Global Business Travel Group (NYSE:GBTG) Sees Strong Trading Volume - Here's What Happened

Key Points

• Trading volume surged 365% to 11.48 million shares, while GBTG traded near $9.47, largely unchanged from its prior close.
• Analysts maintain a cautious outlook: the stock has an average “Hold” rating and an $8.90 consensus price target, below its current trading level.
• Recent results showed strong revenue growth of 37.9% year over year to $870 million, but quarterly EPS of $0.03 missed estimates of $0.06. Insiders also sold 2.35 million shares worth about $22 million over the past 90 days.

Shares of Global Business Travel Group, Inc. (NYSE:GBTG - Get Free Report) saw an uptick in trading volume on Wednesday . 11,483,009 shares were traded during mid-day trading, an increase of 365% from the previous session's volume of 2,470,498 shares.The stock last traded at $9.4650 and had previously closed at $9.46.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GBTG. Weiss Ratings restated a "hold (c-)" rating on shares of Global Business Travel Group in a research note on Wednesday, August 12th. Wall Street Zen downgraded 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 assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $8.90.

Global Business Travel Group Stock Performance

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 stock has a market cap of $4.94 billion, a PE ratio of 55.68 and a beta of 0.93. The firm has a fifty day moving average price of $9.43 and a 200 day moving average price of $7.90.

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 analyst estimates of $810.60 million. During the same period in the prior year, the company earned $0.03 earnings per share. The company's quarterly revenue was up 37.9% on a year-over-year basis. Research analysts forecast that Global Business Travel Group, Inc. will post 0.18 earnings per share for the current fiscal year.

Insider Transactions at Global Business Travel Group

In other Global Business Travel Group news, insider Eric J. Bock sold 125,030 shares of the company's stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $9.36, for a total transaction of $1,170,280.80. Following the transaction, the insider owned 871,342 shares in the company, valued at approximately $8,155,761.12. This represents a 12.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Evan Konwiser sold 356,222 shares of the firm's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $9.34, for a total transaction of $3,327,113.48. Following the completion of the transaction, the insider directly owned 502,641 shares of the company's stock, valued at approximately $4,694,666.94. This represents a 41.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,350,125 shares of company stock worth $22,037,793 over the last ninety days. 5.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Global Business Travel Group

Several hedge funds have recently made changes to their positions in GBTG. Quantbot Technologies LP acquired a new stake in Global Business Travel Group during the 3rd quarter worth about $26,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Global Business Travel Group in the fourth quarter valued at about $32,000. Advisory Services Network LLC acquired a new position in shares of Global Business Travel Group in the third quarter valued at about $61,000. Russell Investments Group Ltd. raised its stake in shares of Global Business Travel Group by 1,238.9% in the third quarter. Russell Investments Group Ltd. now owns 9,024 shares of the company's stock worth $73,000 after purchasing an additional 8,350 shares during the last quarter. Finally, Stoneridge Investment Partners LLC purchased a new position in shares of Global Business Travel Group in the second quarter worth about $95,000. 82.46% of the stock is owned by institutional investors and hedge funds.

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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