173 shares during the period. Rhumbline Advisers boosted its holdings in Global Business Travel Group by 13.9% during the 1st quarter. Rhumbline Advisers now owns 179,539 shares of the company's stock valued at $1,303,000 after acquiring an additional 21,976 shares during the period. Bank of America Corp DE boosted its holdings in Global Business Travel Group by 40.6% during the 4th quarter. Bank of America Corp DE now owns 224,397 shares of the company's stock valued at $2,082,000 after acquiring an additional 64,828 shares during the period. Golden State Wealth Management LLC boosted its holdings in Global Business Travel Group by 59.2% during the 1st quarter. Golden State Wealth Management LLC now owns 388,155 shares of the company's stock valued at $2,818,000 after acquiring an additional 144,303 shares during the period. Finally, Deutsche Bank AG boosted its holdings in Global Business Travel Group by 63.9% during the 4th quarter. Deutsche Bank AG now owns 117,079 shares of the company's stock valued at $1,086,000 after acquiring an additional 45,641 shares during the period. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

Global Business Travel Group Stock Up 3.8%

The business has a fifty day moving average of $6.45 and a 200 day moving average of $7.07. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $3.60 billion, a PE ratio of -57.88 and a beta of 0.73.

Global Business Travel Group Company Profile

Global Business Travel Group, Inc provides business-to-business (B2B) travel platform in the United States and internationally. The company's platform offers a suite of technology-enabled solutions to business travelers and clients; travel content suppliers, such as airlines, hotels, ground transportation, and aggregators; and third-party travel agencies.