Global Business Travel Group (NYSE:GBTG) Hits New 12-Month High - Here's Why

Key Points

• Global Business Travel Group shares reached a new 52-week high of $9.56, trading near $9.49, while the stock’s average analyst rating remains “Hold” with a consensus price target of $8.90.
• The company reported quarterly revenue of $870 million, up 37.9% year over year and above estimates, but earnings per share of $0.03 missed the $0.06 consensus forecast.
• Insiders have been selling shares: company insiders sold 1.57 million shares worth about $14.7 million over the past 90 days, while institutional investors own 82.46% of the stock.

Shares of Global Business Travel Group, Inc. (NYSE:GBTG - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $9.56 and last traded at $9.4850, with a volume of 36909 shares. The stock had previously closed at $9.48.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "hold (c-)" rating on shares of Global Business Travel Group in a report on Wednesday, August 12th. 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, Global Business Travel Group has an average rating of "Hold" and a consensus price target of $8.90.

Global Business Travel Group Stock Performance

The firm has a market cap of $4.95 billion, a P/E ratio of 55.79 and a beta of 0.93. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.20 and a current ratio of 1.20. The business's 50-day simple moving average is $9.44 and its 200 day simple moving average is $8.02.

Global Business Travel Group (NYSE:GBTG - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.03). Global Business Travel Group had a net margin of 2.77% and a return on equity of 2.47%. The business had revenue of $870.00 million for the quarter, compared to the consensus estimate of $810.60 million. During the same quarter last year, the firm posted $0.03 earnings per share. The business's quarterly revenue was up 37.9% compared to the same quarter last year.

Insider Transactions at Global Business Travel Group

In related news, insider Eric J. Bock sold 125,030 shares of the firm's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $9.36, for a total value of $1,170,280.80. Following the completion of the transaction, the insider directly owned 871,342 shares of the company's stock, valued at approximately $8,155,761.12. This trade represents a 12.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Karen A. Williams sold 20,000 shares of the business's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $9.43, for a total transaction of $188,600.00. Following the completion of the sale, the chief financial officer owned 548,257 shares in the company, valued at $5,170,063.51. This represents a 3.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 1,567,675 shares of company stock worth $14,723,450. 5.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. 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 buying an additional 40,328 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of 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 worth $541,000 after buying an additional 3,238 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Global Business Travel Group by 66.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 736,472 shares of the company's stock worth $5,347,000 after acquiring an additional 294,527 shares during the last quarter. Creative Planning acquired a new position in shares of Global Business Travel Group in the second quarter valued at about $67,000. Finally, Legal & General Group Plc boosted its holdings in Global Business Travel Group by 4.0% in the second quarter. Legal & General Group Plc now owns 112,365 shares of the company's stock valued at $708,000 after purchasing an additional 4,308 shares during the last quarter. 82.46% of the stock is owned by hedge funds and other institutional investors.

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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