Insider Selling: Global Business Travel Group (NYSE:GBTG) Insider Sells 64,780 Shares of Stock

Key Points

• Insider Eric Bock sold 64,780 GBTG shares at an average price of $9.46, generating approximately $612,819. He retained 699,177 shares, reducing his position by 8.48%.
• GBTG shares recently traded at $9.47, near the company’s 12-month high of $9.54, with a market capitalization of about $4.95 billion. Quarterly revenue rose 37.9% year over year to $870 million, though earnings per share of $0.03 missed estimates.
• Analysts maintain a broadly cautious outlook, with an average rating of Hold and a $8.90 price target; institutional investors own 82.46% of the stock.

Global Business Travel Group, Inc. (NYSE:GBTG - Get Free Report) insider Eric Bock sold 64,780 shares of Global Business Travel Group stock in a transaction on Friday, August 21st. The shares were sold at an average price of $9.46, for a total value of $612,818.80. Following the completion of the transaction, the insider owned 699,177 shares in the company, valued at approximately $6,614,214.42. The trade was a 8.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Global Business Travel Group Price Performance

Shares of GBTG stock traded down $0.01 on Tuesday, hitting $9.47. 507,347 shares of the company's stock were exchanged, compared to its average volume of 2,531,674. The company has a 50 day moving average of $9.42 and a 200 day moving average of $7.74. The stock has a market cap of $4.95 billion, a P/E ratio of 55.74 and a beta of 0.93. 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, Inc. has a 12 month low of $4.95 and a 12 month high of $9.54.

Global Business Travel Group (NYSE:GBTG - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.03). The business had revenue of $870.00 million for the quarter, compared to analyst estimates of $810.60 million. Global Business Travel Group had a return on equity of 2.47% and a net margin of 2.77%.The firm's revenue was up 37.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 EPS. On average, equities research analysts predict that Global Business Travel Group, Inc. will post 0.18 EPS for the current year.

Analyst Ratings Changes

GBTG has been the topic of a number of research reports. Evercore lowered shares of Global Business Travel Group from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. Lake Street Capital set a $9.50 target price on Global Business Travel Group in a research note 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 restated a "hold (c-)" rating on shares of Global Business Travel Group in a report on Wednesday, August 12th. Finally, Wall Street Zen cut shares of Global Business Travel Group from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Two equities research 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, the company presently has an average rating of "Hold" and an average target price of $8.90.

Hedge Funds Weigh In On Global Business Travel Group

A number of large investors have recently modified their holdings of the company. Attestor Capital Ltd bought a new position in shares of Global Business Travel Group in the fourth quarter valued at approximately $67,917,000. Lazard Asset Management LLC boosted its position in shares of Global Business Travel Group by 439.0% during the first quarter. Lazard Asset Management LLC now owns 545,145 shares of the company's stock valued at $3,042,000 after buying an additional 444,003 shares during the last quarter. Quantinno Capital Management LP grew its holdings in Global Business Travel Group by 720.9% during the first quarter. Quantinno Capital Management LP now owns 208,118 shares of the company's stock worth $1,161,000 after buying an additional 182,765 shares in the last quarter. Monarch Alternative Capital LP raised its position in Global Business Travel Group by 9.3% in the 1st quarter. Monarch Alternative Capital LP now owns 7,800,000 shares of the company's stock valued at $43,524,000 after buying an additional 661,418 shares during the last quarter. Finally, Sei Investments Co. raised its position in Global Business Travel Group by 90.3% in the 1st quarter. Sei Investments Co. now owns 343,833 shares of the company's stock valued at $1,919,000 after buying an additional 163,173 shares during the last quarter. 82.46% of the stock is currently 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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