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

Key Points

• Trading volume surged 176% to approximately 6.84 million shares, while GBTG traded near $9.47.
• Analysts maintain a generally cautious outlook: the stock has an average “Hold” rating and a consensus price target of $8.90, below its recent trading price.
• Recent results showed strong revenue growth of 37.9% year over year to $870 million, but quarterly EPS of $0.03 missed estimates by $0.03. Insiders also sold 777,442 shares worth approximately $7.3 million during the last quarter.

Shares of Global Business Travel Group, Inc. (NYSE:GBTG - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 6,837,316 shares traded hands during mid-day trading, an increase of 176% from the previous session's volume of 2,473,629 shares.The stock last traded at $9.4650 and had previously closed at $9.47.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Global Business Travel Group in a research note on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $8.90.

Global Business Travel Group Price Performance

The firm has a market cap of $4.94 billion, a price-to-earnings ratio of 55.68 and a beta of 0.93. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.88. The company's 50-day moving average is $9.45 and its 200-day moving average is $8.23.

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

Insiders Place Their Bets

In other news, insider Eric Bock sold 64,780 shares of the firm's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $9.46, for a total transaction of $612,818.80. Following the sale, the insider owned 699,177 shares in the company, valued at approximately $6,614,214.42. This trade represents a 8.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Andrew George Crawley sold 350,000 shares of the firm'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 $3,300,500.00. Following the completion of the sale, the president directly owned 1,031,838 shares in the company, valued at approximately $9,730,232.34. This trade represents a 25.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 777,442 shares of company stock valued at $7,333,521 in the last quarter. Corporate insiders own 5.40% of the company's stock.

Institutional Trading of Global Business Travel Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Attestor Capital Ltd purchased a new position in shares of Global Business Travel Group in the 4th quarter worth about $67,917,000. Monarch Alternative Capital LP grew its stake in shares of Global Business Travel Group by 9.3% during the 1st quarter. Monarch Alternative Capital LP now owns 7,800,000 shares of the company's stock valued at $43,524,000 after purchasing an additional 661,418 shares during the period. Dimensional Fund Advisors LP increased its holdings in Global Business Travel Group by 28.2% during the first quarter. Dimensional Fund Advisors LP now owns 4,255,603 shares of the company's stock valued at $23,741,000 after buying an additional 936,989 shares during the last quarter. UBS Group AG raised its holdings in Global Business Travel Group by 18.0% in the 4th quarter. UBS Group AG now owns 815,625 shares of the company's stock worth $6,240,000 after purchasing an additional 124,344 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in shares of Global Business Travel Group in the second quarter worth about $4,108,000. Hedge funds and other institutional investors own 82.46% of the company's stock.

About Global Business Travel Group

Global Business Travel Group, Inc NYSE: GBTG is a corporate travel management company that provides business travel, meetings and events, and related travel services to organizations worldwide. The company helps businesses manage employee travel programs, arrange transportation and lodging, support travel policy compliance, and improve the efficiency of travel-related spending.

Through its American Express Global Business Travel platform, the company offers booking and travel management tools, traveler support, expense-related solutions, and data and reporting services.

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